Brown Advisory Inc. Has $2,634,000 Position in Imax Corp. (IMAX)
Brown Advisory Inc. boosted its stake in shares of Imax Corp. (NYSE:IMAX) by 13.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,350 shares of the company’s stock after buying an additional 10,298 shares during the period. Brown Advisory Inc. owned about 0.13% of Imax Corp. worth $2,634,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in IMAX. BlackRock Inc. raised its stake in shares of Imax Corp. by 130.7% in the first quarter. BlackRock Inc. now owns 3,977 shares of the company’s stock worth $123,000 after buying an additional 2,253 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in Imax Corp. by 273.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,621 shares of the company’s stock valued at $206,000 after buying an additional 4,849 shares during the period. Seven Eight Capital LLC increased its position in Imax Corp. by 8.3% in the first quarter. Seven Eight Capital LLC now owns 7,800 shares of the company’s stock valued at $243,000 after buying an additional 600 shares during the period. Pacad Investment Ltd. acquired a new position in Imax Corp. during the first quarter valued at approximately $255,000. Finally, Bank of Montreal Can acquired a new position in Imax Corp. during the second quarter valued at approximately $244,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Imax Corp. (NYSE:IMAX) traded down 0.85% during midday trading on Thursday, hitting $29.22. 180,511 shares of the stock were exchanged. The company has a market cap of $1.96 billion, a PE ratio of 42.16 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 firm has a 50-day moving average price of $30.50 and a 200-day moving average price of $31.06.
Imax Corp. (NYSE:IMAX) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. The business earned $91.70 million during the quarter, compared to analyst estimates of $91.30 million. Imax Corp. had a net margin of 12.47% and a return on equity of 7.66%. The business’s revenue was down 14.5% on a year-over-year basis. During the same period last year, the business earned $0.40 EPS. On average, equities analysts predict that Imax Corp. will post $0.90 EPS for the current year.
Several research firms have commented on IMAX. B. Riley restated a “buy” rating and issued a $40.00 price target on shares of Imax Corp. in a research note on Sunday, June 12th. Zacks Investment Research downgraded shares of Imax Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. Wedbush restated an “outperform” rating and issued a $40.00 price target on shares of Imax Corp. in a research note on Tuesday, July 12th. Finally, Benchmark Co. restated a “buy” rating on shares of Imax Corp. in a research note on Wednesday, June 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $40.56.
In related news, CEO Richard L. Gelfond sold 7,741 shares of the firm’s stock in a transaction 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 directly owns 102,470 shares of the company’s stock, valued at approximately $3,159,150.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate 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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