KLP Kapitalforvaltning AS Invests $448,000 in IMAX Co. (NYSE:IMAX)

KLP Kapitalforvaltning AS purchased a new stake in IMAX Co. (NYSE:IMAX) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 17,500 shares of the company’s stock, valued at approximately $448,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Blue Trust Inc. lifted its position in IMAX by 138.5% during the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after acquiring an additional 561 shares during the period. Quarry LP raised 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 worth $48,000 after purchasing an additional 2,350 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of IMAX during the third quarter worth $205,000. Wealthfront Advisers LLC purchased a new position in IMAX in the 4th quarter valued at $217,000. Finally, Cornerstone Investment Partners LLC acquired a new position in IMAX in the 4th quarter valued at $248,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

IMAX Stock Performance

IMAX opened at $24.38 on Friday. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 49.76, a PEG ratio of 1.49 and a beta of 0.91. IMAX Co. has a one year low of $14.94 and a one year high of $27.77. The business’s fifty day moving average is $25.48 and its two-hundred day moving average is $24.01.

IMAX (NYSE:IMAX) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $104.08 million. IMAX had a net margin of 7.40% and a return on equity of 8.60%. On average, analysts predict that IMAX Co. will post 0.91 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IMAX. Barrington Research lifted their target price on shares of IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. StockNews.com lowered IMAX from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. JPMorgan Chase & Co. increased their target price on IMAX from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. Wedbush reissued an “outperform” rating and issued a $32.00 price target on shares of IMAX in a report on Thursday, February 20th. Finally, Rosenblatt Securities increased their price objective on IMAX from $28.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. 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 currently has an average rating of “Moderate Buy” and an average target price of $30.67.

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.