Imax Corporation (IMAX) Shares Bought by Laurion Capital Management LP
Laurion Capital Management LP increased its holdings in shares of Imax Corporation (NYSE:IMAX) by 35.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,022 shares of the company’s stock after buying an additional 3,422 shares during the quarter. Laurion Capital Management LP’s holdings in Imax Corporation were worth $287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp increased its position in Imax Corporation by 22.9% during the 1st quarter. Bank of New York Mellon Corp now owns 943,621 shares of the company’s stock valued at $32,083,000 after buying an additional 175,539 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Imax Corporation by 78.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,774 shares of the company’s stock valued at $156,000 after buying an additional 2,546 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in Imax Corporation by 4.4% in the first quarter. Parametric Portfolio Associates LLC now owns 105,030 shares of the company’s stock valued at $3,571,000 after buying an additional 4,385 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Imax Corporation in the first quarter valued at about $173,000. Finally, American International Group Inc. raised its stake in Imax Corporation by 5.0% in the first quarter. American International Group Inc. now owns 35,583 shares of the company’s stock valued at $1,210,000 after buying an additional 1,701 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.
In other Imax Corporation news, CEO Greg Foster sold 9,417 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $19.55, for a total transaction of $184,102.35. Following the completion of the sale, the chief executive officer now directly owns 67,018 shares of the company’s stock, valued at approximately $1,310,201.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Patrick Mcclymont sold 1,760 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $20.50, for a total value of $36,080.00. The disclosure for this sale can be found here. 18.90% of the stock is owned by corporate insiders.
Imax Corporation (NYSE:IMAX) opened at 22.65 on Tuesday. The stock has a market cap of $1.47 billion, a PE ratio of 153.04 and a beta of 0.99. Imax Corporation has a one year low of $17.58 and a one year high of $35.30. The company’s 50 day moving average is $20.27 and its 200 day moving average is $25.07.
Imax Corporation (NYSE:IMAX) last announced its earnings results on Wednesday, July 26th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.17. Imax Corporation had a net margin of 2.81% and a return on equity of 2.39%. The business had revenue of $87.76 million for the quarter, compared to analysts’ expectations of $89.26 million. During the same period in the previous year, the company posted $0.18 EPS. The company’s quarterly revenue was down 4.3% on a year-over-year basis. On average, equities research analysts expect that Imax Corporation will post $0.61 EPS for the current year.
Imax Corporation announced that its board has approved a stock buyback program on Monday, June 12th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to reacquire up to 12.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Several equities research analysts have weighed in on the company. B. Riley reissued a “buy” rating and issued a $43.50 price target on shares of Imax Corporation in a report on Sunday, June 18th. Piper Jaffray Companies restated a “buy” rating on shares of Imax Corporation in a report on Tuesday, June 13th. Roth Capital set a $33.00 price objective on shares of Imax Corporation and gave the company a “buy” rating in a report on Tuesday, June 13th. Canaccord Genuity set a $33.00 price objective on shares of Imax Corporation and gave the company a “buy” rating in a research report on Thursday, June 8th. Finally, MKM Partners decreased their price objective on shares of Imax Corporation from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. Imax Corporation has a consensus rating of “Hold” and a consensus target price of $32.60.
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Imax Corporation Company Profile
IMAX Corporation is an entertainment technology company. The Company operates through seven segments: IMAX systems; theater system maintenance; joint revenue sharing arrangements; film production and IMAX DMR; film distribution; film post-production, and other. The IMAX systems segment designs, manufactures, sells or leases IMAX theater projection system equipment.
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