Bank of Montreal Can Acquires 88,371 Shares of Imax Corp (IMAX)
Bank of Montreal Can lifted its holdings in shares of Imax Corp (NYSE:IMAX) by 243.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 124,669 shares of the company’s stock after purchasing an additional 88,371 shares during the period. Bank of Montreal Can’s holdings in Imax were worth $2,345,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Jennison Associates LLC acquired a new position in shares of Imax during the third quarter worth $61,118,000. Dimensional Fund Advisors LP lifted its holdings in shares of Imax by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,633,826 shares of the company’s stock worth $42,153,000 after purchasing an additional 11,665 shares during the period. Becker Capital Management Inc. lifted its holdings in shares of Imax by 0.3% during the third quarter. Becker Capital Management Inc. now owns 1,087,805 shares of the company’s stock worth $28,065,000 after purchasing an additional 2,890 shares during the period. Northern Trust Corp lifted its holdings in shares of Imax by 1.6% during the second quarter. Northern Trust Corp now owns 649,056 shares of the company’s stock worth $14,377,000 after purchasing an additional 10,460 shares during the period. Finally, Teachers Advisors LLC lifted its holdings in shares of Imax by 433.8% during the third quarter. Teachers Advisors LLC now owns 582,705 shares of the company’s stock worth $15,034,000 after purchasing an additional 473,540 shares during the period. Institutional investors own 76.85% of the company’s stock.
In other Imax news, CEO Greg Foster sold 3,567 shares of Imax stock in a transaction on Monday, December 10th. The shares were sold at an average price of $18.28, for a total value of $65,204.76. Following the completion of the sale, the chief executive officer now directly owns 94,641 shares of the company’s stock, valued at $1,730,037.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Robert D. Lister sold 3,558 shares of Imax stock in a transaction on Monday, December 10th. The shares were sold at an average price of $18.28, for a total transaction of $65,040.24. Following the completion of the sale, the insider now directly owns 36,247 shares of the company’s stock, valued at $662,595.16. The disclosure for this sale can be found here. Insiders have sold 7,862 shares of company stock valued at $143,755 in the last three months. 18.70% of the stock is owned by insiders.
IMAX has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Imax from a “hold” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a report on Monday, December 31st. Canaccord Genuity cut their price target on shares of Imax from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Wedbush set a $29.00 price target on shares of Imax and gave the stock a “buy” rating in a report on Monday, October 15th. B. Riley set a $34.00 price target on shares of Imax and gave the stock a “buy imax” rating in a report on Monday, December 24th. Finally, Barrington Research cut their price target on shares of Imax to $27.00 and set an “outperform” rating on the stock in a report on Monday, October 29th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $26.56.
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IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company that specializes in motion picture technologies and presentations worldwide. It offers cinematic solution comprising proprietary software, theater architecture, and equipment. The company engages in Digital Re-Mastering (DMR) of films into the IMAX format for exhibition in the IMAX theater network; the provision of IMAX premium theater systems to exhibitor customers through sales, long-term leases, or joint revenue sharing arrangements; the distribution of documentary films; the provision of production technical support and film post-production services; the ownership and operation of IMAX theaters; and the provision of camera and other miscellaneous items rental services.
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