Campbell & CO Investment Adviser LLC Makes New Investment in IMAX Corporation $IMAX

Campbell & CO Investment Adviser LLC acquired a new stake in IMAX Corporation (NYSE:IMAX) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 38,251 shares of the company’s stock, valued at approximately $1,069,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ridgewood Investments LLC acquired a new stake in shares of IMAX during the 2nd quarter valued at about $62,000. Y Intercept Hong Kong Ltd acquired a new stake in IMAX during the first quarter valued at approximately $202,000. Fox Run Management L.L.C. bought a new stake in shares of IMAX in the 1st quarter valued at approximately $289,000. Neuberger Berman Group LLC grew its stake in shares of IMAX by 4.1% in the 1st quarter. Neuberger Berman Group LLC now owns 13,838 shares of the company’s stock valued at $365,000 after purchasing an additional 542 shares during the period. Finally, US Bancorp DE raised its holdings in shares of IMAX by 33.1% in the 1st quarter. US Bancorp DE now owns 16,338 shares of the company’s stock worth $431,000 after buying an additional 4,062 shares in the last quarter. 93.51% of the stock is owned by institutional investors.

Insider Buying and Selling at IMAX

In related news, VP Robert D. Lister sold 50,143 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $34.67, for a total value of $1,738,457.81. Following the transaction, the vice president owned 161,421 shares in the company, valued at $5,596,466.07. This trade represents a 23.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Giovanni M. Dolci sold 6,188 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $34.25, for a total value of $211,939.00. Following the sale, the executive vice president directly owned 33,000 shares of the company’s stock, valued at $1,130,250. This represents a 15.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 76,331 shares of company stock valued at $2,606,397 over the last three months. Insiders own 23.18% of the company’s stock.

IMAX Trading Up 2.4%

Shares of NYSE IMAX opened at $35.96 on Thursday. IMAX Corporation has a 1-year low of $20.48 and a 1-year high of $36.16. The company has a 50-day moving average of $32.44 and a two-hundred day moving average of $28.88. The company has a market cap of $1.93 billion, a PE ratio of 50.65, a P/E/G ratio of 2.05 and a beta of 0.60.

IMAX (NYSE:IMAX) last released its quarterly earnings results on Thursday, October 23rd. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.31 by $0.16. IMAX had a net margin of 10.47% and a return on equity of 9.91%. The business had revenue of $106.65 million for the quarter, compared to analysts’ expectations of $102.88 million. During the same period in the prior year, the firm earned $0.35 earnings per share. IMAX’s revenue was up 16.6% compared to the same quarter last year. As a group, equities research analysts forecast that IMAX Corporation will post 0.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Weiss Ratings raised IMAX from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, November 7th. Roth Capital boosted their target price on shares of IMAX from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $42.00 target price on shares of IMAX in a report on Friday, October 24th. B. Riley reissued a “buy” rating on shares of IMAX in a report on Friday, October 10th. Finally, Barrington Research restated an “outperform” rating and issued a $37.00 price target on shares of IMAX in a research report on Thursday, October 23rd. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, IMAX has an average rating of “Moderate Buy” and an average price target of $36.67.

About IMAX

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.