19,610 Shares in IMAX Co. (NYSE:IMAX) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new stake in shares of IMAX Co. (NYSE:IMAX) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 19,610 shares of the company’s stock, valued at approximately $502,000.

Other institutional investors have also added to or reduced their stakes in the company. Cornerstone Investment Partners LLC purchased a new stake in shares of IMAX during the 4th quarter valued at about $248,000. US Bancorp DE increased its stake in IMAX by 60.3% during the fourth quarter. US Bancorp DE now owns 12,276 shares of the company’s stock worth $314,000 after acquiring an additional 4,620 shares during the last quarter. Impact Investors Inc purchased a new stake in IMAX during the fourth quarter valued at approximately $763,000. Principal Financial Group Inc. raised its position in IMAX by 69.3% during the fourth quarter. Principal Financial Group Inc. now owns 103,946 shares of the company’s stock valued at $2,661,000 after purchasing an additional 42,562 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after purchasing an additional 561 shares during the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Barrington Research increased their price target on IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Rosenblatt Securities raised their target price on shares of IMAX from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Macquarie lifted their price target on shares of IMAX from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Benchmark reissued a “buy” rating and issued a $30.00 price objective on shares of IMAX in a research report on Thursday, February 20th. Finally, Wells Fargo & Company boosted their target price on IMAX from $26.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $30.67.

IMAX Stock Up 1.1 %

Shares of IMAX stock opened at $27.06 on Tuesday. IMAX Co. has a 52-week low of $14.94 and a 52-week high of $27.77. The firm’s 50 day moving average price is $24.91 and its 200-day moving average price is $23.70. The company has a market cap of $1.43 billion, a P/E ratio of 55.22, a PEG ratio of 1.49 and a beta of 1.22.

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

About IMAX

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.