Allspring Global Investments Holdings LLC Has $926,000 Stake in IMAX Co. (NYSE:IMAX)

Allspring Global Investments Holdings LLC lowered its position in IMAX Co. (NYSE:IMAXGet Rating) by 2.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 65,627 shares of the company’s stock after selling 1,848 shares during the period. Allspring Global Investments Holdings LLC’s holdings in IMAX were worth $926,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IMAX. Mizuho Markets Americas LLC increased its stake in shares of IMAX by 1.3% during the 3rd quarter. Mizuho Markets Americas LLC now owns 296,625 shares of the company’s stock worth $4,188,000 after purchasing an additional 3,700 shares during the last quarter. Foundry Partners LLC boosted its holdings in IMAX by 11.9% in the third quarter. Foundry Partners LLC now owns 304,700 shares of the company’s stock worth $4,302,000 after purchasing an additional 32,450 shares in the last quarter. Laurus Investment Counsel Inc. acquired a new position in IMAX during the third quarter worth $2,912,000. Mission Wealth Management LP raised its holdings in IMAX by 3.5% during the third quarter. Mission Wealth Management LP now owns 49,150 shares of the company’s stock valued at $694,000 after buying an additional 1,661 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of IMAX by 338.2% in the second quarter. Thrivent Financial for Lutherans now owns 208,560 shares of the company’s stock worth $3,522,000 after buying an additional 160,961 shares during the last quarter. Institutional investors own 75.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price objective on IMAX from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, November 1st. Wedbush reissued an “outperform” rating and issued a $20.00 price target on shares of IMAX in a research report on Tuesday, November 1st. Benchmark decreased their price objective on shares of IMAX from $25.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, October 6th. B. Riley lifted their target price on shares of IMAX from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, December 5th. Finally, Rosenblatt Securities restated a “buy” rating and set a $22.00 price target on shares of IMAX in a report on Tuesday, January 17th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.43.

IMAX Price Performance

NYSE IMAX opened at $16.18 on Friday. The company’s fifty day moving average is $15.45 and its two-hundred day moving average is $15.34. IMAX Co. has a 52-week low of $12.13 and a 52-week high of $21.25. The firm has a market capitalization of $905.64 million, a price-to-earnings ratio of -59.93, a P/E/G ratio of 3.04 and a beta of 1.29.

IMAX (NYSE:IMAXGet Rating) last released its earnings results on Monday, October 31st. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. IMAX had a negative net margin of 4.92% and a negative return on equity of 2.98%. The business had revenue of $68.76 million during the quarter, compared to analysts’ expectations of $68.39 million. During the same quarter last year, the company earned ($0.16) earnings per share. The firm’s revenue was up 21.5% on a year-over-year basis. As a group, sell-side analysts expect that IMAX Co. will post -0.31 earnings per share for the current fiscal year.

Insider Transactions at IMAX

In related news, CMO Denny Tu sold 6,000 shares of the company’s stock in a transaction on Friday, December 2nd. The stock was sold at an average price of $17.26, for a total value of $103,560.00. Following the completion of the transaction, the chief marketing officer now directly owns 9,421 shares in the company, valued at $162,606.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 22.22% of the stock is owned by insiders.

IMAX Profile

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IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company worldwide. It offers cinematic solution through proprietary software, theater architecture, intellectual property, and specialized equipment. The company offers IMAX Digital Re-Mastering (DMR), a proprietary technology that digitally enhances the image resolution, visual clarity, and sound quality of motion picture films for projection on IMAX screens; IMAX theater systems to exhibitor customers through sales, leases, and joint revenue sharing arrangements; and digital projection systems.

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Institutional Ownership by Quarter for IMAX (NYSE:IMAX)

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