Kenneth Ian Weissman Sells 6,309 Shares of IMAX Co. (NYSE:IMAX) Stock

IMAX Co. (NYSE:IMAX) insider Kenneth Ian Weissman sold 6,309 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.51, for a total transaction of $160,942.59. Following the completion of the transaction, the insider now directly owns 25,139 shares in the company, valued at $641,295.89. This represents a 20.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

IMAX Trading Up 1.1 %

NYSE IMAX opened at $25.84 on Wednesday. The firm’s fifty day simple moving average is $23.16 and its two-hundred day simple moving average is $20.28. The firm has a market capitalization of $1.36 billion, a P/E ratio of 58.73, a P/E/G ratio of 1.68 and a beta of 1.23. IMAX Co. has a 12-month low of $13.20 and a 12-month high of $26.84.

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

Hedge Funds Weigh In On IMAX

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in IMAX by 13.2% during the 1st quarter. Vanguard Group Inc. now owns 584,795 shares of the company’s stock worth $9,456,000 after purchasing an additional 68,155 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of IMAX by 33.1% during the second quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock worth $21,687,000 after buying an additional 321,506 shares during the period. Mizuho Markets Americas LLC grew its holdings in shares of IMAX by 47.5% during the third quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company’s stock valued at $7,952,000 after buying an additional 124,811 shares during the last quarter. American Century Companies Inc. increased its position in shares of IMAX by 57.0% in the 2nd quarter. American Century Companies Inc. now owns 120,021 shares of the company’s stock valued at $2,013,000 after acquiring an additional 43,584 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in IMAX by 90.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock worth $9,856,000 after acquiring an additional 279,410 shares during the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

Analyst Ratings Changes

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

About IMAX

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.