Imax Corp (NYSE:IMAX) Shares Bought by Lapides Asset Management LLC

Lapides Asset Management LLC boosted its holdings in shares of Imax Corp (NYSE:IMAX) by 28.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,000 shares of the company’s stock after buying an additional 30,800 shares during the period. Lapides Asset Management LLC owned approximately 0.24% of Imax worth $1,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in IMAX. MML Investors Services LLC increased its holdings in shares of Imax by 4.0% in the first quarter. MML Investors Services LLC now owns 30,220 shares of the company’s stock valued at $273,000 after purchasing an additional 1,152 shares during the last quarter. Swiss National Bank increased its stake in Imax by 1.3% during the first quarter. Swiss National Bank now owns 107,000 shares of the company’s stock worth $968,000 after acquiring an additional 1,400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Imax by 35.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,153 shares of the company’s stock worth $65,000 after acquiring an additional 1,860 shares during the last quarter. Rhumbline Advisers increased its stake in Imax by 2.9% during the first quarter. Rhumbline Advisers now owns 73,213 shares of the company’s stock worth $663,000 after acquiring an additional 2,079 shares during the last quarter. Finally, Tudor Investment Corp Et Al increased its stake in Imax by 10.2% during the first quarter. Tudor Investment Corp Et Al now owns 25,523 shares of the company’s stock worth $231,000 after acquiring an additional 2,362 shares during the last quarter. 73.58% of the stock is currently owned by institutional investors.

Several research firms have issued reports on IMAX. Canaccord Genuity reissued a “buy” rating and set a $14.50 target price (down previously from $16.00) on shares of Imax in a research note on Wednesday. Goldman Sachs Group initiated coverage on Imax in a research note on Wednesday, July 15th. They issued a “buy” rating and a $14.00 price objective for the company. MKM Partners decreased their target price on Imax from $20.00 to $18.00 and set a “buy” rating for the company in a report on Monday, July 13th. Barrington Research reiterated a “buy” rating and issued a $15.00 target price on shares of Imax in a report on Wednesday. Finally, reaffirmed a “sell” rating on shares of Imax in a report on Tuesday, June 9th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. Imax has an average rating of “Hold” and a consensus price target of $15.06.

NYSE IMAX traded down $0.35 on Friday, hitting $11.29. 780,998 shares of the company’s stock were exchanged, compared to its average volume of 1,096,935. The firm’s 50-day moving average price is $11.95 and its two-hundred day moving average price is $13.28. Imax Corp has a fifty-two week low of $6.01 and a fifty-two week high of $22.88. The firm has a market cap of $664.50 million, a price-to-earnings ratio of -13.77 and a beta of 1.51.

Imax (NYSE:IMAX) last released its earnings results on Tuesday, July 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.52) by $0.08. The company had revenue of $8.90 million for the quarter, compared to analysts’ expectations of $9.22 million. Imax had a negative return on equity of 6.88% and a negative net margin of 18.91%. The firm’s quarterly revenue was down 91.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 EPS. As a group, equities analysts expect that Imax Corp will post -1.48 EPS for the current year.

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, 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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