Foundry Partners LLC buys 58,115 shares of IMAX Co. (NYSE:IMAX)

Foundry Partners LLC raised its position in IMAX Co. (NYSE:IMAX – Free Report) by 46.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 182,200 shares of the company’s stock after acquiring an additional 58,115 shares during the quarter. Foundry Partners LLC owned 0.35% of IMAX worth $3,055,000 at the end of the most recent reporting period.

Several other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its stake in IMAX by 19.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,082 shares of the company’s stock worth $212,000 after buying an additional 2,153 shares during the period. PNC Financial Services Group Inc. purchased a new position in IMAX in the 4th quarter valued at approximately $33,000. Equitable Trust Co. raised its stake in IMAX by 12.3% in the first quarter. Equitable Trust Co. now owns 40,710 shares of the company’s stock worth $658,000 after purchasing an additional 4,455 shares during the period. Summit Securities Group LLC acquired a new position in IMAX in the second quarter valued at about $80,000. Finally, Partnership Wealth Management LLC boosted its stake in shares of IMAX by 63.1% in the 1st quarter. Partnership Wealth Management LLC now owns 12,932 shares of the company’s stock worth $209,000 after purchasing an additional 5,005 shares during the period. Hedge funds and other institutional investors own 93.51% of the company’s shares.

IMAX stock down 3.9%

Shares of IMAX opened at $21.00 on Friday. The company’s 50-day moving average price is $19.43 and its 200-day moving average price is $17.49. IMAX Co. it has a 52 week low of $13.20 and a 52 week high of $22.13. The company has a market cap of $1.11 billion, a P/E ratio of 43.75, a PEG ratio of 1.53 and a beta of 1.25.

IMAX (NYSE:IMAX – Get Your Free Report ) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. IMAX had a net margin of 5.97% and a return on equity of 7.78%. The firm had revenue of $88.96 million for the quarter, compared to the consensus estimate of $74.52 million. In the same quarter last year, the firm earned $0.17 EPS. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. As a group, equities research analysts forecast that IMAX Co. will post 0.69 EPS for the current fiscal year.

The Wall Street analyst weighs in

Several research analysts recently commented on IMAX shares. Seaport Res Ptn raised shares of IMAX to a “strong-buy” rating in a research note on Wednesday, July 24th. Macquarie upped their target price on shares of IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. B. Riley upped their target price on shares of IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Roth Mkm upped their target price on shares of IMAX from $23.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Barrington Research reissued an “outperform” rating and set a $25.00 target price on shares of IMAX in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.78, according to data from MarketBeat.com.

Get the latest report on IMAX

About IMAX

(Free report)

IMAX Corporation, together with its subsidiaries, operates as a worldwide entertainment and events technology platform. 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 in IMAX formats for distribution on the IMAX network; IMAX Enhanced which provides end-to-end technology for streaming content and home entertainment devices; and SSIMWAVE, an AI-powered video quality solution for media and entertainment companies.

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