IMAX (NYSE:IMAX) Stock Price Down 4.9%

Shares of IMAX Co. (NYSE:IMAX) dropped 4.9% on Monday . The stock traded as low as $19.14 and last traded at $19.14. Approximately 166,149 shares were traded during trading, a decline of 79% from the average daily volume of 776,207 shares. The stock had previously closed at $20.12.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wedbush upped their price target on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd. Macquarie increased their price target on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Barrington Research reaffirmed an “outperform” rating and set a $25.00 target price on shares of IMAX in a research note on Friday, July 26th. B. Riley raised their price target on shares of IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Finally, Benchmark reiterated a “buy” rating and issued a $22.00 price objective on shares of IMAX in a research note on Thursday, June 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.78.

IMAX Trading Down 5.1 %

The firm’s fifty day moving average price is $20.17 and its 200-day moving average price is $17.81. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 39.35, a PEG ratio of 1.48 and a beta of 1.25.

IMAX (NYSE:IMAX) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. The firm had revenue of $88.96 million for the quarter, compared to the consensus estimate of $74.52 million. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The firm’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 EPS. On average, sell-side analysts expect that IMAX Co. will post 0.69 earnings per share for the current year.

Hedge Funds Weigh In On IMAX

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of IMAX by 13.2% in the 1st quarter. Vanguard Group Inc. now owns 584,795 shares of the company’s stock valued at $9,456,000 after purchasing an additional 68,155 shares during the last quarter. GSA Capital Partners LLP purchased a new position in IMAX during the 1st quarter worth $1,070,000. Acadian Asset Management LLC lifted its stake in shares of IMAX by 178.7% in the 1st quarter. Acadian Asset Management LLC now owns 490,917 shares of the company’s stock worth $7,934,000 after acquiring an additional 314,742 shares during the period. Kodai Capital Management LP purchased a new stake in shares of IMAX in the fourth quarter valued at about $5,287,000. Finally, Principal Financial Group Inc. acquired a new position in shares of IMAX during the first quarter worth about $871,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

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.