IMAX (NYSE:IMAX) VP Sells $1,738,457.81 in Stock

IMAX Corporation (NYSE:IMAX) VP Robert Lister sold 50,143 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $34.67, for a total transaction of $1,738,457.81. Following the sale, the vice president directly owned 161,421 shares of the company’s stock, valued at $5,596,466.07. The trade was a 23.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

IMAX Price Performance

IMAX traded up $0.02 during trading on Friday, hitting $34.45. The company had a trading volume of 1,657,804 shares, compared to its average volume of 977,654. The business has a 50-day moving average of $31.94 and a 200-day moving average of $28.51. The company has a market cap of $1.85 billion, a PE ratio of 48.51, a P/E/G ratio of 2.05 and a beta of 0.60. IMAX Corporation has a 1-year low of $20.48 and a 1-year high of $35.60.

IMAX (NYSE:IMAX) last issued its earnings results on Thursday, October 23rd. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. IMAX had a net margin of 10.47% and a return on equity of 9.91%. The business had revenue of $106.65 million for the quarter, compared to analyst estimates of $102.88 million. During the same quarter in the prior year, the business posted $0.35 EPS. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. Research analysts forecast that IMAX Corporation will post 0.91 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wedbush increased their target price on shares of IMAX from $35.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of IMAX in a research report on Wednesday, October 8th. Barrington Research reiterated an “outperform” rating and issued a $37.00 price objective on shares of IMAX in a report on Thursday, October 23rd. Wall Street Zen upgraded IMAX from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Finally, Benchmark upped their price objective on IMAX from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, July 25th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.67.

Institutional Investors Weigh In On IMAX

Institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its holdings in shares of IMAX by 5,223.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 9,689 shares of the company’s stock worth $317,000 after acquiring an additional 9,507 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of IMAX by 2.4% during the third quarter. Rhumbline Advisers now owns 65,298 shares of the company’s stock valued at $2,138,000 after purchasing an additional 1,550 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of IMAX by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,041 shares of the company’s stock valued at $34,000 after purchasing an additional 317 shares during the period. Principal Financial Group Inc. increased its stake in IMAX by 67.8% in the 3rd quarter. Principal Financial Group Inc. now owns 70,927 shares of the company’s stock worth $2,323,000 after purchasing an additional 28,667 shares in the last quarter. Finally, Thrivent Financial for Lutherans purchased a new position in IMAX in the 3rd quarter worth about $3,272,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

About IMAX

IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates in two segments, Content Solutions and Technology Products and Services. The company offers IMAX DMR, a proprietary technology that digitally remasters films and other content into IMAX formats for distribution to the IMAX network; IMAX Enhanced that provides end-to-end technology across streaming content and entertainment devices at home; and SSIMWAVE, an AI-driven video quality solutions for media and entertainment companies.