Imax Corp (NYSE:IMAX) insider Mark Welton sold 2,831 shares of Imax stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $21.25, for a total transaction of $60,158.75. Following the sale, the insider now owns 5,670 shares in the company, valued at $120,487.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Imax stock opened at $21.44 on Thursday. Imax Corp has a 52-week low of $17.55 and a 52-week high of $25.75. The firm has a 50 day moving average price of $21.35 and a two-hundred day moving average price of $21.19. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 38.29, a PEG ratio of 1.53 and a beta of 0.94.
Imax (NYSE:IMAX) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. The firm had revenue of $86.40 million during the quarter, compared to analyst estimates of $87.23 million. Imax had a net margin of 7.99% and a return on equity of 6.90%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.14 EPS. Equities research analysts expect that Imax Corp will post 0.8 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in IMAX. First Trust Advisors LP increased its stake in shares of Imax by 73.0% in the 1st quarter. First Trust Advisors LP now owns 38,383 shares of the company’s stock valued at $871,000 after acquiring an additional 16,201 shares in the last quarter. Strs Ohio bought a new stake in shares of Imax in the 2nd quarter valued at $595,000. SG Americas Securities LLC increased its stake in shares of Imax by 338.9% in the 2nd quarter. SG Americas Securities LLC now owns 95,246 shares of the company’s stock valued at $1,924,000 after acquiring an additional 73,547 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Imax by 107.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,649 shares of the company’s stock valued at $134,000 after acquiring an additional 3,443 shares in the last quarter. Finally, Aperio Group LLC bought a new stake in shares of Imax in the 2nd quarter valued at $35,000. Institutional investors own 78.14% of the company’s stock.
IMAX has been the topic of several recent research reports. ValuEngine downgraded shares of Imax from a “sell” rating to a “strong sell” rating in a research report on Wednesday, November 20th. B. Riley set a $34.00 target price on shares of Imax and gave the stock a “buy” rating in a research report on Tuesday, September 10th. MKM Partners reiterated a “buy” rating and set a $28.00 target price on shares of Imax in a research report on Tuesday, November 19th. Wedbush reiterated a “buy” rating and set a $28.00 target price on shares of Imax in a research report on Friday, November 1st. Finally, Goldman Sachs Group set a $23.00 target price on shares of Imax and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $26.86.
IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company that specializes in motion picture technologies and presentations worldwide. It offers cinematic solution comprising proprietary software, theater architecture, and equipment. The company engages in Digital Re-Mastering (DMR) of films into the IMAX format for exhibition in the IMAX theater network; the provision of IMAX premium theater systems to exhibitor customers through sales, long-term leases, and joint revenue sharing arrangements; the distribution of documentary films; the provision of production technical support and film post-production services; the ownership and operation of IMAX theaters; and the provision of camera and other miscellaneous items rental services.
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