14,939 Shares in IMAX Corporation $IMAX Bought by Severin Investments LLC

Severin Investments LLC acquired a new stake in shares of IMAX Corporation (NYSE:IMAX) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 14,939 shares of the company’s stock, valued at approximately $568,000.

Other large investors have also bought and sold shares of the company. CIBC Private Wealth Group LLC purchased a new stake in shares of IMAX in the third quarter valued at about $27,000. Quarry LP lifted its position in shares of IMAX by 166.8% during the fourth quarter. Quarry LP now owns 875 shares of the company’s stock valued at $32,000 after purchasing an additional 547 shares in the last quarter. Clearstead Advisors LLC purchased a new position in IMAX during the third quarter worth about $35,000. Torren Management LLC bought a new stake in IMAX in the 4th quarter worth about $40,000. Finally, Caitong International Asset Management Co. Ltd grew its position in IMAX by 2,310.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,157 shares of the company’s stock worth $38,000 after purchasing an additional 1,109 shares in the last quarter. 93.51% of the stock is currently owned by institutional investors.

Insider Transactions at IMAX

In other IMAX news, CEO Richard L. Gelfond sold 8,943 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $37.33, for a total value of $333,842.19. Following the completion of the sale, the chief executive officer directly owned 765,002 shares of the company’s stock, valued at $28,557,524.66. This trade represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 365,064 shares of company stock valued at $13,719,850 over the last three months. Company insiders own 20.55% of the company’s stock.

Analyst Upgrades and Downgrades

IMAX has been the topic of several recent analyst reports. Seaport Research Partners reissued a “buy” rating and set a $50.00 target price on shares of IMAX in a research report on Wednesday, June 24th. Wall Street Zen lowered IMAX from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $60.00 price target on shares of IMAX in a research report on Friday, May 22nd. Barrington Research lifted their price target on IMAX from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Finally, Wedbush reissued an “outperform” rating and issued a $46.00 price objective on shares of IMAX in a research report on Thursday, April 23rd. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.00.

IMAX Stock Down 1.6%

IMAX stock opened at $39.84 on Wednesday. The firm has a 50 day moving average price of $38.69 and a 200-day moving average price of $37.81. IMAX Corporation has a twelve month low of $24.20 and a twelve month high of $45.52. The company has a market capitalization of $2.19 billion, a P/E ratio of 61.29, a P/E/G ratio of 1.43 and a beta of 0.37.

IMAX (NYSE:IMAX) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. IMAX had a net margin of 9.08% and a return on equity of 13.61%. The company had revenue of $81.38 million for the quarter, compared to analysts’ expectations of $79.82 million. During the same quarter in the previous year, the firm posted $0.13 EPS. IMAX’s revenue was down 6.1% on a year-over-year basis. Equities analysts expect that IMAX Corporation will post 1.34 EPS for the current fiscal year.

IMAX Company Profile

IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.

Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.