IMAX Corporation (NYSE:IMAX - Get Free Report) CEO Richard Gelfond sold 8,943 shares of the firm's stock in a transaction on Monday, April 27th. The stock was sold at an average price of $37.33, for a total transaction of $333,842.19. Following the completion of the sale, the chief executive officer owned 765,002 shares in the company, valued at $28,557,524.66. This represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
IMAX Price Performance
NYSE IMAX opened at $37.02 on Wednesday. The company's fifty day moving average is $38.22 and its two-hundred day moving average is $36.40. IMAX Corporation has a 52-week low of $22.54 and a 52-week high of $43.16. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 59.70, a P/E/G ratio of 1.67 and a beta of 0.41.
IMAX (NYSE:IMAX - Get Free Report) last issued its earnings results on Wednesday, February 25th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.15. IMAX had a net margin of 8.50% and a return on equity of 13.53%. The business had revenue of $125.21 million for the quarter, compared to analyst estimates of $120.30 million. During the same period in the previous year, the business earned $0.27 EPS. The firm's revenue was up 35.1% on a year-over-year basis. As a group, sell-side analysts expect that IMAX Corporation will post 1.33 earnings per share for the current fiscal year.
Institutional Trading of IMAX
Hedge funds and other institutional investors have recently made changes to their positions in the business. CIBC Private Wealth Group LLC acquired a new stake in shares of IMAX in the third quarter valued at $27,000. Quarry LP raised its stake in shares of IMAX by 166.8% in the fourth quarter. Quarry LP now owns 875 shares of the company's stock worth $32,000 after acquiring an additional 547 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of IMAX by 43.8% in the third quarter. Jones Financial Companies Lllp now owns 1,041 shares of the company's stock worth $34,000 after acquiring an additional 317 shares during the last quarter. First Horizon Corp bought a new position in shares of IMAX in the third quarter worth about $34,000. Finally, Clearstead Advisors LLC bought a new position in shares of IMAX in the third quarter worth about $35,000. 93.51% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on IMAX. Wall Street Zen lowered shares of IMAX from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 28th. JPMorgan Chase & Co. lifted their target price on shares of IMAX from $47.00 to $48.00 and gave the company an "overweight" rating in a research report on Thursday, February 26th. Benchmark lifted their price target on shares of IMAX from $42.00 to $44.00 and gave the company a "buy" rating in a report on Thursday, February 26th. The Goldman Sachs Group lifted their price target on shares of IMAX from $37.00 to $41.00 and gave the company a "neutral" rating in a report on Monday, March 2nd. Finally, Rosenblatt Securities reissued a "buy" rating and set a $47.00 price target on shares of IMAX in a report on Monday, April 20th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $43.70.
Read Our Latest Research Report on IMAX
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.
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].
