GW&K Investment Management LLC Sells 5,675 Shares of IMAX Co. (NYSE:IMAX)

GW&K Investment Management LLC trimmed its holdings in shares of IMAX Co. (NYSE:IMAX) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,085 shares of the company’s stock after selling 5,675 shares during the period. GW&K Investment Management LLC owned about 0.28% of IMAX worth $2,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Partnership Wealth Management LLC purchased a new stake in IMAX during the fourth quarter valued at approximately $111,000. C M Bidwell & Associates Ltd. acquired a new position in shares of IMAX during the third quarter valued at about $160,000. Fox Run Management L.L.C. purchased a new position in shares of IMAX in the 3rd quarter valued at approximately $198,000. SG Americas Securities LLC boosted its stake in IMAX by 65.5% in the 4th quarter. SG Americas Securities LLC now owns 11,868 shares of the company’s stock worth $178,000 after purchasing an additional 4,699 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in IMAX by 41.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,531 shares of the company’s stock worth $242,000 after purchasing an additional 3,682 shares during the last quarter. Institutional investors own 93.51% of the company’s stock.

Insider Activity at IMAX

In related news, EVP Calamera Pablo sold 6,130 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $17.05, for a total value of $104,516.50. Following the sale, the executive vice president now owns 42,269 shares of the company’s stock, valued at approximately $720,686.45. The transaction was disclosed in a filing with the SEC, which is available through this link. In other IMAX news, VP Robert D. Lister sold 25,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $16.87, for a total transaction of $421,750.00. Following the transaction, the vice president now owns 138,889 shares of the company’s stock, valued at approximately $2,343,057.43. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Calamera Pablo sold 6,130 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $17.05, for a total value of $104,516.50. Following the completion of the sale, the executive vice president now directly owns 42,269 shares in the company, valued at $720,686.45. The disclosure for this sale can be found here. 24.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut their target price on IMAX from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. Rosenblatt Securities decreased their target price on IMAX from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, February 13th. StockNews.com cut shares of IMAX from a “buy” rating to a “hold” rating in a research note on Saturday, January 27th. Benchmark reaffirmed a “buy” rating and set a $22.00 target price on shares of IMAX in a report on Friday, April 26th. Finally, Barrington Research restated an “outperform” rating and issued a $24.00 price target on shares of IMAX in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.57.

IMAX Price Performance

IMAX stock opened at $16.58 on Thursday. The firm has a 50 day simple moving average of $16.60 and a 200-day simple moving average of $15.90. IMAX Co. has a 1-year low of $13.20 and a 1-year high of $20.70. The stock has a market cap of $872.44 million, a price-to-earnings ratio of 34.54, a price-to-earnings-growth ratio of 1.37 and a beta of 1.22.

IMAX (NYSE:IMAX) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. The business had revenue of $79.12 million for the quarter, compared to analysts’ expectations of $77.88 million. IMAX had a return on equity of 9.47% and a net margin of 7.13%. Equities analysts expect that IMAX Co. will post 0.61 earnings per share for the current fiscal year.

About IMAX

IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates in two segments, Content Solutions and Technology Products and Services. The company offers IMAX DMR, a proprietary technology that digitally remasters films and other content into IMAX formats for distribution to the IMAX network; IMAX Enhanced that provides end-to-end technology across streaming content and entertainment devices at home; and SSIMWAVE, an AI-driven video quality solutions for media and entertainment companies.