HighTower Advisors LLC Decreases Stake in IMAX Co. (NYSE:IMAX)

HighTower Advisors LLC lessened its position in shares of IMAX Co. (NYSE:IMAX) by 12.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,307 shares of the company’s stock after selling 1,653 shares during the quarter. HighTower Advisors LLC’s holdings in IMAX were worth $289,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after purchasing an additional 561 shares during the period. Quarry LP lifted its position in 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 buying an additional 2,350 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of IMAX in the third quarter valued at $205,000. Wealthfront Advisers LLC bought a new stake in shares of IMAX in the 4th quarter worth about $217,000. Finally, Cornerstone Investment Partners LLC purchased a new position in shares of IMAX during the 4th quarter worth about $248,000. Institutional investors own 93.51% of the company’s stock.

Wall Street Analyst Weigh In

IMAX has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on shares of IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. StockNews.com cut shares of IMAX from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Rosenblatt Securities boosted their price target on shares of IMAX from $28.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Wedbush reiterated an “outperform” rating and set a $32.00 price objective on shares of IMAX in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of IMAX from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.67.

IMAX Price Performance

Shares of NYSE:IMAX opened at $26.62 on Thursday. The business’s 50-day moving average is $25.43 and its 200 day moving average is $23.97. IMAX Co. has a 1 year low of $14.94 and a 1 year high of $27.77. The firm has a market capitalization of $1.41 billion, a P/E ratio of 54.33, a P/E/G ratio of 1.49 and a beta of 1.22.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.17 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 company had revenue of $92.67 million for the quarter, compared to analyst estimates of $104.08 million. On average, analysts expect that IMAX Co. will post 0.91 EPS for the current year.

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.