SG Americas Securities LLC Makes New Investment in IMAX Co. (NYSE:IMAX)

SG Americas Securities LLC bought a new position in shares of IMAX Co. (NYSE:IMAX) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 13,011 shares of the company’s stock, valued at approximately $333,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. US Bancorp DE grew its position in shares of IMAX by 23.4% in the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after purchasing an additional 1,452 shares during the period. Huntington National Bank purchased a new position in shares of IMAX in the third quarter valued at approximately $34,000. Quarry LP boosted its stake in shares of IMAX by 78,333.3% in the third quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after acquiring an additional 2,350 shares during the last quarter. nVerses Capital LLC acquired a new position in IMAX in the 3rd quarter valued at $70,000. Finally, Intech Investment Management LLC purchased a new position in IMAX in the 3rd quarter valued at $205,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on IMAX. StockNews.com cut shares of IMAX from a “buy” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their target price on IMAX from $21.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Rosenblatt Securities reissued a “buy” rating and set a $28.00 price target on shares of IMAX in a research report on Thursday, January 16th. Barrington Research reissued an “outperform” rating and issued a $30.00 price target on shares of IMAX in a research note on Friday, January 10th. Finally, Roth Mkm upped their price objective on IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, IMAX has a consensus rating of “Moderate Buy” and an average price target of $28.63.

IMAX Stock Up 1.1 %

Shares of IMAX opened at $24.39 on Wednesday. IMAX Co. has a fifty-two week low of $13.20 and a fifty-two week high of $26.84. The company has a market cap of $1.28 billion, a P/E ratio of 55.42, a PEG ratio of 1.30 and a beta of 1.22. The firm’s 50 day moving average price is $24.61 and its 200 day moving average price is $22.46.

Insider Activity at IMAX

In other news, CFO Natasha Fernandes sold 2,957 shares of IMAX stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.52, for a total transaction of $75,462.64. Following the completion of the sale, the chief financial officer now directly owns 14,883 shares of the company’s stock, valued at approximately $379,814.16. The trade was a 16.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert D. Lister sold 55,910 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.50, for a total value of $1,425,705.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last three months, insiders sold 65,176 shares of company stock worth $1,662,110. Company insiders own 24.08% of the company’s stock.

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.