Key Points
- IMAX VP Robert Lister sold 22,500 shares at an average price of $51.58, generating $1.16 million. His remaining direct ownership fell 10.98% to 182,375 shares.
- IMAX reported stronger-than-expected quarterly results, with EPS of $0.43 versus the $0.30 consensus and revenue of $102.84 million, up 12.2% year over year.
- Analysts maintain a positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $54.45; shares recently opened at $52.13.
IMAX Corporation (NYSE:IMAX - Get Free Report) VP Robert Lister sold 22,500 shares of IMAX stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $51.58, for a total transaction of $1,160,550.00. Following the completion of the transaction, the vice president directly owned 182,375 shares in the company, valued at approximately $9,406,902.50. This trade represents a 10.98% 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.
IMAX Stock Performance
Shares of NYSE:IMAX opened at $52.13 on Friday. The company has a market cap of $2.86 billion, a PE ratio of 72.41, a price-to-earnings-growth ratio of 1.59 and a beta of 0.40. IMAX Corporation has a 52 week low of $30.74 and a 52 week high of $55.57. The firm has a 50 day simple moving average of $47.54 and a 200 day simple moving average of $41.78.
IMAX (NYSE:IMAX - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.13. IMAX had a net margin of 9.84% and a return on equity of 15.47%. The firm had revenue of $102.84 million during the quarter, compared to analyst estimates of $96.09 million. During the same quarter last year, the business posted $0.26 EPS. The company's revenue was up 12.2% on a year-over-year basis. On average, equities analysts predict that IMAX Corporation will post 1.54 earnings per share for the current year.
Hedge Funds Weigh In On IMAX
A number of hedge funds have recently modified their holdings of the stock. CIBC Private Wealth Group LLC purchased a new stake in shares of IMAX during the third quarter worth $27,000. Quarry LP grew its stake in IMAX by 166.8% in the fourth quarter. Quarry LP now owns 875 shares of the company's stock valued at $32,000 after purchasing an additional 547 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in IMAX by 2,310.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,157 shares of the company's stock valued at $38,000 after purchasing an additional 1,109 shares in the last quarter. Aster Capital Management DIFC Ltd increased its position in IMAX by 863.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,666 shares of the company's stock worth $62,000 after purchasing an additional 1,493 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in IMAX in the 4th quarter worth about $74,000. 93.51% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on IMAX from $47.00 to $50.00 and gave the company an "overweight" rating in a research report on Friday, July 24th. Barrington Research raised their price objective on IMAX from $46.00 to $50.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. HC Wainwright reaffirmed a "buy" rating on shares of IMAX in a research note on Friday, July 24th. Weiss Ratings upgraded IMAX from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 16th. Finally, Seaport Research Partners reissued a "buy" rating and issued a $50.00 price target on shares of IMAX in a research report on Wednesday, June 24th. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, IMAX has a consensus rating of "Moderate Buy" and a consensus target price of $54.45.
Check Out Our Latest Stock Analysis on IMAX
About IMAX
(
Get Free Report)
IMAX Corporation (NYSE: IMAX) is an entertainment technology company that develops and operates premium large-format cinema experiences. Its systems combine specialized projection, immersive sound, large screens and theater design to present feature films, documentaries and other filmed content.
The company provides cinema operators with IMAX projection and sound systems, including its IMAX with Laser technology, as well as theater design, installation and technical support. IMAX also works with filmmakers and studios on content capture, post-production and remastering to optimize movies for its format, including selected 2D and 3D releases.
Founded in 1967, IMAX has expanded from its origins in documentary and institutional film presentations into a global theatrical network.
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