What Do Hedge Funds Think of IMAX Corporation (USA) (IMAX)?

Since IMAX Corporation (USA) (NYSE:IMAX) has witnessed bearish sentiment from hedge fund managers, we can see that there were a few fund managers that elected to cut their entire stakes heading into Q4. Interestingly, Dmitry Balyasny’s Balyasny Asset Management dumped the biggest stake of all the hedgies followed by Insider Monkey, worth an estimated $13.1 million in stock. D E Shaw, also said goodbye to its stock, about $11.2 million worth. These moves are interesting, as aggregate hedge fund interest was cut by 1 funds heading into Q4.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as IMAX Corporation (USA) (NYSE:IMAX) but similarly valued. We will take a look at Franks International NV (NYSE:FI), NuVasive, Inc. (NASDAQ:NUVA), HRG Group Inc (NYSE:HRG), and Laclede Group Inc (NYSE:LG). This group of stocks’ market valuations are similar to IMAX’s market valuation.

As you can see these stocks had an average of 20.75 hedge funds with bullish positions and the average amount invested in these stocks was $602 million. That figure was $136 million in IMAX’s case. NuVasive, Inc. (NASDAQ:NUVA) is the most popular stock in this table. On the other hand Laclede Group Inc (NYSE:LG) is the least popular one with only 8 bullish hedge fund 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 NUVA might be a better candidate to consider a long position.