Calamos Advisors LLC decreased its stake in Imax Corp. (NYSE:IMAX) by 8.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,125,559 shares of the company’s stock after selling 97,726 shares during the period. Calamos Advisors LLC’s holdings in Imax Corp. were worth $33,181,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Pacad Investment Ltd. acquired a new position in Imax Corp. during the first quarter valued at $255,000. Gerber Kawasaki Wealth & Investment Management raised its position in Imax Corp. by 6.9% in the first quarter. Gerber Kawasaki Wealth & Investment Management now owns 194,127 shares of the company’s stock valued at $6,035,000 after buying an additional 12,462 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in Imax Corp. by 93.9% in the first quarter. TIAA CREF Investment Management LLC now owns 1,206,057 shares of the company’s stock valued at $37,496,000 after buying an additional 583,957 shares in the last quarter. Teachers Advisors Inc. raised its position in Imax Corp. by 78.3% in the first quarter. Teachers Advisors Inc. now owns 750,594 shares of the company’s stock valued at $23,336,000 after buying an additional 329,595 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new position in Imax Corp. during the first quarter valued at $426,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.
Shares of Imax Corp. (NYSE:IMAX) traded down 0.61% during trading on Wednesday, reaching $29.40. The company’s stock had a trading volume of 1,372,352 shares. The firm has a market cap of $1.97 billion, a PE ratio of 42.42 and a beta of 1.62. Imax Corp. has a 12 month low of $25.52 and a 12 month high of $40.36. The stock’s 50 day moving average price is $30.12 and its 200-day moving average price is $30.98.
Imax Corp. (NYSE:IMAX) last posted its earnings results on Wednesday, July 20th. The company reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. Imax Corp. had a net margin of 12.47% and a return on equity of 7.66%. The firm had revenue of $91.70 million for the quarter, compared to analysts’ expectations of $91.30 million. During the same quarter last year, the firm earned $0.40 EPS. The company’s quarterly revenue was down 14.5% compared to the same quarter last year. Equities analysts predict that Imax Corp. will post $0.89 EPS for the current year.
Several research analysts have weighed in on IMAX shares. B. Riley reiterated a “buy” rating and set a $40.00 target price (down from $45.00) on shares of Imax Corp. in a report on Tuesday, June 7th. Stifel Nicolaus reiterated a “buy” rating and set a $45.00 target price on shares of Imax Corp. in a report on Monday, June 13th. Zacks Investment Research lowered Imax Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, June 21st. Benchmark Co. reiterated a “buy” rating on shares of Imax Corp. in a report on Wednesday, June 22nd. Finally, Credit Suisse Group AG reiterated a “buy” rating on shares of Imax Corp. in a report on Wednesday, June 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $40.56.
In other news, CEO Richard L. Gelfond sold 7,741 shares of the firm’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $30.83, for a total transaction of $238,655.03. Following the completion of the sale, the chief executive officer now owns 102,470 shares in the company, valued at approximately $3,159,150.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 5.80% of the company’s stock.
About Imax Corp.
IMAX Corporation is an entertainment technology company. The Company operates through seven segments: the IMAX systems, the theater system maintenance, the 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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