357,140 Shares in IMAX Co. (NYSE:IMAX) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in IMAX Co. (NYSE:IMAX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 357,140 shares of the company’s stock, valued at approximately $9,143,000. Raymond James Financial Inc. owned approximately 0.68% of IMAX as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC grew its position in IMAX by 108.4% in the third quarter. FMR LLC now owns 3,949,643 shares of the company’s stock worth $81,007,000 after acquiring an additional 2,054,031 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in IMAX in the third quarter worth $6,322,000. Castleark Management LLC purchased a new position in IMAX in the third quarter worth $5,199,000. Foundry Partners LLC grew its position in IMAX by 21.5% in the third quarter. Foundry Partners LLC now owns 221,295 shares of the company’s stock worth $4,539,000 after acquiring an additional 39,095 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its position in IMAX by 22.2% in the third quarter. Mutual of America Capital Management LLC now owns 206,291 shares of the company’s stock worth $4,231,000 after acquiring an additional 37,462 shares in the last quarter. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Benchmark restated a “buy” rating and set a $30.00 price target on shares of IMAX in a research report on Thursday, February 20th. Wedbush restated an “outperform” rating and set a $32.00 price target on shares of IMAX in a research report on Thursday, February 20th. Barrington Research upped their price target on shares of IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, Macquarie upped their price target on shares of IMAX from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, IMAX presently has an average rating of “Buy” and a consensus target price of $30.67.

IMAX Price Performance

IMAX stock opened at $26.80 on Friday. IMAX Co. has a 1 year low of $14.94 and a 1 year high of $27.77. The company has a market cap of $1.42 billion, a P/E ratio of 54.68, a PEG ratio of 1.49 and a beta of 1.22. The firm has a 50-day moving average of $24.83 and a 200 day moving average of $23.63.

IMAX (NYSE:IMAX) last announced its earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). IMAX had a net margin of 7.40% and a return on equity of 8.60%. The business had revenue of $92.67 million for the quarter, compared to the consensus estimate of $104.08 million. On average, equities research analysts expect that IMAX Co. will post 0.91 earnings per share for the current fiscal year.

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.