Key Points
- IMAX CEO Richard Gelfond sold 135,046 shares on April 10 at an average price of $37.82 under a Rule 10b5-1 plan, generating about $5.11 million and cutting his holding by 15% to 765,002 shares (≈ $28.93M).
- The company beat expectations for the quarter with $0.58 EPS vs. $0.43 consensus and revenue of $125.21 million (up 35.1% year-over-year), signaling stronger-than-forecast results.
- Analysts are broadly positive—MarketBeat shows a consensus rating of "Moderate Buy" with a consensus price target of $43.70; IMAX has a market cap of about $2.04 billion and a 52-week high of $43.16.
IMAX Corporation (NYSE:IMAX - Get Free Report) CEO Richard Gelfond sold 135,046 shares of IMAX stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $37.82, for a total transaction of $5,107,439.72. Following the completion of the transaction, the chief executive officer directly owned 765,002 shares in the company, valued at approximately $28,932,375.64. This trade represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
IMAX Price Performance
IMAX stock opened at $37.75 on Friday. The firm's 50 day simple moving average is $38.16 and its 200-day simple moving average is $36.02. The company has a market cap of $2.04 billion, a P/E ratio of 60.89, a price-to-earnings-growth ratio of 1.72 and a beta of 0.41. IMAX Corporation has a fifty-two week low of $20.48 and a fifty-two week high of $43.16.
IMAX (NYSE:IMAX - Get Free Report) last released its earnings results on Wednesday, February 25th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.15. The business had revenue of $125.21 million for the quarter, compared to the consensus estimate of $120.30 million. IMAX had a net margin of 8.50% and a return on equity of 13.53%. The firm's quarterly revenue was up 35.1% compared to the same quarter last year. During the same period last year, the firm posted $0.27 earnings per share. On average, analysts expect that IMAX Corporation will post 0.91 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
IMAX has been the topic of several analyst reports. Benchmark lifted their target price on shares of IMAX from $42.00 to $44.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Macquarie Infrastructure boosted their price objective on shares of IMAX from $39.00 to $44.00 and gave the company an "outperform" rating in a research report on Thursday, January 15th. Wells Fargo & Company boosted their price objective on shares of IMAX from $40.00 to $47.00 and gave the company an "overweight" rating in a research report on Thursday, December 18th. Rosenblatt Securities reaffirmed a "buy" rating and set a $47.00 price objective on shares of IMAX in a research report on Tuesday, February 24th. Finally, The Goldman Sachs Group boosted their price objective on shares of IMAX from $37.00 to $41.00 and gave the company a "neutral" rating in a research report on Monday, March 2nd. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.70.
Read Our Latest Analysis on IMAX
Institutional Trading of IMAX
Several large investors have recently added to or reduced their stakes in the business. Orbis Allan Gray Ltd grew its position in IMAX by 31.7% in the second quarter. Orbis Allan Gray Ltd now owns 5,113,033 shares of the company's stock worth $142,960,000 after acquiring an additional 1,230,267 shares in the last quarter. Westfield Capital Management Co. LP grew its position in IMAX by 44.6% in the fourth quarter. Westfield Capital Management Co. LP now owns 2,346,486 shares of the company's stock worth $86,726,000 after acquiring an additional 723,861 shares in the last quarter. Dimensional Fund Advisors LP grew its position in IMAX by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,213,829 shares of the company's stock worth $44,864,000 after acquiring an additional 20,863 shares in the last quarter. Nantahala Capital Management LLC grew its position in IMAX by 24.9% in the second quarter. Nantahala Capital Management LLC now owns 1,133,993 shares of the company's stock worth $31,706,000 after acquiring an additional 225,742 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in IMAX by 1.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,104,071 shares of the company's stock worth $40,806,000 after acquiring an additional 20,079 shares in the last quarter. 93.51% of the stock is owned by institutional investors.
IMAX Company Profile
(
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.
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