IMAX Co. (NYSE:IMAX) Short Interest Update

IMAX Co. (NYSE:IMAX) was the target of a large growth in short interest in January. As of January 15th, there was short interest totalling 4,680,000 shares, a growth of 12.8% from the December 31st total of 4,150,000 shares. Approximately 11.1% of the shares of the stock are short sold. Based on an average daily volume of 617,100 shares, the short-interest ratio is currently 7.6 days.

Analyst Ratings Changes

Several brokerages have recently commented on IMAX. StockNews.com upgraded IMAX from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $28.00 price target on shares of IMAX in a report on Thursday, January 16th. Barrington Research restated an “outperform” rating and set a $30.00 target price on shares of IMAX in a report on Friday, January 10th. JPMorgan Chase & Co. increased their price objective on IMAX from $21.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Roth Mkm upped their target price on IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, IMAX currently has a consensus rating of “Buy” and a consensus target price of $28.63.

IMAX Stock Up 2.5 %

IMAX traded up $0.59 during trading on Monday, reaching $24.14. The company’s stock had a trading volume of 658,331 shares, compared to its average volume of 632,187. The firm has a fifty day simple moving average of $24.63 and a two-hundred day simple moving average of $22.41. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 54.86, a PEG ratio of 1.30 and a beta of 1.24. IMAX has a 1 year low of $13.20 and a 1 year high of $26.84.

Insider Buying and Selling

In other IMAX news, EVP Robert D. Lister sold 55,910 shares of IMAX stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.50, for a total value of $1,425,705.00. Following the completion of the sale, the executive vice president now owns 138,889 shares of the company’s stock, valued at approximately $3,541,669.50. This trade represents a 28.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Natasha Fernandes sold 2,957 shares of IMAX stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.52, for a total value of $75,462.64. Following the completion of the sale, the chief financial officer now directly owns 14,883 shares of the company’s stock, valued at $379,814.16. The trade was a 16.58 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,176 shares of company stock valued at $1,662,110. Corporate insiders own 24.08% of the company’s stock.

Institutional Trading of IMAX

A number of hedge funds and other institutional investors have recently made changes to their positions in IMAX. Blue Trust Inc. grew its stake in shares of IMAX by 138.5% in the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after acquiring an additional 561 shares in the last quarter. Huntington National Bank acquired a new stake in IMAX during the third quarter worth approximately $34,000. Quarry LP boosted its holdings in shares of IMAX by 78,333.3% in the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after purchasing an additional 2,350 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of IMAX in the 3rd quarter valued at $70,000. Finally, US Bancorp DE increased its position in shares of IMAX by 23.4% in the 3rd quarter. US Bancorp DE now owns 7,656 shares of the company’s stock worth $157,000 after purchasing an additional 1,452 shares during the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

IMAX Company Profile

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.