Imax Corporation (IMAX) Hits a 52-Week High

Ausiliatrice Cristiano
Agosto 19, 2017

State Street Corp owned about 1.60% of Imax Corporation worth $36,185,000 as of its most recent SEC filing. About 645,594 shares traded. The value of the investment in (IMAX) increased from $68,000 to $94,000 increasing 38.2% quarter over quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Imax Corporation by 78.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,774 shares of the company's stock valued at $156,000 after buying an additional 2,546 shares during the period.

Media headlines about Imax Corporation (NYSE:IMAX) have trended somewhat positive on Friday, according to Accern.

As of quarter end Tower Research Capital LLC (trc) had acquired a total of 226 shares growing its stake by 243.0%. Finally, Paloma Partners Management Co purchased a new position in Imax Corporation during the first quarter valued at $1,504,000.

Hedge funds have recently modified their holdings of the company. Imax Corporation has a 12 month low of $18.12 and a 12 month high of $35.30. The firm has a 50 day moving average of $20.75 and a 200 day moving average of $27.70.

The most current P/E ratio is 122.97 and market cap is 1.18B.

Imax Corporation (NYSE:IMAX) last posted its earnings results on Wednesday, July 26th. The company had revenue of $87.76 million during the quarter, compared to analysts' expectations of $89.26 million. Imax Corporation had a net margin of 2.81% and a return on equity of 2.39%. The firm's quarterly revenue was down 4.3% compared to the same quarter a year ago. During the same quarter in the previous year, the business posted $0.18 earnings per share.

Imax Corporation declared that its board has authorized a share repurchase plan on Monday, June 12th that permits the company to repurchase $200.00 million in shares. This buyback authorization authorizes the company to buy up to 12.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of USA & global copyright and trademark legislation. The original version of this story can be viewed at MKM Partners reaffirmed a "buy" rating and set a $40.00 price target on shares of Imax Corporation in a research note on Tuesday, April 25th. Roth Capital initiated the shares of IMAX in report on Wednesday, July 20 with "Buy" rating. Benchmark downgraded the shares of IMAX in report on Wednesday, June 7 to "Hold" rating. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company's stock. The stock presently has a consensus rating of "Hold" and a consensus target price of $34.82.

In other news, Director Eric A. Demirian sold 2,670 shares of the business's stock in a transaction that occurred on Thursday, June 15th. The total value of its holdings increased 381.5%. Following the completion of the transaction, the director now owns 17,945 shares of the company's stock, valued at $450,419.50. Patrick Mcclymont, CFO & EVP, Finance let go of $36,080 worth of shares at an average price of $20.50 on Wednesday the 9th.

Imax Corporation (IMAX) traded down 2.67% during trading on Friday, hitting $18.25.

IMAX Corporation, launched on January 1, 2002, is an entertainment technology company. The Firm operates through seven divisions: IMAX systems; theater system maintenance; joint revenue sharing arrangements; film production and IMAX DMR; film distribution; film post-production, and other. The Business's principal businesses include the design and manufacture of theater systems (IMAX theater systems) and the sale, lease or contribution of those systems to customers, and the Digital Re-Mastering of films into the IMAX format and the exhibition of those films in the IMAX theater network.

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