US Bancorp DE Buys 1,452 Shares of IMAX Co. (NYSE:IMAX)

US Bancorp DE lifted its stake in shares of IMAX Co. (NYSE:IMAX) by 23.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,656 shares of the company’s stock after purchasing an additional 1,452 shares during the quarter. US Bancorp DE’s holdings in IMAX were worth $157,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Janney Montgomery Scott LLC raised its stake in shares of IMAX by 28.0% during the first quarter. Janney Montgomery Scott LLC now owns 33,011 shares of the company’s stock valued at $534,000 after acquiring an additional 7,226 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of IMAX by 63.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 20,924 shares of the company’s stock worth $338,000 after acquiring an additional 8,100 shares during the last quarter. Mizuho Markets Americas LLC raised its position in shares of IMAX by 5.7% during the first quarter. Mizuho Markets Americas LLC now owns 213,525 shares of the company’s stock worth $3,453,000 after acquiring an additional 11,500 shares during the last quarter. Vanguard Group Inc. boosted its holdings in IMAX by 13.2% in the first quarter. Vanguard Group Inc. now owns 584,795 shares of the company’s stock valued at $9,456,000 after acquiring an additional 68,155 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in IMAX by 178.7% during the 1st quarter. Acadian Asset Management LLC now owns 490,917 shares of the company’s stock valued at $7,934,000 after purchasing an additional 314,742 shares during the period. 93.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IMAX has been the subject of several recent analyst reports. Roth Mkm increased their price objective on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barrington Research reiterated an “outperform” rating and set a $24.00 price target on shares of IMAX in a report on Thursday, October 31st. Rosenblatt Securities reissued a “buy” rating and issued a $28.00 price objective on shares of IMAX in a research note on Thursday, October 31st. Macquarie lifted their target price on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. increased their price target on IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, IMAX has a consensus rating of “Moderate Buy” and an average target price of $24.22.

IMAX Trading Down 1.4 %

IMAX opened at $24.21 on Friday. IMAX Co. has a 1-year low of $13.20 and a 1-year high of $25.28. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 55.02, a PEG ratio of 1.59 and a beta of 1.22. The company’s fifty day moving average price is $21.37 and its two-hundred day moving average price is $19.20.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.12. The business had revenue of $91.50 million for the quarter, compared to analysts’ expectations of $93.71 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 EPS. As a group, equities analysts forecast that IMAX Co. will post 0.76 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.