XTX Topco Ltd Makes New Investment in IMAX Co. (NYSE:IMAX)

XTX Topco Ltd bought a new stake in IMAX Co. (NYSE:IMAX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,423 shares of the company’s stock, valued at approximately $208,000.

Other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. purchased a new position in IMAX in the 4th quarter valued at $33,000. Headlands Technologies LLC acquired a new position in IMAX during the second quarter worth about $35,000. Summit Securities Group LLC purchased a new stake in IMAX during the 2nd quarter valued at about $80,000. Laurus Investment Counsel Inc. acquired a new stake in IMAX in the 2nd quarter valued at about $150,000. Finally, Partnership Wealth Management LLC lifted its stake in IMAX by 63.1% in the 1st quarter. Partnership Wealth Management LLC now owns 12,932 shares of the company’s stock worth $209,000 after purchasing an additional 5,005 shares in the last quarter. 93.51% of the stock is owned by institutional investors and hedge funds.

IMAX Trading Up 0.5 %

IMAX stock opened at $20.35 on Monday. The business’s fifty day moving average price is $20.41 and its 200 day moving average price is $17.92. IMAX Co. has a 12-month low of $13.20 and a 12-month high of $22.13. The company has a market capitalization of $1.07 billion, a PE ratio of 42.40, a P/E/G ratio of 1.38 and a beta of 1.25.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. IMAX had a net margin of 5.97% and a return on equity of 7.78%. The company had revenue of $88.96 million for the quarter, compared to analyst estimates of $74.52 million. During the same period in the prior year, the firm earned $0.17 earnings per share. The business’s revenue for the quarter was down 9.2% compared to the same quarter last year. Research analysts predict that IMAX Co. will post 0.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IMAX has been the subject of a number of analyst reports. Roth Mkm upped their price target on IMAX from $23.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Rosenblatt Securities raised their target price on IMAX from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Macquarie boosted their price target on shares of IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Seaport Res Ptn raised shares of IMAX to a “strong-buy” rating in a report on Wednesday, July 24th. Finally, Barrington Research reiterated an “outperform” rating and issued a $24.00 target price on shares of IMAX in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.67.

IMAX 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.