14,939 Shares in IMAX Corporation $IMAX Bought by Severin Investments LLC

Severin Investments LLC bought a new stake in IMAX Corporation (NYSE:IMAX) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,939 shares of the company’s stock, valued at approximately $568,000.

A number of other large investors have also recently bought and sold shares of IMAX. Divisadero Street Capital Management LP bought a new stake in shares of IMAX during the 3rd quarter valued at about $20,975,000. Hedges Asset Management LLC acquired a new position in IMAX in the fourth quarter valued at approximately $2,088,000. Citigroup Inc. boosted its holdings in shares of IMAX by 267.7% during the 3rd quarter. Citigroup Inc. now owns 66,769 shares of the company’s stock worth $2,187,000 after buying an additional 48,609 shares in the last quarter. Pier Capital LLC boosted its holdings in shares of IMAX by 85.0% during the 4th quarter. Pier Capital LLC now owns 244,589 shares of the company’s stock worth $9,040,000 after buying an additional 112,397 shares in the last quarter. Finally, Chase Investment Counsel Corp acquired a new stake in shares of IMAX during the 4th quarter worth approximately $3,070,000. 93.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of IMAX from $48.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Barrington Research raised their price target on shares of IMAX from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Wall Street Zen cut shares of IMAX from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Wedbush reaffirmed an “outperform” rating and issued a $46.00 price target on shares of IMAX in a research note on Thursday, April 23rd. Finally, Weiss Ratings lowered shares of IMAX from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 23rd. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $48.00.

Insider Activity at IMAX

In related news, CEO Richard L. Gelfond sold 8,943 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $37.33, for a total value of $333,842.19. Following the sale, the chief executive officer owned 765,002 shares in the company, valued at $28,557,524.66. This represents a 1.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 365,064 shares of company stock worth $13,719,850 over the last ninety days. Insiders own 20.55% of the company’s stock.

IMAX Stock Down 1.6%

Shares of IMAX opened at $39.84 on Wednesday. The business’s fifty day moving average is $38.69 and its 200 day moving average is $37.81. IMAX Corporation has a 12-month low of $24.20 and a 12-month high of $45.52. The stock has a market cap of $2.19 billion, a P/E ratio of 61.29, a P/E/G ratio of 1.43 and a beta of 0.37.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. IMAX had a net margin of 9.08% and a return on equity of 13.61%. The business had revenue of $81.38 million during the quarter, compared to analyst estimates of $79.82 million. During the same quarter in the previous year, the business posted $0.13 EPS. IMAX’s quarterly revenue was down 6.1% on a year-over-year basis. On average, analysts expect that IMAX Corporation will post 1.34 EPS for the current year.

IMAX Company Profile

IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.

Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.