Peregrine Capital Management LLC Has $7.02 Million Holdings in IMAX Co. (NYSE:IMAX)

Peregrine Capital Management LLC decreased its stake in IMAX Co. (NYSE:IMAX) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 274,205 shares of the company’s stock after selling 9,830 shares during the period. Peregrine Capital Management LLC’s holdings in IMAX were worth $7,020,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of IMAX. Principal Financial Group Inc. grew its position in IMAX by 69.3% during the fourth quarter. Principal Financial Group Inc. now owns 103,946 shares of the company’s stock worth $2,661,000 after buying an additional 42,562 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of IMAX by 138.5% during the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after purchasing an additional 561 shares in the last quarter. Savant Capital LLC bought a new stake in shares of IMAX during the fourth quarter valued at approximately $249,000. Calamos Advisors LLC acquired a new position in shares of IMAX in the fourth quarter valued at $351,000. Finally, Hedges Asset Management LLC lifted its position in IMAX by 3.1% in the fourth quarter. Hedges Asset Management LLC now owns 83,600 shares of the company’s stock worth $2,140,000 after purchasing an additional 2,500 shares during the period. Institutional investors own 93.51% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on IMAX. StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Roth Mkm upped their target price on shares of IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Barrington Research restated an “outperform” rating and set a $30.00 price target on shares of IMAX in a research note on Friday, January 10th. JPMorgan Chase & Co. upped their price objective on IMAX from $21.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Finally, Wedbush restated an “outperform” rating and set a $32.00 target price on shares of IMAX in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $28.63.

Insider Activity at IMAX

In other news, EVP Robert D. Lister sold 55,910 shares of IMAX stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 138,889 shares of the company’s stock, valued at approximately $3,541,669.50. This trade represents a 28.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kenneth Ian Weissman sold 6,309 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.51, for a total value of $160,942.59. Following the transaction, the insider now directly owns 25,139 shares in the company, valued at $641,295.89. This trade represents a 20.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,176 shares of company stock valued at $1,662,110 over the last ninety days. 24.08% of the stock is owned by insiders.

IMAX Stock Performance

Shares of IMAX opened at $27.01 on Wednesday. The stock has a fifty day moving average price of $24.60 and a two-hundred day moving average price of $22.90. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 61.38, a PEG ratio of 1.40 and a beta of 1.22. IMAX Co. has a 52-week low of $14.90 and a 52-week high of $27.38.

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.