IMAX Co. (NYSE:IMAX) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its holdings in IMAX Co. (NYSE:IMAX) by 69.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,946 shares of the company’s stock after purchasing an additional 42,562 shares during the quarter. Principal Financial Group Inc. owned about 0.20% of IMAX worth $2,661,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its stake in IMAX by 108.4% in the 3rd quarter. FMR LLC now owns 3,949,643 shares of the company’s stock worth $81,007,000 after acquiring an additional 2,054,031 shares during the last quarter. Royce & Associates LP raised its stake in IMAX by 3.1% in the 3rd quarter. Royce & Associates LP now owns 1,822,616 shares of the company’s stock worth $37,382,000 after acquiring an additional 54,850 shares during the last quarter. Victory Capital Management Inc. raised its stake in IMAX by 9.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,420,592 shares of the company’s stock worth $29,136,000 after acquiring an additional 127,371 shares during the last quarter. Mizuho Markets Americas LLC raised its stake in IMAX by 47.5% in the 3rd quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company’s stock worth $7,952,000 after acquiring an additional 124,811 shares during the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in IMAX in the 3rd quarter worth $6,322,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

IMAX Trading Down 0.4 %

NYSE IMAX opened at $24.92 on Wednesday. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 50.85, a PEG ratio of 1.49 and a beta of 1.22. IMAX Co. has a twelve month low of $14.94 and a twelve month high of $27.77. The stock has a 50-day moving average of $24.76 and a 200 day moving average of $23.28.

IMAX (NYSE:IMAX) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share 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 return on equity of 8.60% and a net margin of 7.40%. Equities analysts predict that IMAX Co. will post 0.91 EPS for the current fiscal year.

Analyst Ratings Changes

IMAX has been the subject of a number of research analyst reports. Rosenblatt Securities raised their target price on IMAX from $28.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Barrington Research raised their target price on IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Macquarie raised their target price on IMAX from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note 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, StockNews.com raised IMAX from a “hold” rating to a “buy” rating in a report on Monday. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $30.67.

Insider Buying and Selling

In other IMAX news, EVP Robert D. Lister sold 55,910 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the completion of the sale, the executive vice president now directly owns 138,889 shares in the company, valued at approximately $3,541,669.50. The trade was a 28.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kenneth Ian Weissman sold 6,309 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.51, for a total value of $160,942.59. Following the sale, the insider now owns 25,139 shares of the company’s stock, valued at approximately $641,295.89. This trade represents a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,176 shares of company stock valued at $1,662,110. 24.08% of the stock is owned by company insiders.

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.