Rhumbline Advisers Sells 2,261 Shares of IMAX Co. (NYSE:IMAX)

Rhumbline Advisers lessened its holdings in shares of IMAX Co. (NYSE:IMAX) by 3.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 56,122 shares of the company’s stock after selling 2,261 shares during the period. Rhumbline Advisers owned 0.11% of IMAX worth $1,437,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in shares of IMAX by 138.5% during the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after purchasing an additional 561 shares during the last quarter. Huntington National Bank acquired a new position in shares of IMAX during the third quarter valued at $34,000. Quarry LP lifted its stake in shares of IMAX by 78,333.3% during the third quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after acquiring an additional 2,350 shares during the period. US Bancorp DE lifted its stake in shares of IMAX by 23.4% during the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after acquiring an additional 1,452 shares during the period. Finally, Savant Capital LLC acquired a new position in shares of IMAX during the fourth quarter valued at $249,000. Institutional investors own 93.51% of the company’s stock.

IMAX Price Performance

NYSE IMAX opened at $24.92 on Wednesday. The firm has a market cap of $1.32 billion, a P/E ratio of 50.85, a P/E/G ratio of 1.49 and a beta of 1.22. The stock’s 50-day moving average is $24.76 and its 200-day moving average is $23.28. IMAX Co. has a one year low of $14.94 and a one year high of $27.77.

IMAX (NYSE:IMAX) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). The business had revenue of $92.67 million for the quarter, compared to analyst estimates of $104.08 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. Equities analysts anticipate that IMAX Co. will post 0.91 EPS for the current year.

Analyst Ratings Changes

IMAX has been the topic of several research reports. Wells Fargo & Company upped their price target on IMAX from $26.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Wedbush reaffirmed an “outperform” rating and set a $32.00 price target on shares of IMAX in a research note on Thursday, February 20th. Rosenblatt Securities increased their target price on IMAX from $28.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Barrington Research increased their target price on IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, Macquarie increased their target price on IMAX from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $30.67.

Insider Transactions at IMAX

In related news, EVP Robert D. Lister sold 55,910 shares of the stock in a transaction dated Monday, December 9th. The stock was 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 directly owns 138,889 shares in the company, valued at approximately $3,541,669.50. This trade represents a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kenneth Ian Weissman sold 6,309 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.51, for a total value of $160,942.59. Following the transaction, the insider now owns 25,139 shares of the company’s stock, valued at approximately $641,295.89. The trade was a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,176 shares of company stock valued at $1,662,110 over the last 90 days. 24.08% of the stock is owned by company insiders.

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.