IMAX (NYSE:IMAX – Free Report) had its price objective decreased by JPMorgan Chase & Co. from $20.00 to $17.00 in a report issued on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.
A number of other analysts have also recently weighed in on IMAX. TheStreet cut shares of IMAX from a b- rating to a c rating in a report on Thursday, November 30th. The Goldman Sachs Group lowered their price objective on shares of IMAX from $15.00 to $13.00 and set a sell rating for the company in a research note on Thursday, January 11th. Benchmark cut their target price on IMAX from $24.00 to $22.00 and set a buy rating on the stock in a research report on Thursday, January 18th. Rosenblatt Securities reissued a buy rating and issued a $30.00 price objective on shares of IMAX in a report on Tuesday, December 5th. Finally, Wedbush reaffirmed an outperform rating and set a $26.00 target price on shares of IMAX in a report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $21.86.
IMAX Price Performance
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. Macquarie Group Ltd. boosted its stake in shares of IMAX by 16.8% in the first quarter. Macquarie Group Ltd. now owns 3,002,830 shares of the company’s stock worth $57,594,000 after acquiring an additional 431,231 shares during the last quarter. Invesco Ltd. grew its holdings in shares of IMAX by 2.2% during the first quarter. Invesco Ltd. now owns 2,217,169 shares of the company’s stock worth $41,971,000 after buying an additional 48,232 shares in the last quarter. Millennium Management LLC raised its position in shares of IMAX by 21.3% in the fourth quarter. Millennium Management LLC now owns 2,194,019 shares of the company’s stock valued at $32,164,000 after buying an additional 385,912 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of IMAX by 1.8% in the fourth quarter. Alliancebernstein L.P. now owns 2,018,885 shares of the company’s stock worth $29,597,000 after buying an additional 36,620 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in IMAX by 6.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,684,780 shares of the company’s stock valued at $32,313,000 after acquiring an additional 107,989 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.
IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates through three segments: IMAX Technology Network; IMAX Technology Sales and Maintenance; and Film Distribution and Post-Production. 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.
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