Imax Corp. (IMAX) is Gerber Kawasaki Wealth & Investment Management’s 10th Largest Position
Gerber Kawasaki Wealth & Investment Management cut its position in Imax Corp. (NYSE:IMAX) by 11.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 171,932 shares of the company’s stock after selling 22,195 shares during the period. Imax Corp. comprises approximately 3.2% of Gerber Kawasaki Wealth & Investment Management’s portfolio, making the stock its 10th largest position. Gerber Kawasaki Wealth & Investment Management’s holdings in Imax Corp. were worth $5,068,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Primecap Management Co. CA purchased a new stake in shares of Imax Corp. during the first quarter valued at about $10,346,000. Nuveen Asset Management LLC increased its position in Imax Corp. by 45.7% in the first quarter. Nuveen Asset Management LLC now owns 238,861 shares of the company’s stock valued at $7,426,000 after buying an additional 74,958 shares in the last quarter. State Street Corp increased its position in Imax Corp. by 3.6% in the first quarter. State Street Corp now owns 1,004,997 shares of the company’s stock valued at $31,247,000 after buying an additional 34,468 shares in the last quarter. IBIS Capital Partners LLP increased its position in Imax Corp. by 5.8% in the first quarter. IBIS Capital Partners LLP now owns 563,476 shares of the company’s stock valued at $17,518,000 after buying an additional 31,005 shares in the last quarter. Finally, MSI Financial Services Inc increased its position in Imax Corp. by 517.0% in the second quarter. MSI Financial Services Inc now owns 29,703 shares of the company’s stock valued at $876,000 after buying an additional 24,889 shares in the last quarter. 79.80% of the stock is currently owned by institutional investors.
Shares of Imax Corp. (NYSE:IMAX) traded down 1.43% during midday trading on Monday, hitting $29.74. The company had a trading volume of 2,190,300 shares. Imax Corp. has a 12 month low of $25.52 and a 12 month high of $40.36. The firm has a market capitalization of $2.00 billion, a PE ratio of 42.91 and a beta of 1.55. The company has a 50-day moving average of $29.48 and a 200 day moving average of $30.78.
Imax Corp. (NYSE:IMAX) last posted its earnings results on Wednesday, July 20th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The company earned $91.70 million during the quarter, compared to analysts’ expectations of $91.30 million. Imax Corp. had a return on equity of 7.66% and a net margin of 12.47%. The firm’s quarterly revenue was down 14.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 earnings per share. On average, analysts expect that Imax Corp. will post $0.89 EPS for the current fiscal year.
IMAX has been the topic of several analyst reports. Wedbush reissued an “outperform” rating and set a $41.50 target price on shares of Imax Corp. in a research report on Wednesday, September 21st. Zacks Investment Research downgraded Imax Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, September 20th. Macquarie cut their target price on Imax Corp. from $42.00 to $41.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 14th. Piper Jaffray Cos. reissued an “overweight” rating and set a $45.00 target price (up previously from $40.00) on shares of Imax Corp. in a research report on Sunday, July 24th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Imax Corp. in a research report on Wednesday, June 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Imax Corp. presently has a consensus rating of “Buy” and a consensus target price of $40.56.
In other Imax Corp. news, CEO Richard L. Gelfond sold 7,741 shares of the firm’s stock in a transaction on Friday, September 2nd. The stock was 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 owns 102,470 shares of the company’s stock, valued at $3,159,150.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 5.80% of the company’s stock.
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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