Trillium Asset Management LLC Buys 3,355 Shares of Imax Corporation (IMAX)
Trillium Asset Management LLC increased its position in Imax Corporation (NYSE:IMAX) by 5.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,115 shares of the company’s stock after buying an additional 3,355 shares during the period. Trillium Asset Management LLC’s holdings in Imax Corporation were worth $1,411,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Sei Investments Co. raised its position in Imax Corporation by 25.0% in the first quarter. Sei Investments Co. now owns 206,850 shares of the company’s stock worth $7,033,000 after buying an additional 41,414 shares during the period. Two Sigma Securities LLC bought a new position in Imax Corporation during the first quarter worth approximately $331,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake 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 worth $156,000 after buying an additional 2,546 shares in the last quarter. Paloma Partners Management Co acquired a new stake in shares of Imax Corporation during the first quarter worth $1,504,000. Finally, Bank of New York Mellon Corp increased its stake 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 worth $32,083,000 after buying an additional 175,539 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.
Shares of Imax Corporation (NYSE:IMAX) opened at 18.55 on Wednesday. Imax Corporation has a 12-month low of $18.40 and a 12-month high of $35.30. The company’s 50 day moving average price is $21.15 and its 200 day moving average price is $27.94. The firm has a market cap of $1.20 billion, a P/E ratio of 125.34 and a beta of 0.90.
Imax Corporation (NYSE:IMAX) last released its earnings results on Wednesday, July 26th. The company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.17. The business had revenue of $87.76 million for the quarter, compared to analysts’ expectations of $89.26 million. Imax Corporation had a return on equity of 2.39% and a net margin of 2.81%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 earnings per share. Equities research analysts forecast that Imax Corporation will post $0.62 EPS for the current year.
Imax Corporation announced that its board has initiated a stock repurchase plan on Monday, June 12th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to repurchase up to 12.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
IMAX has been the topic of a number of research analyst reports. B. Riley reaffirmed a “buy” rating and issued a $43.50 target price on shares of Imax Corporation in a report on Monday, June 12th. Canaccord Genuity set a $33.00 target price on Imax Corporation and gave the company a “buy” rating in a report on Thursday, June 8th. MKM Partners reaffirmed a “buy” rating and issued a $40.00 target price on shares of Imax Corporation in a report on Tuesday, April 25th. Roth Capital set a $37.00 target price on Imax Corporation and gave the company a “buy” rating in a report on Thursday, April 20th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating on shares of Imax Corporation in a report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. Imax Corporation has a consensus rating of “Hold” and an average target price of $34.82.
In other Imax Corporation news, CFO Patrick Mcclymont sold 1,760 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $20.50, for a total transaction of $36,080.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric A. Demirian sold 2,670 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $25.10, for a total transaction 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 owned by corporate insiders.
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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