IMAX Co. (NYSE:IMAX) Short Interest Update

IMAX Co. (NYSE:IMAX) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 4,680,000 shares, an increase of 12.8% from the December 31st total of 4,150,000 shares. Currently, 11.1% of the company’s stock are short sold. Based on an average daily trading volume, of 617,100 shares, the short-interest ratio is currently 7.6 days.

IMAX Price Performance

NYSE:IMAX traded up $0.59 during mid-day trading on Monday, reaching $24.14. The stock had a trading volume of 658,331 shares, compared to its average volume of 632,187. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 54.86, a price-to-earnings-growth ratio of 1.30 and a beta of 1.24. IMAX has a 1-year low of $13.20 and a 1-year high of $26.84. The stock’s 50 day simple moving average is $24.65 and its two-hundred day simple moving average is $22.36.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Rosenblatt Securities reissued a “buy” rating and set a $28.00 price objective on shares of IMAX in a report on Thursday, January 16th. JPMorgan Chase & Co. boosted their target price on IMAX from $21.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday. StockNews.com raised IMAX from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Barrington Research restated an “outperform” rating and set a $30.00 target price on shares of IMAX in a research report on Friday, January 10th. Finally, Wedbush restated an “outperform” rating and set a $32.00 price objective on shares of IMAX in a research report on Friday, January 17th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $28.63.

Insider Buying and Selling

In related news, CFO Natasha Fernandes sold 2,957 shares of IMAX stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.52, for a total transaction of $75,462.64. Following the sale, the chief financial officer now directly owns 14,883 shares in the company, valued at $379,814.16. This trade represents a 16.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert D. Lister sold 55,910 shares of IMAX stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.50, for a total value of $1,425,705.00. Following the sale, the executive vice president now owns 138,889 shares in the company, valued at $3,541,669.50. This trade represents a 28.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,176 shares of company stock valued at $1,662,110 in the last ninety days. Company insiders own 24.08% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its stake in shares of IMAX by 1.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company’s stock worth $747,000 after buying an additional 533 shares in the last quarter. Blue Trust Inc. lifted its stake in IMAX by 138.5% during the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after purchasing an additional 561 shares during the last quarter. US Bancorp DE grew its position in IMAX by 23.4% in the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock worth $157,000 after buying an additional 1,452 shares during the last quarter. Huntington National Bank bought a new position in shares of IMAX in the third quarter valued at $34,000. Finally, Quarry LP grew its holdings in shares of IMAX by 78,333.3% in the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after acquiring an additional 2,350 shares during the last quarter. Institutional investors own 93.51% of the company’s stock.

IMAX Company Profile

IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. 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 into IMAX formats for distribution to the IMAX network; IMAX Enhanced that provides end-to-end technology across streaming content and entertainment devices at home; and SSIMWAVE, an AI-driven video quality solutions for media and entertainment companies.