Imax Corporation (IMAX) Stake Decreased by J.P. Marvel Investment Advisors LLC

J.P. Marvel Investment Advisors LLC lessened its stake in shares of Imax Corporation (NYSE:IMAX) by 54.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,278 shares of the company’s stock after selling 14,930 shares during the quarter. J.P. Marvel Investment Advisors LLC’s holdings in Imax Corporation were worth $270,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Franklin Resources Inc. lifted its position in shares of Imax Corporation by 33.4% during the 2nd quarter. Franklin Resources Inc. now owns 5,063,469 shares of the company’s stock worth $111,412,000 after buying an additional 1,266,939 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in shares of Imax Corporation during the 2nd quarter worth approximately $84,137,000. Alliancebernstein L.P. lifted its position in shares of Imax Corporation by 2.3% during the 2nd quarter. Alliancebernstein L.P. now owns 3,255,313 shares of the company’s stock worth $71,617,000 after buying an additional 73,675 shares during the last quarter. BlackRock Inc. lifted its position in shares of Imax Corporation by 54,861.2% during the 1st quarter. BlackRock Inc. now owns 2,607,357 shares of the company’s stock worth $88,651,000 after buying an additional 2,602,613 shares during the last quarter. Finally, Stephens Investment Management Group LLC lifted its position in shares of Imax Corporation by 31.9% during the 2nd quarter. Stephens Investment Management Group LLC now owns 1,994,507 shares of the company’s stock worth $43,879,000 after buying an additional 482,151 shares during the last quarter. Institutional investors and hedge funds own 83.36% of the company’s stock.

In other Imax Corporation news, CFO Patrick Mcclymont sold 1,760 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $20.50, for a total value of $36,080.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Greg Foster sold 9,417 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $19.55, for a total value of $184,102.35. Following the completion of the sale, the chief executive officer now owns 67,018 shares in the company, valued at $1,310,201.90. The disclosure for this sale can be found here. Company insiders own 18.90% of the company’s stock.

WARNING: “Imax Corporation (IMAX) Stake Decreased by J.P. Marvel Investment Advisors LLC” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States and international copyright laws. The original version of this piece can be accessed at https://ledgergazette.com/2017/10/16/imax-corporation-imax-stake-decreased-by-j-p-marvel-investment-advisors-llc.html.

IMAX has been the subject of several recent analyst reports. Wedbush restated a “buy” rating and set a $29.00 price objective on shares of Imax Corporation in a research report on Tuesday, October 10th. B. Riley reiterated a “buy” rating and issued a $35.00 price target on shares of Imax Corporation in a research report on Tuesday, August 1st. BidaskClub downgraded shares of Imax Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research downgraded shares of Imax Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, Piper Jaffray Companies set a $35.00 price target on shares of Imax Corporation and gave the company a “buy” rating in a research report on Friday, July 21st. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $32.00.

Shares of Imax Corporation (IMAX) traded up 0.118% during trading on Monday, reaching $21.175. 356,960 shares of the company’s stock traded hands. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 143.074 and a beta of 0.99. The company has a 50 day moving average of $21.29 and a 200-day moving average of $24.31. Imax Corporation has a 1-year low of $17.58 and a 1-year high of $35.30.

Imax Corporation (NYSE:IMAX) last posted its earnings results on Wednesday, July 26th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.17. The c

Several other large investors also recently modified their holdings of the company. Franklin Resources Inc. lifted its position in shares of Imax Corporation by 33.4% during the 2nd quarter. Franklin Resources Inc. now owns 5,063,469 shares of the company’s stock worth $111,412,000 after buying an additional 1,266,939 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in shares of Imax Corporation during the 2nd quarter worth approximately $84,137,000. Alliancebernstein L.P. lifted its position in shares of Imax Corporation by 2.3% during the 2nd quarter. Alliancebernstein L.P. now owns 3,255,313 shares of the company’s stock worth $71,617,000 after buying an additional 73,675 shares during the last quarter. BlackRock Inc. lifted its position in shares of Imax Corporation by 54,861.2% during the 1st quarter. BlackRock Inc. now owns 2,607,357 shares of the company’s stock worth $88,651,000 after buying an additional 2,602,613 shares during the last quarter. Finally, Stephens Investment Management Group LLC lifted its position in shares of Imax Corporation by 31.9% during the 2nd quarter. Stephens Investment Management Group LLC now owns 1,994,507 shares of the company’s stock worth $43,879,000 after buying an additional 482,151 shares during the last quarter. Institutional investors and hedge funds own 83.36% of the company’s stock.

In other Imax Corporation news, CFO Patrick Mcclymont sold 1,760 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $20.50, for a total value of $36,080.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Greg Foster sold 9,417 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $19.55, for a total value of $184,102.35. Following the completion of the sale, the chief executive officer now owns 67,018 shares in the company, valued at $1,310,201.90. The disclosure for this sale can be found here. Company insiders own 18.90% of the company’s stock.

WARNING: “Imax Corporation (IMAX) Stake Decreased by J.P. Marvel Investment Advisors LLC” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States and international copyright laws. The original version of this piece can be accessed at https://ledgergazette.com/2017/10/16/imax-corporation-imax-stake-decreased-by-j-p-marvel-investment-advisors-llc.html.

IMAX has been the subject of several recent analyst reports. Wedbush restated a “buy” rating and set a $29.00 price objective on shares of Imax Corporation in a research report on Tuesday, October 10th. B. Riley reiterated a “buy” rating and issued a $35.00 price target on shares of Imax Corporation in a research report on Tuesday, August 1st. BidaskClub downgraded shares of Imax Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research downgraded shares of Imax Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, Piper Jaffray Companies set a $35.00 price target on shares of Imax Corporation and gave the company a “buy” rating in a research report on Friday, July 21st. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $32.00.

Shares of Imax Corporation (IMAX) traded up 0.118% during trading on Monday, reaching $21.175. 356,960 shares of the company’s stock traded hands. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 143.074 and a beta of 0.99. The company has a 50 day moving average of $21.29 and a 200-day moving average of $24.31. Imax Corporation has a 1-year low of $17.58 and a 1-year high of $35.30.

Imax Corporation (NYSE:IMAX) last posted its earnings results on Wednesday, July 26th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.17. The company had revenue of $87.76 million for the quarter, compared to analysts’ expectations of $89.26 million. Imax Corporation had a return on equity of 2.39% and a net margin of 2.81%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the business posted $0.18 earnings per share. Equities analysts predict that Imax Corporation will post $0.60 earnings per share for the current year.

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.

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

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