Great West Life Assurance Co. Can lessened its holdings in IMAX Co. (NYSE:IMAX) by 31.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,512 shares of the company’s stock after selling 1,178 shares during the period. Great West Life Assurance Co. Can’s holdings in IMAX were worth $54,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. US Bancorp DE increased its position in IMAX by 31.9% in the second quarter. US Bancorp DE now owns 2,853 shares of the company’s stock worth $61,000 after purchasing an additional 690 shares during the last quarter. Evoke Wealth LLC increased its position in IMAX by 23.3% in the second quarter. Evoke Wealth LLC now owns 5,300 shares of the company’s stock worth $114,000 after purchasing an additional 1,000 shares during the last quarter. SRS Capital Advisors Inc. bought a new position in IMAX during the second quarter valued at $116,000. HighTower Advisors LLC bought a new position in IMAX during the first quarter valued at $278,000. Finally, Squarepoint Ops LLC bought a new position in IMAX during the first quarter valued at $309,000. Institutional investors own 74.08% of the company’s stock.
IMAX has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of IMAX from $24.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 28th. Barrington Research cut their price objective on shares of IMAX from $27.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, July 29th. B. Riley boosted their price objective on shares of IMAX from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Monday. TheStreet cut shares of IMAX from a “c-” rating to a “d+” rating in a research report on Thursday, July 29th. Finally, Colliers Securities reissued a “buy” rating and set a $22.00 target price on shares of IMAX in a research note on Monday, July 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $24.06.
IMAX (NYSE:IMAX) last released its quarterly earnings data on Monday, July 26th. The company reported ($0.12) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.15. IMAX had a negative net margin of 50.56% and a negative return on equity of 22.38%. The company had revenue of $50.96 million during the quarter, compared to analyst estimates of $43.79 million. During the same period in the prior year, the firm earned ($0.44) earnings per share. The firm’s revenue for the quarter was up 475.4% compared to the same quarter last year. As a group, equities analysts forecast that IMAX Co. will post -0.69 EPS for the current year.
IMAX Company Profile
IMAX Corp. is an entertainment technology company, which engages in the business of motion picture technologies and presentations. It operates through following four business segments: IMAX Technology Network; IMAX Technology Sales and Maintenance; New Business Initiatives; and Film Distribution and Post-Production.
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