Knights of Columbus Asset Advisors LLC Trims Holdings in IMAX Corporation $IMAX

Knights of Columbus Asset Advisors LLC reduced its stake in shares of IMAX Corporation (NYSE:IMAX) by 25.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,914 shares of the company’s stock after selling 24,703 shares during the quarter. Knights of Columbus Asset Advisors LLC owned approximately 0.13% of IMAX worth $2,355,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. boosted its position in IMAX by 125.0% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock valued at $25,000 after buying an additional 500 shares during the period. Legal & General Group Plc boosted its holdings in shares of IMAX by 1.5% in the second quarter. Legal & General Group Plc now owns 50,969 shares of the company’s stock valued at $1,425,000 after purchasing an additional 756 shares during the period. XTX Topco Ltd grew its stake in IMAX by 3.7% in the second quarter. XTX Topco Ltd now owns 23,541 shares of the company’s stock worth $658,000 after purchasing an additional 842 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in IMAX by 467.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,215 shares of the company’s stock worth $40,000 after purchasing an additional 1,001 shares during the period. Finally, First Horizon Corp bought a new stake in IMAX during the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on IMAX. Barrington Research reaffirmed an “outperform” rating and issued a $42.00 price objective on shares of IMAX in a research note on Monday, January 26th. Macquarie upped their price target on shares of IMAX from $39.00 to $44.00 and gave the stock an “outperform” rating in a research report on Thursday, January 15th. Wedbush lifted their price objective on shares of IMAX from $39.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, December 8th. B. Riley restated a “buy” rating on shares of IMAX in a report on Monday, December 8th. Finally, Benchmark reaffirmed a “buy” rating on shares of IMAX in a research report on Monday, January 5th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $42.70.

Insiders Place Their Bets

In other news, EVP Giovanni M. Dolci sold 6,188 shares of the stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $34.25, for a total value of $211,939.00. Following the completion of the sale, the executive vice president directly owned 33,000 shares in the company, valued at $1,130,250. This represents a 15.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Robert D. Lister sold 50,143 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $34.67, for a total transaction of $1,738,457.81. Following the completion of the sale, the vice president directly owned 161,421 shares of the company’s stock, valued at approximately $5,596,466.07. This trade represents a 23.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 23.18% of the company’s stock.

IMAX Price Performance

NYSE IMAX opened at $34.90 on Friday. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 49.15, a PEG ratio of 1.70 and a beta of 0.37. The stock’s fifty day moving average price is $36.37 and its 200 day moving average price is $32.53. IMAX Corporation has a 1 year low of $20.48 and a 1 year high of $39.98.

IMAX Profile

IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.

Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.