Victory Capital Management Inc. Decreases Holdings in IMAX Co. (NYSE:IMAX)

Victory Capital Management Inc. trimmed its stake in shares of IMAX Co. (NYSE:IMAX) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,391,984 shares of the company’s stock after selling 28,608 shares during the period. Victory Capital Management Inc.’s holdings in IMAX were worth $35,635,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mizuho Markets Americas LLC lifted its stake in shares of IMAX by 47.5% in the third quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company’s stock worth $7,952,000 after buying an additional 124,811 shares in the last quarter. Principal Financial Group Inc. increased its position in IMAX by 69.3% during the fourth quarter. Principal Financial Group Inc. now owns 103,946 shares of the company’s stock worth $2,661,000 after purchasing an additional 42,562 shares during the last quarter. Royce & Associates LP increased its position in IMAX by 3.1% during the third quarter. Royce & Associates LP now owns 1,822,616 shares of the company’s stock worth $37,382,000 after purchasing an additional 54,850 shares during the last quarter. Savant Capital LLC acquired a new stake in IMAX during the fourth quarter worth about $249,000. Finally, Quantbot Technologies LP acquired a new stake in IMAX during the third quarter worth about $777,000. 93.51% of the stock is owned by hedge funds and other institutional investors.

IMAX Stock Performance

Shares of IMAX stock opened at $25.27 on Monday. The stock has a market capitalization of $1.34 billion, a P/E ratio of 51.58, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. The company has a 50 day moving average price of $24.73 and a 200 day moving average price of $23.40. IMAX Co. has a fifty-two week low of $14.94 and a fifty-two week high of $27.77.

IMAX (NYSE:IMAX) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). The business had revenue of $92.67 million during the quarter, compared to analyst estimates of $104.08 million. IMAX had a net margin of 7.40% and a return on equity of 8.60%. On average, research analysts forecast that IMAX Co. will post 0.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IMAX. Benchmark restated a “buy” rating and set a $30.00 price objective on shares of IMAX in a research report on Thursday, February 20th. StockNews.com upgraded shares of IMAX from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. lifted their price target on shares of IMAX from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. Macquarie lifted their price target on shares of IMAX from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, Rosenblatt Securities lifted their price target on shares of IMAX from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, IMAX currently has a consensus rating of “Buy” and a consensus target price of $30.67.

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.