nVerses Capital LLC Acquires Shares of 3,400 IMAX Co. (NYSE:IMAX)

nVerses Capital LLC bought a new position in shares of IMAX Co. (NYSE:IMAX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,400 shares of the company’s stock, valued at approximately $70,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in IMAX by 13.2% during the first quarter. Vanguard Group Inc. now owns 584,795 shares of the company’s stock worth $9,456,000 after buying an additional 68,155 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in IMAX during the first quarter worth $1,070,000. Acadian Asset Management LLC raised its position in IMAX by 178.7% in the first quarter. Acadian Asset Management LLC now owns 490,917 shares of the company’s stock valued at $7,934,000 after purchasing an additional 314,742 shares during the period. Principal Financial Group Inc. purchased a new stake in IMAX in the 1st quarter valued at about $871,000. Finally, Victory Capital Management Inc. boosted its stake in IMAX by 33.1% during the second quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock worth $21,687,000 after buying an additional 321,506 shares during the period. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

IMAX Stock Down 1.7 %

NYSE IMAX opened at $20.79 on Tuesday. IMAX Co. has a 52 week low of $13.20 and a 52 week high of $22.13. The firm has a 50 day moving average of $20.55 and a two-hundred day moving average of $18.38. The stock has a market capitalization of $1.09 billion, a PE ratio of 43.31, a price-to-earnings-growth ratio of 1.41 and a beta of 1.25.

IMAX (NYSE:IMAX) last issued its earnings results on Thursday, July 25th. The company reported $0.18 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 firm had revenue of $88.96 million during the quarter, compared to the consensus estimate of $74.52 million. During the same quarter in the previous year, the firm posted $0.17 earnings per share. The company’s revenue was down 9.2% compared to the same quarter last year. On average, equities research analysts expect that IMAX Co. will post 0.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on IMAX shares. JPMorgan Chase & Co. upped their price objective on shares of IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Barrington Research restated an “outperform” rating and set a $24.00 price target on shares of IMAX in a research note on Wednesday, September 25th. Wedbush boosted their price objective on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. Rosenblatt Securities restated a “buy” rating and set a $28.00 target price on shares of IMAX in a report on Friday, October 4th. Finally, Roth Mkm reiterated a “buy” rating and set a $27.00 price target on shares of IMAX in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.11.

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.