Gabelli Funds LLC Has $391,000 Stock Position in IMAX Co. (NYSE:IMAX)

Gabelli Funds LLC trimmed its position in IMAX Co. (NYSE:IMAXFree Report) by 10.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,000 shares of the company’s stock after selling 3,000 shares during the quarter. Gabelli Funds LLC’s holdings in IMAX were worth $391,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its holdings in IMAX by 545.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock worth $75,000 after buying an additional 4,218 shares during the last quarter. Kodai Capital Management LP bought a new position in IMAX during the fourth quarter worth about $5,287,000. Eagle Asset Management Inc. boosted its holdings in IMAX by 27.2% during the fourth quarter. Eagle Asset Management Inc. now owns 364,741 shares of the company’s stock worth $5,478,000 after buying an additional 77,966 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in IMAX by 189.7% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 45,183 shares of the company’s stock worth $679,000 after buying an additional 29,585 shares during the last quarter. Finally, ING Groep NV boosted its holdings in IMAX by 61.9% during the fourth quarter. ING Groep NV now owns 109,602 shares of the company’s stock worth $1,646,000 after buying an additional 41,893 shares during the last quarter. 93.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IMAX has been the topic of a number of recent analyst reports. Barrington Research restated an “outperform” rating and set a $24.00 target price on shares of IMAX in a report on Monday, April 22nd. Rosenblatt Securities cut their price objective on IMAX from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, February 13th. Benchmark reiterated a “buy” rating and set a $22.00 price objective on shares of IMAX in a report on Friday, April 26th. Finally, Wedbush reiterated an “outperform” rating and set a $22.00 price objective on shares of IMAX in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, IMAX currently has a consensus rating of “Moderate Buy” and an average price target of $20.57.

View Our Latest Research Report on IMAX

Insider Activity at IMAX

In related news, VP Robert D. Lister sold 25,000 shares of IMAX stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $16.87, for a total value of $421,750.00. Following the sale, the vice president now owns 138,889 shares of the company’s stock, valued at approximately $2,343,057.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other IMAX news, EVP Calamera Pablo sold 6,130 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $17.05, for a total transaction of $104,516.50. Following the transaction, the executive vice president now owns 42,269 shares of the company’s stock, valued at approximately $720,686.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert D. Lister sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $16.87, for a total value of $421,750.00. Following the transaction, the vice president now directly owns 138,889 shares in the company, valued at approximately $2,343,057.43. The disclosure for this sale can be found here. 24.08% of the stock is owned by insiders.

IMAX Stock Performance

Shares of IMAX stock opened at $15.17 on Tuesday. The business’s 50 day simple moving average is $16.63 and its 200 day simple moving average is $15.81. IMAX Co. has a 52-week low of $13.20 and a 52-week high of $20.70. The firm has a market cap of $798.25 million, a PE ratio of 31.60, a P/E/G ratio of 1.27 and a beta of 1.21.

IMAX (NYSE:IMAXGet Free Report) last announced its earnings results on Thursday, April 25th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. IMAX had a return on equity of 9.47% and a net margin of 7.13%. The business had revenue of $79.12 million for the quarter, compared to analyst estimates of $77.88 million. As a group, equities research analysts predict that IMAX Co. will post 0.6 EPS for the current year.

IMAX Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for IMAX (NYSE:IMAX)

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