Virtue Capital Management LLC Makes New $1.22 Million Investment in IMAX Corporation $IMAX

Virtue Capital Management LLC acquired a new position in IMAX Corporation (NYSE:IMAX) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 22,322 shares of the company’s stock, valued at approximately $1,223,000.

Other large investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of IMAX during the 2nd quarter worth about $115,881,000. Dimensional Fund Advisors LP increased its stake in shares of IMAX by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,237,230 shares of the company’s stock valued at $47,026,000 after purchasing an additional 23,401 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of IMAX by 51.8% in the 2nd quarter. Wellington Management Group LLP now owns 800,193 shares of the company’s stock valued at $31,896,000 after purchasing an additional 273,122 shares in the last quarter. Nantahala Capital Management LLC acquired a new position in IMAX in the 2nd quarter worth about $26,228,239. Finally, Bank of America Corp DE acquired a new position in IMAX in the 2nd quarter worth about $17,420,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IMAX. Roth Capital reiterated a “buy” rating and set a $62.00 price target on shares of IMAX in a research report on Friday, October 23rd. HC Wainwright restated a “buy” rating on shares of IMAX in a research report on Friday, July 24th. The Goldman Sachs Group upped their target price on IMAX from $42.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, September 4th. Barrington Research increased their target price on IMAX from $46.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Finally, Wedbush lifted their price target on shares of IMAX from $54.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, IMAX has an average rating of “Moderate Buy” and a consensus target price of $58.15.

IMAX Price Performance

NYSE IMAX opened at $49.86 on Tuesday. The company has a market cap of $2.73 billion, a PE ratio of 69.25, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49. The stock’s 50 day simple moving average is $52.43 and its 200-day simple moving average is $42.95. IMAX Corporation has a 1-year low of $31.27 and a 1-year high of $57.73.

Insider Transactions at IMAX

In related news, insider Kenneth Weissman sold 8,000 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $54.54, for a total value of $436,320.00. Following the completion of the transaction, the insider directly owned 28,205 shares of the company’s stock, valued at approximately $1,538,300.70. This represents a 22.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert Lister sold 22,500 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $51.58, for a total value of $1,160,550.00. Following the completion of the transaction, the vice president directly owned 182,375 shares of the company’s stock, valued at approximately $9,406,902.50. This represents a 10.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 507,257 shares of company stock valued at $26,673,571 over the last ninety days. Company insiders own 20.55% of the company’s stock.

IMAX Company Profile

IMAX Corporation (NYSE: IMAX) is a global entertainment technology company that specializes in premium large-format cinema experiences. The company designs and supplies specialized theater systems that combine large screens, high-resolution projection, advanced sound, and immersive theater design to present feature films, documentaries, live events, and other content.

IMAX supports its theater partners with projection and sound equipment, theater design and installation services, and technology and maintenance support.