Shapiro Capital Management LLC Has $96.87 Million Stake in Imax Corp (IMAX)

Shapiro Capital Management LLC grew its position in Imax Corp (NYSE:IMAX) by 6.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,150,005 shares of the company’s stock after acquiring an additional 330,598 shares during the period. Imax comprises about 2.7% of Shapiro Capital Management LLC’s portfolio, making the stock its 18th largest holding. Shapiro Capital Management LLC owned 8.23% of Imax worth $96,872,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in IMAX. Jennison Associates LLC bought a new position in shares of Imax in the 3rd quarter valued at about $61,118,000. Loomis Sayles & Co. L P bought a new position in shares of Imax in the 3rd quarter valued at about $14,199,000. Teachers Advisors LLC grew its position in shares of Imax by 433.8% in the 3rd 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 grew its position in shares of Imax by 203.2% in the 4th 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. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Imax by 55.7% in the 4th 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. 76.44% of the stock is owned by institutional investors.

Shares of IMAX stock opened at $23.13 on Friday. The stock has a market cap of $1.42 billion, a P/E ratio of 41.30, a P/E/G ratio of 1.50 and a beta of 1.07. Imax Corp has a 52 week low of $17.55 and a 52 week high of $26.10.

Imax (NYSE:IMAX) last announced its earnings results on Tuesday, February 26th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. The business had revenue of $109.00 million during the quarter, compared to the consensus estimate of $101.42 million. Imax had a net margin of 6.10% and a return on equity of 6.44%. Imax’s revenue was down 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 EPS. On average, analysts forecast that Imax Corp will post 0.82 earnings per share for the current fiscal year.

A number of research analysts have recently commented on the stock. ValuEngine raised shares of Imax from a “sell” rating to a “hold” rating in a research report on Saturday, January 5th. Wedbush reissued an “outperform” rating on shares of Imax in a research report on Wednesday, January 30th. B. Riley set a $34.00 price objective on shares of Imax and gave the company a “buy imax” rating in a research report on Monday, December 24th. Canaccord Genuity downgraded shares of Imax from a “buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a research report on Monday, February 25th. Finally, Zacks Investment Research raised shares of Imax from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a research report on Monday, December 31st. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Imax presently has a consensus rating of “Buy” and an average price target of $26.83.

In other Imax news, CFO Patrick Mcclymont sold 8,596 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $22.43, for a total value of $192,808.28. Following the completion of the sale, the chief financial officer now owns 7,564 shares of the company’s stock, valued at approximately $169,660.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jeffrey Vance sold 1,436 shares of the business’s 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 approximately $86,916.25. The disclosure for this sale can be found here. Insiders have sold a total of 123,205 shares of company stock valued at $2,766,929 in the last ninety days. 18.70% of the stock is currently owned by insiders.

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Imax 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, or 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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