Imax Corporation (NYSE:IMAX) Stock Traded Significantly Above Its 50 Day Average

Imax Corp

Bank of New York Mellon Corp Has $24.97 Million Holdings in Imax Corporation (IMAX)

Cubist Systematic Strategies LLC now owns 28,358 shares of the company's stock worth $624,000 after purchasing an additional 24,778 shares during the period.

These funds have shifted positions in (IMAX).

IMAX Corporation, launched on January 1, 2002, is an entertainment technology company. Kalmar Investments Inc /de/ claims 144,930 shares worth $4,928,000.

As of quarter end Lebenthal Asset Management, LLC had bought 32,039 shares growing its stake by 97.1%. The value of the investment in (IMAX) decreased from $1,919,000 to $1,242,000 a change of 35.3% quarter to quarter. Ibis Capital Partners Llp owns 619,179 shares valued at $13,622,000. As of the end of the quarter Chartwell Investment Partners, LLC had bought 23 shares growing its position 0.0%.

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Company shares last traded at $22.90 which is significantly higher than $19.59, the stock's 50 day moving average and which is quite a bit below the 200 day moving average of $25.72.

The P/E ratio is 154.73 and the market cap of the company is 1.48B.

Imax Corporation (NYSE:IMAX) last released its quarterly earnings data on Wednesday, July 26th. The company reported $0.15 EPS for the quarter, beating the Zacks' consensus estimate of ($0.02) by $0.17. IMAX Corporation has its outstanding Shares of 61.64 Million. The company's revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.18 earnings per share. The company beat the analyst EPS Estimate with the difference of $0.04.

Imax Corporation announced that its Board of Directors has initiated a stock buyback program on Monday, June 12th that authorizes the company to buyback $200.00 million in shares. This repurchase authorization permits the company to reacquire up to 12.5% of its shares through open market purchases. The ATR (Average True Range) value is 0.76. The shares were sold at an average price of $19.55, for a total transaction of $184,102.35. Following the transaction, the chief executive officer now directly owns 67,018 shares in the company, valued at approximately $1,310,201.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Patrick Mcclymont sold 1,760 shares of Imax Corporation stock in a transaction on Wednesday, August 9th. The disclosure for this sale can be found here. However, the institutional investors are observed to own 91.40% of the total shares.

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IMAX has been the topic of a number of other research reports.

On June 7, 2017 the stock rating was set at "Hold" by Benchmark a cut from the previous "Buy" rating. The original version of this news story can be read at https://stocknewstimes.com/2017/09/21/imax-corp-imax-upgraded-to-sell-by-bidaskclub.html. Finally, Barrington Research downgraded shares of Imax Corporation from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 12th. Trading volume for Imax Corporation was 182K by the end of trading on Thursday. The Company offers motion picture technologies and presentations. Currently, the stock has a 1 Year Price Target of $29.55.

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Many analysts have provided their estimated foresights on IMAX Corporation Earnings, with 12 analysts believing the company would generate an Average Estimate of $0.03. The Company operates through seven segments: 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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