Cipher Capital LP Invests $306,000 in Imax Corp (IMAX)
Cipher Capital LP bought a new position in shares of Imax Corp (NYSE:IMAX) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 16,282 shares of the company’s stock, valued at approximately $306,000.
Several other hedge funds also recently made changes to their positions in IMAX. Macquarie Group Ltd. acquired a new position in shares of Imax during the third quarter worth approximately $113,000. Point72 Hong Kong Ltd lifted its position in shares of Imax by 185.5% during the third quarter. Point72 Hong Kong Ltd now owns 5,921 shares of the company’s stock worth $153,000 after purchasing an additional 3,847 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Imax by 29.8% during the fourth quarter. Principal Financial Group Inc. now owns 10,367 shares of the company’s stock worth $195,000 after purchasing an additional 2,379 shares in the last quarter. Stone Ridge Asset Management LLC acquired a new position in shares of Imax during the fourth quarter worth approximately $218,000. Finally, AQR Capital Management LLC acquired a new position in shares of Imax during the third quarter worth approximately $278,000. Institutional investors own 79.36% of the company’s stock.
In other Imax news, insider Robert D. Lister sold 59,767 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $22.54, for a total value of $1,347,148.18. Following the completion of the sale, the insider now owns 39,163 shares of the company’s stock, valued at $882,734.02. The sale 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 44,767 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $22.36, for a total transaction of $1,000,990.12. Following the completion of the sale, the vice president now directly owns 39,163 shares of the company’s stock, valued at approximately $875,684.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 123,205 shares of company stock valued at $2,766,929. 18.70% of the stock is currently owned by insiders.
Imax (NYSE:IMAX) last posted its quarterly earnings results on Tuesday, February 26th. The company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. The business had revenue of $109.00 million during the quarter, compared to the consensus estimate of $101.42 million. Imax had a net margin of 6.10% and a return on equity of 6.44%. Imax’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 earnings per share. On average, analysts predict that Imax Corp will post 0.82 EPS for the current year.
A number of equities analysts have recently issued reports on the stock. Barrington Research reiterated a “buy” rating and set a $27.00 target price on shares of Imax in a research report on Wednesday, March 6th. Canaccord Genuity downgraded shares of Imax from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a research note on Monday, February 25th. Wedbush reissued an “outperform” rating and set a $28.00 price target on shares of Imax in a research note on Friday, February 22nd. ValuEngine raised shares of Imax from a “sell” rating to a “hold” rating in a research note on Saturday, January 5th. Finally, B. Riley set a $34.00 price target on shares of Imax and gave the stock a “buy” rating in a research note on Wednesday, January 2nd. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $26.83.
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IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company that specializes in motion picture technologies and presentations worldwide. It offers cinematic solution comprising proprietary software, theater architecture, and equipment. The company engages in Digital Re-Mastering (DMR) of films into the IMAX format for exhibition in the IMAX theater network; the provision of IMAX premium theater systems to exhibitor customers through sales, long-term leases, or joint revenue sharing arrangements; the distribution of documentary films; the provision of production technical support and film post-production services; the ownership and operation of IMAX theaters; and the provision of camera and other miscellaneous items rental services.
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