IMAX Co. (NYSE:IMAX) CFO Sells $75,462.64 in Stock

IMAX Co. (NYSE:IMAX) CFO Natasha Fernandes sold 2,957 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.52, for a total transaction of $75,462.64. Following the completion of the sale, the chief financial officer now owns 14,883 shares in the company, valued at $379,814.16. This represents a 16.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

IMAX Stock Down 1.2 %

IMAX opened at $25.55 on Tuesday. The business has a fifty day moving average of $23.04 and a 200 day moving average of $20.22. The stock has a market cap of $1.35 billion, a P/E ratio of 58.07, a PEG ratio of 1.68 and a beta of 1.23. IMAX Co. has a 52-week low of $13.20 and a 52-week high of $26.84.

IMAX (NYSE:IMAX) last issued its earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The firm had revenue of $91.50 million during the quarter, compared to analyst estimates of $93.71 million. During the same period in the previous year, the firm earned $0.27 earnings per share. The business’s revenue was down 11.9% on a year-over-year basis. Equities analysts anticipate that IMAX Co. will post 0.77 EPS for the current fiscal year.

Hedge Funds Weigh In On IMAX

A number of institutional investors have recently modified their holdings of the stock. Huntington National Bank bought a new position in shares of IMAX during the 3rd quarter worth $34,000. Headlands Technologies LLC purchased a new stake in IMAX in the second quarter worth about $35,000. Quarry LP grew its holdings in IMAX by 78,333.3% during 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 in the last quarter. nVerses Capital LLC purchased a new position in IMAX during the 3rd quarter valued at about $70,000. Finally, Summit Securities Group LLC bought a new stake in shares of IMAX in the 2nd quarter valued at about $80,000. 93.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on IMAX. Rosenblatt Securities reissued a “buy” rating and issued a $28.00 price objective on shares of IMAX in a research note on Thursday, October 31st. Wedbush reissued an “outperform” rating on shares of IMAX in a research note on Wednesday, November 27th. StockNews.com lowered IMAX from a “buy” rating to a “hold” rating in a research note on Tuesday. Roth Mkm lifted their target price on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Barrington Research restated an “outperform” rating and set a $24.00 price target on shares of IMAX in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.22.

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.