Vivaldi Asset Management LLC Invests $13.41 Million in IMAX Co. (IMAX) Stock

Vivaldi Asset Management LLC acquired a new position in shares of IMAX Co. (NYSE:IMAX) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 698,215 shares of the company’s stock, valued at approximately $13,406,000. IMAX comprises about 1.9% of Vivaldi Asset Management LLC’s investment portfolio, making the stock its 16th largest position. Vivaldi Asset Management LLC owned approximately 1.09% of IMAX as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Handelsinvest Investeringsforvaltning grew its position in IMAX by 28.0% during the 4th quarter. Handelsinvest Investeringsforvaltning now owns 150,000 shares of the company’s stock worth $3,473,000 after purchasing an additional 32,800 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in IMAX during the 4th quarter worth $521,000. BlackRock Inc. grew its position in IMAX by 1.2% during the 4th quarter. BlackRock Inc. now owns 2,543,954 shares of the company’s stock worth $58,891,000 after purchasing an additional 31,318 shares during the last quarter. Invictus RG purchased a new position in IMAX during the 4th quarter worth $213,000. Finally, Allianz Asset Management GmbH purchased a new position in IMAX during the 4th quarter worth $1,216,000. 83.74% of the stock is currently owned by institutional investors.

IMAX has been the topic of several research reports. ValuEngine downgraded shares of IMAX from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Wedbush reissued an “outperform” rating and set a $30.00 price objective on shares of IMAX in a research report on Tuesday, February 20th. JPMorgan Chase initiated coverage on shares of IMAX in a research report on Tuesday, February 20th. They set an “overweight” rating and a $28.00 price objective on the stock. B. Riley raised their price objective on shares of IMAX from $35.00 to $37.75 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Finally, Roth Capital reissued a “neutral” rating and set a $22.50 price objective (down from $25.00) on shares of IMAX in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $27.68.

In related news, CFO Patrick Mcclymont sold 2,811 shares of the business’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $20.40, for a total transaction of $57,344.40. Following the sale, the chief financial officer now owns 2,145 shares of the company’s stock, valued at $43,758. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert D. Lister sold 3,518 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $22.95, for a total transaction of $80,738.10. Following the sale, the insider now directly owns 38,540 shares in the company, valued at approximately $884,493. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,131 shares of company stock worth $501,243. Insiders own 18.90% of the company’s stock.

Shares of NYSE:IMAX opened at $24.05 on Wednesday. The stock has a market capitalization of $1.52 billion, a PE ratio of 132.50, a PEG ratio of 1.77 and a beta of 0.83. IMAX Co. has a fifty-two week low of $23.90 and a fifty-two week high of $24.05.

IMAX (NYSE:IMAX) last issued its earnings results on Tuesday, May 1st. The company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.10. The business had revenue of $85.00 million for the quarter, compared to the consensus estimate of $81.64 million. IMAX had a net margin of 2.71% and a return on equity of 5.02%. The business’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 earnings per share. sell-side analysts expect that IMAX Co. will post 0.7 EPS for the current year.

IMAX Company Profile

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.

Institutional Ownership by Quarter for IMAX (NYSE:IMAX)

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