Pembroke Management LTD Acquires 80,229 Shares of IMAX Corporation $IMAX

Pembroke Management LTD raised its holdings in shares of IMAX Corporation (NYSE:IMAX) by 18.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 516,622 shares of the company’s stock after purchasing an additional 80,229 shares during the period. IMAX accounts for about 1.7% of Pembroke Management LTD’s portfolio, making the stock its 24th largest position. Pembroke Management LTD owned 0.96% of IMAX worth $16,919,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in IMAX by 10.9% in the second quarter. JPMorgan Chase & Co. now owns 1,029,602 shares of the company’s stock worth $28,788,000 after buying an additional 101,048 shares in the last quarter. Aurora Investment Counsel bought a new stake in IMAX during the 2nd quarter valued at $1,955,000. Harbor Capital Advisors Inc. purchased a new position in shares of IMAX in the 3rd quarter valued at $897,000. RWA Wealth Partners LLC bought a new position in shares of IMAX in the 2nd quarter worth $701,000. Finally, CSM Advisors LLC purchased a new stake in shares of IMAX during the 2nd quarter worth $5,907,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on IMAX shares. Rosenblatt Securities raised their price objective on IMAX from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Monday, December 8th. JPMorgan Chase & Co. upgraded shares of IMAX from a “neutral” rating to an “overweight” rating and raised their price target for the company from $32.00 to $47.00 in a report on Monday, December 15th. The Goldman Sachs Group upgraded shares of IMAX from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $22.00 to $34.00 in a research note on Tuesday, November 25th. B. Riley restated a “buy” rating on shares of IMAX in a research note on Monday, December 8th. Finally, Roth Capital reaffirmed a “buy” rating and set a $42.00 price target on shares of IMAX in a research report on Monday, December 8th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.70.

Insider Activity

In other news, VP Robert D. Lister sold 50,143 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $34.67, for a total value of $1,738,457.81. Following the transaction, the vice president directly owned 161,421 shares of the company’s stock, valued at approximately $5,596,466.07. This represents a 23.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Giovanni M. Dolci sold 6,188 shares of IMAX stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $34.25, for a total value of $211,939.00. Following the sale, the executive vice president directly owned 33,000 shares of the company’s stock, valued at $1,130,250. This trade represents a 15.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 23.18% of the stock is currently owned by insiders.

IMAX Trading Up 3.1%

Shares of IMAX stock opened at $37.44 on Friday. IMAX Corporation has a 12-month low of $20.48 and a 12-month high of $39.98. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 52.73, a PEG ratio of 1.80 and a beta of 0.37. The firm’s 50 day simple moving average is $36.39 and its two-hundred day simple moving average is $31.94.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.31 by $0.16. IMAX had a net margin of 10.47% and a return on equity of 9.91%. The business had revenue of $106.65 million during the quarter, compared to the consensus estimate of $102.88 million. During the same period in the previous year, the firm posted $0.35 earnings per share. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, sell-side analysts predict that IMAX Corporation will post 0.91 EPS for the current fiscal year.

About IMAX

IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.

Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.