Massachusetts Financial Services Co. MA Buys 82,683 Shares of Imax Corp (IMAX)

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Massachusetts Financial Services Co. MA grew its stake in shares of Imax Corp (NYSE:IMAX) by 17.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 552,657 shares of the company’s stock after acquiring an additional 82,683 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Imax were worth $14,259,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Imax by 8.2% during the second quarter. BlackRock Inc. now owns 2,862,906 shares of the company’s stock worth $63,414,000 after purchasing an additional 215,910 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in shares of Imax during the second quarter worth $430,000. Wells Fargo & Company MN boosted its holdings in shares of Imax by 125.9% during the second quarter. Wells Fargo & Company MN now owns 333,875 shares of the company’s stock worth $7,396,000 after purchasing an additional 186,071 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Imax during the second quarter worth $430,000. Finally, B. Riley Financial Inc. acquired a new stake in shares of Imax during the second quarter worth $242,000. 83.89% of the stock is owned by institutional investors.

A number of brokerages recently weighed in on IMAX. ValuEngine cut Imax from a “hold” rating to a “sell” rating in a report on Thursday, July 26th. Wedbush set a $32.00 target price on Imax and gave the company a “buy” rating in a report on Thursday, July 26th. Zacks Investment Research cut Imax from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 24th. Barrington Research reduced their target price on Imax to $27.00 and set an “outperform” rating on the stock in a report on Monday, October 29th. Finally, Canaccord Genuity reduced their target price on Imax from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, October 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $26.72.

In other Imax news, insider Robert D. Lister sold 15,000 shares of the business’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $22.67, for a total transaction of $340,050.00. Following the transaction, the insider now owns 51,247 shares in the company, valued at $1,161,769.49. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Greg Foster sold 9,415 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $23.46, for a total value of $220,875.90. Following the transaction, the chief executive officer now owns 86,960 shares in the company, valued at approximately $2,040,081.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,330 shares of company stock worth $604,301. 18.70% of the stock is currently owned by insiders.

Shares of Imax stock opened at $19.95 on Wednesday. Imax Corp has a twelve month low of $18.85 and a twelve month high of $26.70. The firm has a market capitalization of $1.24 billion, a P/E ratio of 110.83, a PEG ratio of 1.64 and a beta of 1.20.

Imax (NYSE:IMAX) last issued its quarterly earnings data on Thursday, October 25th. The company reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.10. The company had revenue of $82.11 million for the quarter, compared to analysts’ expectations of $80.26 million. Imax had a return on equity of 6.87% and a net margin of 6.64%. Equities analysts forecast that Imax Corp will post 0.64 EPS for the current fiscal year.

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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.

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Institutional Ownership by Quarter for Imax (NYSE:IMAX)

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