IMAX Co. (NYSE:IMAX) Short Interest Update

IMAX Co. (NYSE:IMAX) saw a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 4,510,000 shares, a decrease of 7.8% from the January 15th total of 4,890,000 shares. Approximately 10.8% of the shares of the company are short sold. Based on an average daily volume of 585,500 shares, the short-interest ratio is presently 7.7 days.

IMAX Stock Performance

NYSE IMAX traded up $0.17 on Monday, reaching $27.00. The company’s stock had a trading volume of 1,112,846 shares, compared to its average volume of 621,607. IMAX has a twelve month low of $14.48 and a twelve month high of $27.29. The stock has a market cap of $1.42 billion, a PE ratio of 61.36, a PEG ratio of 1.40 and a beta of 1.22. The firm’s 50 day moving average is $24.58 and its two-hundred day moving average is $22.86.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wedbush restated an “outperform” rating and set a $32.00 price target on shares of IMAX in a research report on Wednesday, February 12th. Rosenblatt Securities restated a “buy” rating and set a $28.00 price target on shares of IMAX in a research report on Thursday, January 16th. StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating in a research report on Thursday. Barrington Research reiterated an “outperform” rating and issued a $30.00 target price on shares of IMAX in a research report on Friday, January 10th. Finally, Benchmark reiterated a “buy” rating and issued a $30.00 target price on shares of IMAX in a research report on Friday, January 17th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $28.63.

Insiders Place Their Bets

In other news, EVP Robert D. Lister sold 55,910 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the completion of the transaction, the executive vice president now owns 138,889 shares in the company, valued at approximately $3,541,669.50. This represents a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Natasha Fernandes sold 2,957 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.52, for a total transaction of $75,462.64. Following the transaction, the chief financial officer now owns 14,883 shares of the company’s stock, valued at $379,814.16. This represents a 16.58 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,176 shares of company stock valued at $1,662,110. Company insiders own 24.08% of the company’s stock.

Institutional Investors Weigh In On IMAX

Institutional investors and hedge funds have recently bought and sold shares of the business. Mizuho Markets Americas LLC lifted its stake in IMAX by 47.5% during the third quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company’s stock valued at $7,952,000 after buying an additional 124,811 shares in the last quarter. Royce & Associates LP lifted its stake in IMAX by 3.1% during the third quarter. Royce & Associates LP now owns 1,822,616 shares of the company’s stock valued at $37,382,000 after buying an additional 54,850 shares in the last quarter. Quantbot Technologies LP purchased a new stake in IMAX during the third quarter valued at about $777,000. Lord Abbett & CO. LLC purchased a new stake in IMAX during the third quarter valued at about $6,322,000. Finally, SG Americas Securities LLC purchased a new stake in IMAX during the fourth quarter valued at about $333,000. 93.51% of the stock is owned by institutional investors and hedge funds.

IMAX Company Profile

IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates in two segments, Content Solutions and Technology Products and Services. The company offers IMAX DMR, a proprietary technology that digitally remasters films and other content into IMAX formats for distribution to the IMAX network; IMAX Enhanced that provides end-to-end technology across streaming content and entertainment devices at home; and SSIMWAVE, an AI-driven video quality solutions for media and entertainment companies.