IMAX Co. (NYSE:IMAX – Get Free Report) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 3,050,000 shares, an increase of 7.8% from the October 15th total of 2,830,000 shares. Currently, 6.9% of the shares of the stock are short sold. Based on an average daily volume of 538,100 shares, the short-interest ratio is presently 5.7 days.
IMAX Stock Performance
Shares of NYSE:IMAX traded up $0.15 during midday trading on Friday, reaching $17.07. The company’s stock had a trading volume of 673,994 shares, compared to its average volume of 567,491. IMAX has a fifty-two week low of $13.50 and a fifty-two week high of $21.82. The firm has a 50 day moving average price of $18.40 and a two-hundred day moving average price of $18.35. The firm has a market capitalization of $932.19 million, a price-to-earnings ratio of 36.78, a PEG ratio of 1.38 and a beta of 1.28.
IMAX (NYSE:IMAX – Get Free Report) last issued its quarterly earnings results on Wednesday, October 25th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.15. The firm had revenue of $103.90 million for the quarter, compared to analyst estimates of $97.16 million. IMAX had a return on equity of 9.21% and a net margin of 6.57%. As a group, research analysts anticipate that IMAX will post 0.62 earnings per share for the current year.
Analyst Upgrades and Downgrades
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of IMAX. GTS Securities LLC acquired a new position in IMAX during the 3rd quarter worth approximately $1,092,000. Spouting Rock Asset Management LLC raised its position in shares of IMAX by 31.0% during the third quarter. Spouting Rock Asset Management LLC now owns 32,351 shares of the company’s stock worth $625,000 after purchasing an additional 7,654 shares during the period. Legal & General Group Plc lifted its holdings in shares of IMAX by 4.8% in the 3rd quarter. Legal & General Group Plc now owns 47,131 shares of the company’s stock worth $911,000 after purchasing an additional 2,159 shares in the last quarter. AQR Capital Management LLC grew its position in IMAX by 411.0% in the 3rd quarter. AQR Capital Management LLC now owns 66,343 shares of the company’s stock valued at $1,282,000 after purchasing an additional 53,359 shares during the period. Finally, Quadrature Capital Ltd increased its stake in IMAX by 71.4% during the 3rd quarter. Quadrature Capital Ltd now owns 55,397 shares of the company’s stock valued at $1,071,000 after purchasing an additional 23,075 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.
IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates through three segments: IMAX Technology Network; IMAX Technology Sales and Maintenance; and Film Distribution and Post-Production. 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.
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