Mission Wealth Management LP Has $789,000 Position in IMAX Corporation $IMAX

Mission Wealth Management LP lessened its stake in shares of IMAX Corporation (NYSE:IMAX) by 7.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,213 shares of the company’s stock after selling 2,195 shares during the period. Mission Wealth Management LP owned 0.05% of IMAX worth $789,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ridgewood Investments LLC bought a new position in shares of IMAX during the 2nd quarter worth about $62,000. Y Intercept Hong Kong Ltd acquired a new position in IMAX during the 1st quarter worth approximately $202,000. Fox Run Management L.L.C. acquired a new position in IMAX during the 1st quarter worth approximately $289,000. Neuberger Berman Group LLC raised its stake in IMAX by 4.1% during the 1st quarter. Neuberger Berman Group LLC now owns 13,838 shares of the company’s stock worth $365,000 after buying an additional 542 shares during the period. Finally, US Bancorp DE increased its holdings in shares of IMAX by 33.1% during the first quarter. US Bancorp DE now owns 16,338 shares of the company’s stock valued at $431,000 after acquiring an additional 4,062 shares in the last quarter. 93.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, VP Robert D. Lister sold 20,000 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $32.80, for a total transaction of $656,000.00. Following the completion of the transaction, the vice president owned 161,421 shares in the company, valued at approximately $5,294,608.80. This represents a 11.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kenneth Ian Weissman sold 15,072 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $25.65, for a total transaction of $386,596.80. Following the transaction, the insider owned 26,133 shares of the company’s stock, valued at approximately $670,311.45. The trade was a 36.58% decrease in their position. The SEC filing for this sale provides additional information. 23.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on IMAX. Wall Street Zen upgraded IMAX from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Rosenblatt Securities restated a “buy” rating and set a $42.00 price target on shares of IMAX in a research note on Friday, October 24th. Barrington Research reissued an “outperform” rating and set a $37.00 target price on shares of IMAX in a research report on Thursday, October 23rd. JPMorgan Chase & Co. boosted their target price on shares of IMAX from $31.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Finally, B. Riley reissued a “buy” rating on shares of IMAX in a research report on Friday, October 10th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.67.

IMAX Stock Performance

Shares of IMAX stock opened at $32.57 on Tuesday. IMAX Corporation has a 52-week low of $20.48 and a 52-week high of $34.14. The company has a 50-day simple moving average of $31.64 and a two-hundred day simple moving average of $28.37. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 45.87, a PEG ratio of 2.05 and a beta of 0.62.

IMAX (NYSE:IMAX) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. The business had revenue of $106.65 million during the quarter, compared to the consensus estimate of $102.88 million. IMAX had a net margin of 10.47% and a return on equity of 9.91%. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 EPS. On average, sell-side analysts forecast that IMAX Corporation will post 0.91 EPS for the current fiscal year.

IMAX Company Profile

IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates in two segments, Content Solutions and Technology Products and Services. The company offers IMAX DMR, a proprietary technology that digitally remasters films and other content into IMAX formats for distribution to the IMAX network; IMAX Enhanced that provides end-to-end technology across streaming content and entertainment devices at home; and SSIMWAVE, an AI-driven video quality solutions for media and entertainment companies.