Stone Ridge Asset Management LLC Purchases New Stake in Imax Corp (IMAX)

Stone Ridge Asset Management LLC purchased a new stake in shares of Imax Corp (NYSE:IMAX) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,573 shares of the company’s stock, valued at approximately $218,000.

A number of other institutional investors have also added to or reduced their stakes in IMAX. Loomis Sayles & Co. L P purchased a new stake in shares of Imax in the third quarter valued at $14,199,000. Teachers Advisors LLC raised its stake in shares of Imax by 433.8% in the third quarter. Teachers Advisors LLC now owns 582,705 shares of the company’s stock valued at $15,034,000 after acquiring an additional 473,540 shares during the period. Stifel Financial Corp raised its stake in shares of Imax by 203.2% in the fourth quarter. Stifel Financial Corp now owns 633,011 shares of the company’s stock valued at $11,933,000 after acquiring an additional 424,264 shares during the period. Shapiro Capital Management LLC raised its stake in shares of Imax by 6.9% in the fourth quarter. Shapiro Capital Management LLC now owns 5,150,005 shares of the company’s stock valued at $96,872,000 after acquiring an additional 330,598 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Imax by 55.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 860,605 shares of the company’s stock valued at $16,188,000 after acquiring an additional 307,948 shares during the period. 79.36% of the stock is currently owned by institutional investors.

IMAX has been the topic of several recent analyst reports. Wedbush set a $28.00 target price on shares of Imax and gave the company a “buy” rating in a research note on Monday. MKM Partners increased their target price on shares of Imax to $28.00 and gave the company a “buy” rating in a research note on Friday, April 12th. B. Riley set a $34.00 target price on shares of Imax and gave the company a “buy” rating in a research note on Monday, April 8th. Barrington Research restated a “buy” rating and issued a $27.00 price target on shares of Imax in a report on Wednesday, March 6th. Finally, ValuEngine upgraded shares of Imax from a “sell” rating to a “hold” rating in a report on Saturday, January 5th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $27.00.

In other Imax news, SVP Jeffrey Vance sold 1,436 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $22.43, for a total transaction of $32,209.48. Following the completion of the sale, the senior vice president now directly owns 3,875 shares of the company’s stock, valued at $86,916.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Robert D. Lister sold 44,767 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $22.36, for a total transaction of $1,000,990.12. Following the sale, the vice president now directly owns 39,163 shares of the company’s stock, valued at $875,684.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 123,205 shares of company stock worth $2,766,929. 18.70% of the stock is owned by company insiders.

Imax stock traded up $0.18 during midday trading on Wednesday, hitting $25.03. 836,500 shares of the company’s stock were exchanged, compared to its average volume of 376,387. Imax Corp has a 12 month low of $17.55 and a 12 month high of $26.10. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 44.70, a PEG ratio of 1.65 and a beta of 1.06.

Imax (NYSE:IMAX) last issued its earnings results on Tuesday, February 26th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. Imax had a net margin of 6.10% and a return on equity of 6.44%. The company had revenue of $109.00 million for the quarter, compared to analysts’ expectations of $101.42 million. During the same period in the prior year, the business earned $0.34 EPS. The firm’s quarterly revenue was down 13.2% on a year-over-year basis. Research analysts predict that Imax Corp will post 0.81 earnings per share for the current year.

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Imax Company Profile

IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company that specializes in motion picture technologies and presentations worldwide. It offers cinematic solution comprising proprietary software, theater architecture, and equipment. The company engages in Digital Re-Mastering (DMR) of films into the IMAX format for exhibition in the IMAX theater network; the provision of IMAX premium theater systems to exhibitor customers through sales, long-term leases, and joint revenue sharing arrangements; the distribution of documentary films; the provision of production technical support and film post-production services; the ownership and operation of IMAX theaters; and the provision of camera and other miscellaneous items rental services.

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Institutional Ownership by Quarter for Imax (NYSE:IMAX)

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