Renaissance Group LLC Trims Stock Holdings in IMAX Corporation $IMAX

Renaissance Group LLC lessened its stake in shares of IMAX Corporation (NYSE:IMAX) by 43.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,637 shares of the company’s stock after selling 35,826 shares during the quarter. Renaissance Group LLC owned 0.09% of IMAX worth $1,527,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC boosted its position in shares of IMAX by 47.9% during the 1st quarter. AQR Capital Management LLC now owns 56,348 shares of the company’s stock worth $1,485,000 after purchasing an additional 18,238 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of IMAX by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,486 shares of the company’s stock worth $672,000 after buying an additional 1,091 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of IMAX by 7.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,714 shares of the company’s stock valued at $4,208,000 after buying an additional 11,736 shares in the last quarter. Aurora Investment Counsel purchased a new stake in shares of IMAX in the 2nd quarter valued at $1,955,000. Finally, Y Intercept Hong Kong Ltd lifted its stake in IMAX by 513.3% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 47,108 shares of the company’s stock worth $1,317,000 after acquiring an additional 39,427 shares in the last quarter. 93.51% of the stock is owned by hedge funds and other institutional investors.

IMAX Trading Up 2.3%

Shares of IMAX opened at $37.23 on Friday. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 52.44, a PEG ratio of 1.84 and a beta of 0.38. The firm’s fifty day simple moving average is $36.33 and its 200-day simple moving average is $32.83. IMAX Corporation has a twelve month low of $20.48 and a twelve month high of $39.98.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on IMAX shares. Wells Fargo & Company boosted their price target on shares of IMAX from $40.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. JPMorgan Chase & Co. raised shares of IMAX from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $32.00 to $47.00 in a research note on Monday, December 15th. Roth Mkm reiterated a “buy” rating and set a $42.00 target price on shares of IMAX in a report on Monday, December 8th. Wedbush boosted their price target on shares of IMAX from $39.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, December 8th. Finally, Wall Street Zen raised IMAX from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.70.

Insiders Place Their Bets

In related news, EVP Giovanni M. Dolci sold 6,188 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $34.25, for a total transaction of $211,939.00. Following the completion of the sale, the executive vice president owned 33,000 shares in the company, valued at $1,130,250. The trade was a 15.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 23.18% of the stock is currently owned by insiders.

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.