IMAX Corporation (NYSE:IMAX - Get Free Report) CEO Richard Gelfond sold 12,037 shares of the business's stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $40.00, for a total value of $481,480.00. Following the transaction, the chief executive officer owned 765,002 shares in the company, valued at $30,600,080. The trade was a 1.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
IMAX Trading Down 2.0%
NYSE IMAX opened at $39.32 on Tuesday. The business's 50 day moving average is $37.88 and its two-hundred day moving average is $35.91. IMAX Corporation has a 12-month low of $20.48 and a 12-month high of $43.16. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 63.42, a PEG ratio of 1.89 and a beta of 0.41.
IMAX (NYSE:IMAX - Get Free Report) last released its earnings results on Wednesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.15. IMAX had a return on equity of 13.53% and a net margin of 8.50%.The company had revenue of $125.21 million for the quarter, compared to analysts' expectations of $120.30 million. During the same quarter in the previous year, the firm posted $0.27 EPS. The firm's quarterly revenue was up 35.1% on a year-over-year basis. Equities analysts forecast that IMAX Corporation will post 0.91 earnings per share for the current fiscal year.
Hedge Funds Weigh In On IMAX
Several hedge funds have recently added to or reduced their stakes in IMAX. Westfield Capital Management Co. LP purchased a new position in IMAX during the 3rd quarter valued at about $53,141,000. Orbis Allan Gray Ltd increased its holdings in IMAX by 31.7% during the 2nd quarter. Orbis Allan Gray Ltd now owns 5,113,033 shares of the company's stock valued at $142,960,000 after acquiring an additional 1,230,267 shares in the last quarter. Divisadero Street Capital Management LP purchased a new position in IMAX during the 3rd quarter valued at about $20,975,000. Marsico Capital Management LLC purchased a new stake in IMAX in the 4th quarter valued at approximately $18,149,000. Finally, Balyasny Asset Management L.P. purchased a new stake in IMAX in the 2nd quarter valued at approximately $12,568,000. 93.51% of the stock is currently owned by hedge funds and other institutional investors.
IMAX News Summary
Here are the key news stories impacting IMAX this week:
- Positive Sentiment: Early sales and 70mm screenings for Dune: Part Three are driving strong demand for IMAX premium formats — multiple outlets report IMAX 70mm shows selling out quickly and heavy consumer interest, a sign of potentially higher per-ticket revenue and stronger box-office contribution to IMAX results. Read More.
- Positive Sentiment: Multiple reports note instant sell-outs and high resale prices for IMAX 70mm screenings (including early shows months ahead of release), indicating scarcity and willingness-to-pay that could lift IMAX’s premium pricing and concession-linked economics on opening weekends. Read More.
- Neutral Sentiment: Analyst commentary highlights IMAX’s long-term growth profile tied to global premium-screen expansion and box-office rebounds; useful context for investors but not an immediate catalyst. Read More.
- Negative Sentiment: CEO Richard Gelfond sold ~25,000 shares across recent trades under a pre-arranged Rule 10b5-1 plan (~$40/share), reducing his ownership modestly; insider sales can create near-term investor concern even when executed under a trading plan. Read More.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on IMAX. Macquarie Infrastructure increased their target price on shares of IMAX from $39.00 to $44.00 and gave the company an "outperform" rating in a report on Thursday, January 15th. Weiss Ratings reissued a "buy (b)" rating on shares of IMAX in a research note on Monday, December 29th. Wedbush restated an "outperform" rating and issued a $46.00 price target on shares of IMAX in a report on Monday, February 23rd. Barrington Research reaffirmed an "outperform" rating and set a $42.00 price objective on shares of IMAX in a report on Monday, January 26th. Finally, Roth Mkm reiterated a "buy" rating and set a $42.00 target price on shares of IMAX in a research report on Monday, December 8th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $43.70.
Check Out Our Latest Stock Analysis on IMAX
About IMAX
(
Get Free Report)
IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.
Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
