Rice Hall James & Associates LLC boosted its stake in Imax Corporation (NYSE:IMAX) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 625,687 shares of the company’s stock after buying an additional 867 shares during the period. Rice Hall James & Associates LLC’s holdings in Imax Corporation were worth $13,765,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sei Investments Co. boosted its position in shares of Imax Corporation by 25.0% in the first quarter. Sei Investments Co. now owns 206,850 shares of the company’s stock valued at $7,033,000 after buying an additional 41,414 shares in the last quarter. Two Sigma Securities LLC purchased a new position in shares of Imax Corporation during the first quarter valued at about $331,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of 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 in the last quarter. Paloma Partners Management Co purchased a new position in shares of Imax Corporation during the first quarter valued at about $1,504,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Imax Corporation by 22.9% in the first 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. Hedge funds and other institutional investors own 89.54% of the company’s stock.

Imax Corporation (IMAX) opened at 19.00 on Friday. The firm’s 50-day moving average price is $21.42 and its 200 day moving average price is $28.21. Imax Corporation has a 12 month low of $18.90 and a 12 month high of $35.30. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 128.38 and a beta of 0.90.

Imax Corporation (NYSE:IMAX) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.17. Imax Corporation had a return on equity of 2.39% and a net margin of 2.81%. The business had revenue of $87.76 million for the quarter, compared to the consensus estimate of $89.26 million. During the same quarter in the prior year, the company earned $0.18 EPS. The business’s revenue was down 4.3% compared to the same quarter last year. On average, analysts anticipate that Imax Corporation will post $0.62 earnings per share for the current year.

Imax Corporation announced that its Board of Directors has authorized a share repurchase program on Monday, June 12th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to repurchase up to 12.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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IMAX has been the topic of several recent analyst reports. Zacks Investment Research cut shares of Imax Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. ValuEngine cut shares of Imax Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Roth Capital set a $37.00 target price on shares of Imax Corporation and gave the stock a “buy” rating in a report on Thursday, April 20th. Piper Jaffray Companies set a $35.00 target price on shares of Imax Corporation and gave the stock a “buy” rating in a report on Friday, July 21st. Finally, TheStreet cut shares of Imax Corporation from a “b-” rating to a “c” rating in a report on Wednesday, May 17th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. Imax Corporation currently has an average rating of “Hold” and a consensus target price of $34.82.

In related news, CFO Patrick Mcclymont sold 1,760 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $20.50, for a total transaction of $36,080.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric A. Demirian sold 2,670 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $25.10, for a total value of $67,017.00. Following the sale, the director now owns 17,945 shares of the company’s stock, valued at $450,419.50. The disclosure for this sale can be found here. 18.90% of the stock is currently owned by corporate insiders.

About Imax Corporation

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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Institutional Ownership by Quarter for Imax Corporation (NYSE:IMAX)

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