Key Points
- CEO Richard Gelfond sold 15,746 IMAX shares on April 15 at an average of $37.07 for about $583,704 under a pre-arranged Rule 10b5-1 plan, trimming his stake by 2.02% while still owning 765,002 shares (≈$28.36M).
- IMAX recently beat expectations, reporting $0.58 EPS vs. a $0.43 consensus and revenue of $125.21M (up 35.1% YoY), with analysts forecasting roughly $0.91 EPS for the fiscal year.
- Analysts are largely positive—ten Buys and one Hold—with an average price target of $43.70; the stock trades near $37, with a market cap of about $2.0B and a PE of ~59.7.
IMAX Corporation (NYSE:IMAX - Get Free Report) CEO Richard Gelfond sold 6,924 shares of the company's stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $37.07, for a total transaction of $256,672.68. Following the completion of the sale, the chief executive officer directly owned 765,002 shares in the company, valued at $28,358,624.14. This represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
IMAX Price Performance
NYSE:IMAX opened at $37.03 on Thursday. The firm's 50-day moving average price is $38.25 and its 200-day moving average price is $36.14. The company has a market capitalization of $2.00 billion, a PE ratio of 59.72, a P/E/G ratio of 1.68 and a beta of 0.41. IMAX Corporation has a 1-year low of $21.49 and a 1-year 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 analysts' consensus estimates of $0.43 by $0.15. The firm 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 company's revenue was up 35.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 EPS. Equities analysts anticipate that IMAX Corporation will post 0.91 EPS for the current fiscal year.
Key Stories Impacting IMAX
Here are the key news stories impacting IMAX this week:
Wall Street Analyst Weigh In
Several brokerages recently commented on IMAX. Wells Fargo & Company increased 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. Benchmark increased their price objective on shares of IMAX from $42.00 to $44.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. The Goldman Sachs Group increased 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. Wedbush reissued an "outperform" rating and set a $46.00 price objective on shares of IMAX in a research report on Monday, February 23rd. Finally, Seaport Research Partners increased their price objective on shares of IMAX from $43.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, April 8th. Ten 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.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $43.70.
Read Our Latest Stock Report on IMAX
Institutional Trading of IMAX
Several institutional investors have recently bought and sold shares of IMAX. AQR Capital Management LLC grew its position in IMAX by 47.9% during the 1st quarter. AQR Capital Management LLC now owns 56,348 shares of the company's stock valued at $1,485,000 after purchasing an additional 18,238 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of IMAX by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,486 shares of the company's stock valued at $672,000 after acquiring an additional 1,091 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of IMAX by 7.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,714 shares of the company's stock valued at $4,208,000 after acquiring an additional 11,736 shares during the last quarter. Creative Planning boosted its holdings in shares of IMAX by 84.1% during the 2nd quarter. Creative Planning now owns 16,081 shares of the company's stock valued at $450,000 after acquiring an additional 7,344 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of IMAX during the 2nd quarter valued at about $709,000. 93.51% of the stock is owned by hedge funds and other 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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