IMAX Co. (NYSE:IMAX) EVP Sells $1,425,705.00 in Stock

IMAX Co. (NYSE:IMAX) EVP Robert D. Lister sold 55,910 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the completion of the sale, the executive vice president now directly owns 138,889 shares in the company, valued at approximately $3,541,669.50. This represents a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

IMAX Trading Up 1.1 %

IMAX stock opened at $25.84 on Wednesday. IMAX Co. has a 1-year low of $13.20 and a 1-year high of $26.84. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 58.73, a price-to-earnings-growth ratio of 1.68 and a beta of 1.23. The firm’s fifty day moving average price is $23.16 and its two-hundred day moving average price is $20.28.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share 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 for the quarter, compared to analyst estimates of $93.71 million. During the same period last year, the firm earned $0.27 earnings per share. The business’s quarterly revenue was down 11.9% compared to the same quarter last year. On average, research analysts forecast that IMAX Co. will post 0.77 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Huntington National Bank purchased a new stake in shares of IMAX in the third quarter valued at about $34,000. Headlands Technologies LLC purchased a new stake in shares of IMAX in the second quarter valued at about $35,000. Quarry LP raised its holdings in shares of IMAX by 78,333.3% in the third quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after purchasing an additional 2,350 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of IMAX in the third quarter valued at about $70,000. Finally, Summit Securities Group LLC purchased a new stake in shares of IMAX in the second quarter valued at about $80,000. 93.51% of the stock is owned by institutional investors.

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.