Thrivent Financial for Lutherans Buys 42,952 Shares of IMAX Co. (NYSE:IMAX)

Thrivent Financial for Lutherans raised its stake in IMAX Co. (NYSE:IMAX) by 5.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 819,325 shares of the company’s stock after purchasing an additional 42,952 shares during the quarter. Thrivent Financial for Lutherans owned approximately 1.56% of IMAX worth $13,740,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of IMAX. PNC Financial Services Group Inc. bought a new position in IMAX in the fourth quarter valued at approximately $33,000. Headlands Technologies LLC bought a new position in IMAX in the second quarter valued at approximately $35,000. Summit Securities Group LLC bought a new position in IMAX in the second quarter valued at approximately $80,000. Laurus Investment Counsel Inc. bought a new position in IMAX in the second quarter valued at approximately $150,000. Finally, XTX Topco Ltd bought a new position in IMAX in the second quarter valued at approximately $208,000. 93.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IMAX. Rosenblatt Securities lifted their target price on IMAX from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. B. Riley lifted their target price on IMAX from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Benchmark reiterated a “buy” rating and set a $22.00 target price on shares of IMAX in a research note on Thursday, June 20th. Roth Mkm lifted their target price on IMAX from $23.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Wedbush lifted their target price on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.78.

IMAX Price Performance

IMAX opened at $19.74 on Wednesday. The business has a fifty day simple moving average of $20.26 and a 200 day simple moving average of $17.85. The company has a market capitalization of $1.04 billion, a PE ratio of 41.13, a price-to-earnings-growth ratio of 1.48 and a beta of 1.25. IMAX Co. has a 1 year low of $13.20 and a 1 year high of $22.13.

IMAX (NYSE:IMAX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.11. The firm had revenue of $88.96 million during the quarter, compared to analysts’ expectations of $74.52 million. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.17 EPS. Equities analysts anticipate that IMAX Co. will post 0.69 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.