Key Points
- CFO Natasha Fernandes sold 20,000 IMAX shares at an average price of $54.63, generating approximately $1.09 million and reducing her holdings by 35.97% to 35,596 shares.
- IMAX exceeded quarterly expectations, reporting $0.43 in earnings per share versus the $0.30 consensus and $102.84 million in revenue, up 12.2% year over year.
- Analysts maintain a generally positive view, with 10 Buy ratings and three Holds, although the stock’s elevated valuation—about 73 times earnings—could increase sensitivity to disappointing results or guidance.
IMAX Corporation (NYSE:IMAX - Get Free Report) insider Kenneth Ian Weissman sold 8,000 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $54.54, for a total value of $436,320.00. Following the completion of the sale, the insider owned 28,205 shares in the company, valued at $1,538,300.70. The trade was a 22.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
IMAX Stock Down 2.2%
NYSE:IMAX opened at $52.69 on Thursday. The company has a market cap of $2.89 billion, a P/E ratio of 73.18, a price-to-earnings-growth ratio of 1.73 and a beta of 0.38. IMAX Corporation has a twelve month low of $27.67 and a twelve month high of $55.57. The business has a 50 day moving average price of $45.27 and a two-hundred day moving average price of $40.56.
IMAX (NYSE:IMAX - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.13. The company had revenue of $102.84 million for the quarter, compared to the consensus estimate of $96.09 million. IMAX had a net margin of 9.84% and a return on equity of 15.47%. The firm's revenue was up 12.2% compared to the same quarter last year. During the same period last year, the company earned $0.26 earnings per share. As a group, analysts anticipate that IMAX Corporation will post 1.49 earnings per share for the current fiscal year.
Institutional Investors Weigh In On IMAX
A number of institutional investors and hedge funds have recently modified their holdings of IMAX. Pier Capital LLC lifted its position in shares of IMAX by 85.0% in the fourth quarter. Pier Capital LLC now owns 244,589 shares of the company's stock valued at $9,040,000 after buying an additional 112,397 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of IMAX by 76.3% during the 1st quarter. Principal Financial Group Inc. now owns 192,120 shares of the company's stock worth $7,302,000 after acquiring an additional 83,118 shares during the last quarter. Westfield Capital Management Co. LP increased its holdings in shares of IMAX by 44.6% during the 4th 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 during the last quarter. Chase Investment Counsel Corp bought a new stake in IMAX in the 4th quarter valued at $3,070,000. Finally, Militia Capital Management LLC bought a new stake in IMAX in the 1st quarter valued at $1,634,000. 93.51% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on IMAX shares. JPMorgan Chase & Co. boosted their price target on shares of IMAX from $47.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, July 24th. Benchmark restated a "buy" rating on shares of IMAX in a report on Monday, June 22nd. Wedbush raised their price target on IMAX from $46.00 to $54.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $60.00 price target on shares of IMAX in a research note on Friday, May 22nd. Finally, HC Wainwright reaffirmed a "buy" rating on shares of IMAX in a research report on Friday, July 24th. Ten analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $52.36.
Get Our Latest Stock Report on IMAX
Key Stories Impacting IMAX
Here are the key news stories impacting IMAX this week:
- Positive Sentiment: IMAX continues to benefit from strong audience interest in premium screenings, including reported ticket demand in New York and upcoming high-profile releases such as Akira, Dune: Part Three and the limited-run Queen Budapest concert film. These events could support box-office revenue and reinforce the value of IMAX’s format. IMAX ticket demand article Queen Budapest IMAX article
- Positive Sentiment: A new IMAX auditorium is planned for Mann Theatres’ Plymouth location, adding to the company’s theater network and potentially increasing future installation, maintenance and box-office participation revenue. Mann Theatres Plymouth IMAX article
- Positive Sentiment: Management will present at upcoming Bank of America and Goldman Sachs investor conferences in September. The appearances may provide additional detail on theater installations, film demand and growth plans, keeping institutional attention on the stock. IMAX investor conference announcement
- Neutral Sentiment: IMAX recently reached a new one-year high after a rally tied to enthusiasm for its immersive format and expectations that additional theater installations will drive earnings growth. However, the elevated valuation—approximately 73 times earnings—could make the stock sensitive to profit-taking or disappointing guidance. IMAX one-year high article
- Negative Sentiment: Chief Financial Officer Natasha Fernandes sold 20,000 shares for approximately $1.09 million, reducing her direct ownership by nearly 36%. Another insider, Kenneth Ian Weissman, sold 8,000 shares for about $436,000 and reduced his holdings by roughly 22%. Although insider sales do not necessarily indicate weakening fundamentals, the transactions can weigh on sentiment after the stock’s strong run. CFO SEC filing Insider SEC filing
- Negative Sentiment: The planned closure of AMC Kips Bay 15 in New York will remove an IMAX screen, highlighting the risk that theater shutdowns can offset new auditorium openings and reduce the company’s available exhibition footprint. AMC Kips Bay IMAX closure article
IMAX Company Profile
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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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