Trexquant Investment LP Acquires Shares of 18,589 Imax Corp (NYSE:IMAX)

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Trexquant Investment LP acquired a new stake in Imax Corp (NYSE:IMAX) during the second quarter, HoldingsChannel.com reports. The fund acquired 18,589 shares of the company’s stock, valued at approximately $375,000.

Other large investors have also recently made changes to their positions in the company. Atria Investments LLC bought a new stake in Imax during the second quarter valued at $320,000. Teza Capital Management LLC bought a new stake in Imax in the 2nd quarter valued at approximately $382,000. Trillium Asset Management LLC lifted its stake in Imax by 13.2% in the 2nd quarter. Trillium Asset Management LLC now owns 83,495 shares of the company’s stock valued at $1,687,000 after acquiring an additional 9,704 shares in the last quarter. Glassman Wealth Services bought a new stake in Imax in the 2nd quarter valued at approximately $34,000. Finally, 361 Capital LLC bought a new stake in Imax in the 2nd quarter valued at approximately $2,321,000. 75.75% of the stock is currently owned by institutional investors.

Several equities research analysts have commented on the company. B. Riley set a $34.00 target price on Imax and gave the company a “buy” rating in a research note on Friday, July 12th. Wedbush restated an “outperform” rating and issued a $28.00 target price on shares of Imax in a research note on Wednesday, July 31st. ValuEngine cut Imax from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research cut Imax from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a research note on Tuesday, July 2nd. Finally, TheStreet cut Imax from a “b-” rating to a “c” rating in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Imax currently has a consensus rating of “Hold” and an average price target of $27.17.

In other Imax news, CFO Patrick Mcclymont sold 1,915 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $21.35, for a total transaction of $40,885.25. Following the transaction, the chief financial officer now owns 16,481 shares of the company’s stock, valued at approximately $351,869.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard L. Gelfond sold 8,384 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $20.74, for a total value of $173,884.16. Following the transaction, the chief executive officer now directly owns 258,392 shares in the company, valued at approximately $5,359,050.08. The disclosure for this sale can be found here. 20.20% of the stock is owned by insiders.

NYSE IMAX traded up $0.11 during trading on Friday, hitting $21.96. The stock had a trading volume of 227,050 shares, compared to its average volume of 212,740. The company has a market capitalization of $1.34 billion, a PE ratio of 39.21, a P/E/G ratio of 1.48 and a beta of 0.97. The company’s 50-day moving average price is $21.10 and its two-hundred day moving average price is $22.01. Imax Corp has a 12 month low of $17.55 and a 12 month high of $26.10.

Imax (NYSE:IMAX) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.10. The firm had revenue of $104.80 million for the quarter, compared to analyst estimates of $98.27 million. Imax had a return on equity of 6.32% and a net margin of 7.01%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.30 EPS. Sell-side analysts expect that Imax Corp will post 0.84 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, and 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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