Other hedge funds also recently modified their holdings of the company. IL boosted its stake in shares of Imax Corporation by 1.5% in the first quarter. Trillium Asset Management LLC boosted its stake in shares of Imax Corporation by 2.7% in the first quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Imax Corporation by 22.9% in the first quarter.
Doheny Asset Management Ca holds 2.65% of its portfolio in New Senior Investment Group Inc for 558,200 shares. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Imax Corporation by 78.9% in the first quarter.
The company is down since yesterday's close of $19.6.
Imax Corporation (NYSE:IMAX) opened at 19.00 on Friday. Imax Corporation has a 1-year low of $18.90 and a 1-year high of $35.30.
The company's P/E ratio is 129.899 and the market cap of the company is 1.24B. The company has a 50 day moving average of $21.42 and a 200 day moving average of $28.21.
Imax Corporation (NYSE:IMAX) last issued its earnings results on Wednesday, July 26th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.17. The business had revenue of $87.76 million during the quarter, compared to the consensus estimate of $89.26 million. The value of the company's investment in Imax Corporation went from $978,000 to $925,000 a change of 5.4% quarter over quarter. Imax Corporation's revenue for the quarter was down 4.3% compared to the same quarter a year ago. During the same quarter previous year, the firm earned $0.18 earnings per share. Analysts forecast that Imax Corporation will post $0.62 EPS for the current year.
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Imax Corporation declared that its Board of Directors has authorized a stock buyback program on Monday, June 12th that allows the company to buyback $200.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 12.5% of its stock through open market purchases.
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Among 13 analysts covering IMAX (NYSE:IMAX), 9 have Buy rating, 0 Sell and 4 Hold. Roth Capital set a $37.00 target price on shares of Imax Corporation and gave the stock a "buy" rating in a report on Thursday, April 20th. Imax Corporation now has an average rating of "Hold" and a consensus target price of $34.82.
In other news, CFO Patrick Mcclymont sold 1,760 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $20.50, for a total transaction of $36,080.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eric A. Demirian sold 2,670 shares of Imax Corporation stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $25.10, for a total value of $67,017.00. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued. The disclosure for this sale can be found here.
IMAX Corporation, launched on January 1, 2002, is an entertainment technology company. The Firm operates through seven divisions: IMAX systems; theater system maintenance; joint revenue sharing arrangements; film production and IMAX DMR; film distribution; film post-production, and other. The Business's principal businesses include the design and manufacture of theater systems (IMAX theater systems) and the sale, lease or contribution of those systems to customers, and the Digital Re-Mastering of films into the IMAX format and the exhibition of those films in the IMAX theater network.
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