Gabelli Funds LLC Decreases Stock Position in IMAX Co. (NYSE:IMAX)

Gabelli Funds LLC lessened its position in IMAX Co. (NYSE:IMAXFree Report) by 19.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,000 shares of the company’s stock after selling 7,000 shares during the period. Gabelli Funds LLC owned approximately 0.05% of IMAX worth $560,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Macquarie Group Ltd. grew its position in IMAX by 16.8% in the 1st quarter. Macquarie Group Ltd. now owns 3,002,830 shares of the company’s stock valued at $57,594,000 after buying an additional 431,231 shares in the last quarter. Invesco Ltd. boosted its position in shares of IMAX by 2.2% during the 1st quarter. Invesco Ltd. now owns 2,217,169 shares of the company’s stock valued at $41,971,000 after purchasing an additional 48,232 shares in the last quarter. Millennium Management LLC boosted its position in shares of IMAX by 21.3% during the 4th quarter. Millennium Management LLC now owns 2,194,019 shares of the company’s stock valued at $32,164,000 after purchasing an additional 385,912 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of IMAX by 1.8% during the 4th quarter. Alliancebernstein L.P. now owns 2,018,885 shares of the company’s stock valued at $29,597,000 after purchasing an additional 36,620 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of IMAX by 6.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,684,780 shares of the company’s stock valued at $32,313,000 after purchasing an additional 107,989 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

IMAX Stock Performance

IMAX stock opened at $14.06 on Friday. The stock has a market cap of $767.82 million, a P/E ratio of 30.57, a P/E/G ratio of 1.48 and a beta of 1.22. The firm has a 50 day simple moving average of $14.80 and a 200 day simple moving average of $17.12. IMAX Co. has a 52 week low of $13.20 and a 52 week high of $21.82.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating in a research report on Saturday, January 27th. JPMorgan Chase & Co. dropped their target price on shares of IMAX from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. Wedbush reissued an “outperform” rating and issued a $26.00 target price on shares of IMAX in a research report on Thursday, October 26th. B. Riley dropped their target price on shares of IMAX from $27.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, January 2nd. Finally, TheStreet downgraded shares of IMAX from a “b-” rating to a “c” rating in a research report on Thursday, November 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, IMAX presently has a consensus rating of “Moderate Buy” and an average target price of $21.86.

Read Our Latest Stock Report on IMAX

IMAX Company Profile

(Free Report)

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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Institutional Ownership by Quarter for IMAX (NYSE:IMAX)

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