Latest Stocks: Imax Corp (IMAX) Stake Lowered by ProShare Advisors LLC

Latest Stocks: Imax Corp (IMAX) Stake Lowered by ProShare Advisors LLC

ProShare Advisors LLC lowered its position in shares of Imax Corp (NYSE:IMAX) by 28.3% during the first quarter, Holdings Channel reports. The institutional investor owned 6,782 shares of the company’s stock after selling 2,683 shares during the period. ProShare Advisors LLC’s holdings in Imax Corp were worth $231,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in IMAX. United Services Automobile Association increased its stake in Imax Corp by 37.3% in the third quarter. United Services Automobile Association now owns 132,819 shares of the company’s stock worth $3,848,000 after buying an additional 36,100 shares in the last quarter. Penn Capital Management Co. Inc. increased its stake in Imax Corp by 8.2% in the third quarter. Penn Capital Management Co. Inc. now owns 227,106 shares of the company’s stock worth $6,579,000 after buying an additional 17,264 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Imax Corp during the fourth quarter worth $1,360,000. Frontier Capital Management Co. LLC increased its stake in Imax Corp by 1.2% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,281,504 shares of the company’s stock worth $71,639,000 after buying an additional 26,506 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in Imax Corp by 0.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 22,008 shares of the company’s stock worth $691,000 after buying an additional 190 shares in the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

Imax Corp (NYSE:IMAX) opened at 25.85 on Tuesday. The company has a 50 day moving average price of $29.07 and a 200-day moving average price of $31.55. The company has a market capitalization of $1.72 billion, a PE ratio of 99.42 and a beta of 1.16. Imax Corp has a one year low of $24.30 and a one year high of $35.30.

Imax Corp (NYSE:IMAX) last posted its earnings results on Thursday, April 20th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.01. Imax Corp had a return on equity of 5.99% and a net margin of 10.86%. The firm had revenue of $68.70 million for the quarter, compared to analysts’ expectations of $71.53 million. During the same period in the previous year, the firm earned $0.22 earnings per share. The business’s revenue was down 25.4% compared to the same quarter last year. Analysts expect that Imax Corp will post $0.90 EPS for the current fiscal year.

A number of equities analysts have issued reports on IMAX shares. Zacks Investment Research cut Imax Corp from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 1st. Wedbush restated an “outperform” rating and set a $41.50 price target on shares of Imax Corp in a report on Friday, February 24th. Barrington Research restated an “outperform” rating and set a $40.00 price target on shares of Imax Corp in a report on Sunday, February 26th. Canaccord Genuity set a $39.00 price target on Imax Corp and gave the stock a “buy” rating in a report on Monday, February 27th. Finally, Roth Capital set a $37.00 price target on Imax Corp and gave the stock a “buy” rating in a report on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $40.10.

In related news, insider Eileen Campbell sold 8,512 shares of the company’s stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $32.26, for a total value of $274,597.12. Following the sale, the insider now directly owns 15,829 shares of the company’s stock, valued at $510,643.54. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Greg Foster sold 100,000 shares of the company’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $33.20, for a total value of $3,320,000.00. Following the completion of the sale, the chief executive officer now directly owns 167,018 shares in the company, valued at $5,544,997.60. The disclosure for this sale can be found here. Insiders have sold 115,097 shares of company stock worth $3,807,029 over the last three months. Insiders own 5.80% of the company’s stock. Imax Corp Company Profile

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Want to see what other hedge funds are holding IMAX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Imax Corp (NYSE:IMAX).

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