Imax Corp. (IMAX) Stake Maintained by Eaton Vance Management
Eaton Vance Management continued to hold its position in shares of Imax Corp. (NYSE:IMAX) during the second quarter, Holdings Channel reports. The institutional investor owned 13,812 shares of the company’s stock at the end of the second quarter. Eaton Vance Management’s holdings in Imax Corp. were worth $407,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of IMAX. BlackRock Inc. raised its stake in 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 in the last quarter. Seven Eight Capital LLC raised its stake in Imax Corp. by 8.3% in the first quarter. Seven Eight Capital LLC now owns 7,800 shares of the company’s stock worth $243,000 after buying an additional 600 shares in the last quarter. Bank of Montreal Can purchased a new stake in Imax Corp. during the second quarter worth $244,000. Pacad Investment Ltd. purchased a new stake in Imax Corp. during the first quarter worth $255,000. Finally, Emerald Mutual Fund Advisers Trust raised its stake in Imax Corp. by 2.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 8,757 shares of the company’s stock worth $258,000 after buying an additional 214 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.
Imax Corp. (NYSE:IMAX) traded up 0.66% during midday trading on Friday, hitting $28.97. 1,326,661 shares of the stock traded hands. Imax Corp. has a 12 month low of $25.52 and a 12 month high of $40.36. The company’s 50 day moving average price is $29.96 and its 200 day moving average price is $30.94. The firm has a market cap of $1.94 billion, a PE ratio of 41.80 and a beta of 1.62.
Imax Corp. (NYSE:IMAX) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.18 earnings per share 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 company had revenue of $91.70 million for the quarter, compared to the consensus estimate of $91.30 million. During the same quarter in the prior year, the company earned $0.40 EPS. Imax Corp.’s quarterly revenue was down 14.5% on a year-over-year basis. Equities research analysts predict that Imax Corp. will post $0.89 earnings per share for the current fiscal year.
A number of brokerages have recently issued reports on IMAX. Wedbush reaffirmed an “outperform” rating and set a $41.50 price target on shares of Imax Corp. in a report on Wednesday, September 21st. Zacks Investment Research downgraded shares of Imax Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, September 20th. Macquarie dropped their price target on shares of Imax Corp. from $42.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, September 14th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $45.00 price target (up previously from $40.00) on shares of Imax Corp. in a report on Sunday, July 24th. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Imax Corp. in a report on Wednesday, June 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $40.56.
In related news, CEO Richard L. Gelfond sold 7,741 shares of the stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $30.83, for a total value of $238,655.03. Following the transaction, 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 filing with the SEC, which is available through this link. 5.80% of the stock is currently owned by corporate insiders.
Imax Corp. Company Profile
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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