Here’s What Smart Money Thinks of IMAX Corporation (USA) (IMAX)

Now, key hedge funds have jumped into IMAX Corporation (USA) (NYSE:IMAX) headfirst. Columbus Circle Investors initiated the most outsized position in IMAX Corporation (USA) (NYSE:IMAX). Columbus Circle Investors had $13.9 million invested in the company at the end of the quarter. Glen Kacher’s Light Street Capital also made a $13 million investment in the stock during the quarter. The following funds were also among the new IMAX investors: Daniel Gold’s QVT Financial, Israel Englander’s Millennium Management, and Ken Griffin’s Citadel Investment Group.

Let’s now review hedge fund activity in other stocks similar to IMAX Corporation (USA) (NYSE:IMAX). These stocks are NGL Energy Partners LP (NYSE:NGL), LPL Financial Holdings Inc (NASDAQ:LPLA), Masonite International Corp (NYSE:DOOR), and Noble Corporation (NYSE:NE). All of these stocks’ market caps resemble IMAX’s market cap.

As you can see these stocks had an average of 18 hedge funds with bullish positions and the average amount invested in these stocks was $399 million. That figure was $106 million in IMAX’s case. Noble Corporation (NYSE:NE) is the most popular stock in this table. On the other hand NGL Energy Partners LP (NYSE:NGL) is the least popular one with only six funds holding long positions. IMAX Corporation (USA) (NYSE:IMAX) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard NE might be a better candidate to consider taking a long position in.

Disclosure: None