Rhumbline Advisers Trims Stake in Imax Corp (IMAX)

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Rhumbline Advisers reduced its stake in shares of Imax Corp (NYSE:IMAX) by 8.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 47,403 shares of the company’s stock after selling 4,100 shares during the period. Rhumbline Advisers owned about 0.08% of Imax worth $1,223,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in IMAX. Becker Capital Management Inc. lifted its stake in shares of Imax by 0.3% during the 3rd quarter. Becker Capital Management Inc. now owns 1,087,805 shares of the company’s stock valued at $28,065,000 after buying an additional 2,890 shares in the last quarter. Gamco Investors INC. ET AL lifted its stake in shares of Imax by 6.4% during the 2nd quarter. Gamco Investors INC. ET AL now owns 58,500 shares of the company’s stock valued at $1,296,000 after buying an additional 3,500 shares in the last quarter. GSA Capital Partners LLP lifted its stake in shares of Imax by 17.8% during the 2nd quarter. GSA Capital Partners LLP now owns 47,095 shares of the company’s stock valued at $1,043,000 after buying an additional 7,110 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Imax during the 2nd quarter valued at approximately $202,000. Finally, Northern Trust Corp lifted its stake in shares of Imax by 1.6% during the 2nd quarter. Northern Trust Corp now owns 649,056 shares of the company’s stock valued at $14,377,000 after buying an additional 10,460 shares in the last quarter. 76.52% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently commented on IMAX shares. Zacks Investment Research cut shares of Imax from a “buy” rating to a “hold” rating in a research note on Monday, October 1st. Canaccord Genuity dropped their price target on shares of Imax from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, October 26th. Wedbush set a $29.00 price target on shares of Imax and gave the company a “buy” rating in a research note on Monday, October 15th. B. Riley set a $34.00 price target on shares of Imax and gave the company a “buy” rating in a research note on Friday, December 7th. Finally, Barrington Research dropped their price target on shares of Imax to $27.00 and set an “outperform” rating on the stock in a research note on Monday, October 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $26.72.

In related news, insider Robert D. Lister sold 3,558 shares of the 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 transaction, the insider now owns 36,247 shares of the company’s stock, valued at approximately $662,595.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Greg Foster sold 3,567 shares of the stock in a transaction on Monday, December 10th. The shares were sold at an average price of $18.28, for a total transaction of $65,204.76. Following the transaction, the chief executive officer now directly owns 94,641 shares in the company, valued at approximately $1,730,037.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,862 shares of company stock worth $143,755. 18.70% of the stock is owned by insiders.

NYSE IMAX opened at $19.00 on Wednesday. Imax Corp has a 1 year low of $18.00 and a 1 year high of $26.10. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 105.56, a PEG ratio of 1.58 and a beta of 1.17.

Imax (NYSE:IMAX) last posted its quarterly earnings data on Thursday, October 25th. The company reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.10. The firm had revenue of $82.11 million for the quarter, compared to analysts’ expectations of $80.26 million. Imax had a net margin of 6.64% and a return on equity of 6.87%. As a group, equities analysts anticipate that Imax Corp will post 0.64 earnings per share for the current fiscal year.

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Imax 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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