Janus Henderson Group PLC Takes Position in Imax Corporation (IMAX)
Janus Henderson Group PLC purchased a new position in shares of Imax Corporation (NYSE:IMAX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 561,751 shares of the company’s stock, valued at approximately $12,359,000. Janus Henderson Group PLC owned 0.87% of Imax Corporation at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Imax Corporation by 13.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,522 shares of the company’s stock worth $181,000 after purchasing an additional 748 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Imax Corporation by 1,151.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,818 shares of the company’s stock worth $150,000 after purchasing an additional 6,273 shares during the period. Seven Eight Capital LP raised its position in shares of Imax Corporation by 1,115.7% during the 2nd quarter. Seven Eight Capital LP now owns 7,294 shares of the company’s stock worth $160,000 after purchasing an additional 6,694 shares during the period. Aperio Group LLC acquired a new stake in shares of Imax Corporation during the 2nd quarter worth approximately $205,000. Finally, M&T Bank Corp acquired a new stake in shares of Imax Corporation during the 2nd quarter worth approximately $230,000. Institutional investors and hedge funds own 83.36% of the company’s stock.
In related news, CFO Patrick Mcclymont sold 1,760 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $20.50, for a total value of $36,080.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Greg Foster sold 9,417 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $19.55, for a total transaction of $184,102.35. Following the completion of the transaction, the chief executive officer now owns 67,018 shares of the company’s stock, valued at approximately $1,310,201.90. The disclosure for this sale can be found here. Insiders own 18.90% of the company’s stock.
Imax Corporation (NYSE:IMAX) opened at 21.30 on Friday. The firm has a market capitalization of $1.38 billion, a PE ratio of 143.92 and a beta of 1.00. Imax Corporation has a 12 month low of $17.58 and a 12 month high of $35.30. The stock’s 50 day moving average price is $21.56 and its 200 day moving average price is $23.98.
Imax Corporation (NYSE:IMAX) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.17. Imax Corporation had a net margin of 2.81% and a return on equity of 2.39%. The firm had revenue of $87.76 million during the quarter, compared to analysts’ expectations of $89.26 million. During the same quarter in the previous year, the company posted $0.18 EPS. Imax Corporation’s revenue was down 4.3% on a year-over-year basis. Equities research analysts expect that Imax Corporation will post $0.57 earnings per share for the current fiscal year.
Several research firms recently commented on IMAX. Credit Suisse Group lowered their target price on Imax Corporation from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, September 28th. Wedbush restated an “outperform” rating and issued a $35.00 target price on shares of Imax Corporation in a research report on Thursday, July 20th. B. Riley set a $35.00 target price on Imax Corporation and gave the company a “buy” rating in a research report on Thursday. BidaskClub upgraded Imax Corporation from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. Finally, MKM Partners lowered their target price on Imax Corporation from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, July 7th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $32.00.
About Imax Corporation
IMAX Corporation is an entertainment technology company. The Company operates through seven segments: IMAX systems; theater system maintenance; joint revenue sharing arrangements; film production and IMAX DMR; film distribution; film post-production, and other. The IMAX systems segment designs, manufactures, sells or leases IMAX theater projection system equipment.
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