Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Imax from a hold rating to a buy rating and set a $28.00 price objective for the company in a research note on Tuesday, September 25th. Canaccord Genuity lowered their price objective on shares of Imax from $26.00 to $23.00 and set a buy rating for the company in a research note on Friday, October 26th. Wedbush set a $29.00 price objective on shares of Imax and gave the stock a buy rating in a research note on Monday, October 15th. Barrington Research lowered their price objective on shares of Imax to $27.00 and set an outperform rating for the company in a research note on Monday, October 29th. Finally, ValuEngine downgraded shares of Imax from a hold rating to a sell rating in a research note on Thursday, November 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $26.72.
NYSE IMAX traded down $0.18 on Friday, hitting $18.53. The stock had a trading volume of 564,073 shares, compared to its average volume of 597,374. Imax has a 52-week low of $18.13 and a 52-week high of $26.10. The firm has a market capitalization of $1.17 billion, a P/E ratio of 102.94, a P/E/G ratio of 1.55 and a beta of 1.17.
A number of hedge funds and other institutional investors have recently bought and sold shares of IMAX. Jennison Associates LLC acquired a new position in Imax during the third quarter valued at $61,118,000. Loomis Sayles & Co. L P acquired a new position in Imax during the third quarter valued at $14,199,000. Teachers Advisors LLC lifted its position in Imax by 433.8% during the third quarter. Teachers Advisors LLC now owns 582,705 shares of the company’s stock valued at $15,034,000 after purchasing an additional 473,540 shares during the period. Rice Hall James & Associates LLC acquired a new position in Imax during the third quarter valued at $11,298,000. Finally, Man Group plc lifted its position in Imax by 815.9% during the third quarter. Man Group plc now owns 253,973 shares of the company’s stock valued at $6,553,000 after purchasing an additional 226,244 shares during the period. Institutional investors own 76.52% of the company’s stock.
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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