Granahan Investment Management Inc. MA Has $23.97 Million Stake in Imax Corporation (IMAX)

Granahan Investment Management Inc. MA lowered its position in Imax Corporation (NYSE:IMAX) by 56.4% during the first quarter, Holdings Channel reports. The firm owned 704,903 shares of the company’s stock after selling 912,861 shares during the period. Imax Corporation makes up about 2.4% of Granahan Investment Management Inc. MA’s investment portfolio, making the stock its 3rd largest position. Granahan Investment Management Inc. MA’s holdings in Imax Corporation were worth $23,967,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in IMAX. State Board of Administration of Florida Retirement System boosted its stake in shares of Imax Corporation 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 valued at $691,000 after buying an additional 190 shares during the last quarter. First Republic Investment Management Inc. boosted its stake in shares of Imax Corporation by 1.7% in the fourth quarter. First Republic Investment Management Inc. now owns 11,668 shares of the company’s stock valued at $367,000 after buying an additional 200 shares during the last quarter. Putnam Investments LLC boosted its stake in shares of Imax Corporation by 1.6% in the fourth quarter. Putnam Investments LLC now owns 25,794 shares of the company’s stock valued at $810,000 after buying an additional 416 shares during the last quarter. Blair William & Co. IL boosted its stake in shares of Imax Corporation by 1.5% in the first quarter. Blair William & Co. IL now owns 94,231 shares of the company’s stock valued at $3,203,000 after buying an additional 1,408 shares during the last quarter. Finally, Trillium Asset Management LLC boosted its stake in shares of Imax Corporation by 2.7% in the first quarter. Trillium Asset Management LLC now owns 60,760 shares of the company’s stock valued at $2,066,000 after buying an additional 1,616 shares during the last quarter. 88.60% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Imax Corporation (NYSE:IMAX)

Imax Corporation (NYSE IMAX) traded up 0.80% during midday trading on Friday, reaching $25.20. The company’s stock had a trading volume of 1,860,823 shares. Imax Corporation has a 12 month low of $23.60 and a 12 month high of $35.30. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 96.92 and a beta of 0.95. The stock’s 50-day moving average price is $27.42 and its 200-day moving average price is $31.04.

Imax Corporation (NYSE:IMAX) last released its quarterly earnings results on Thursday, April 20th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. Imax Corporation had a net margin of 5.46% and a return on equity of 2.49%. The company had revenue of $68.70 million during the quarter, compared to analysts’ expectations of $71.53 million. During the same period in the prior year, the company earned $0.22 earnings per share. The business’s quarterly revenue was down 25.4% compared to the same quarter last year. Analysts predict that Imax Corporation will post $0.86 EPS for the current year.

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Several analysts have issued reports on the company. Piper Jaffray Companies restated a “buy” rating on shares of Imax Corporation in a report on Tuesday. Roth Capital set a $33.00 target price on Imax Corporation and gave the company a “buy” rating in a report on Tuesday. B. Riley restated a “buy” rating and issued a $43.50 target price on shares of Imax Corporation in a report on Monday. Canaccord Genuity set a $33.00 target price on Imax Corporation and gave the company a “buy” rating in a report on Thursday, June 8th. Finally, Benchmark Co. lowered Imax Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $38.85.

In other Imax Corporation news, Director Eric A. Demirian sold 2,670 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $25.10, for a total transaction of $67,017.00. Following the completion of the sale, the director now directly owns 17,945 shares in the company, valued at $450,419.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 18.90% of the stock is owned by corporate insiders.

Imax Corporation Company Profile

IMAX Corporation is an entertainment technology company. 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 IMAX systems segment designs, manufactures, sells or leases IMAX theater projection system equipment.

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