Imax Corp (NYSE:IMAX) Director Bradley J. Wechsler sold 12,000 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $23.02, for a total transaction of $276,240.00. Following the sale, the director now directly owns 125,667 shares in the company, valued at $2,892,854.34. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of IMAX stock traded up $0.15 on Friday, reaching $19.96. The company’s stock had a trading volume of 518,900 shares, compared to its average volume of 414,023. The firm has a market cap of $1.20 billion, a PE ratio of 35.66, a price-to-earnings-growth ratio of 1.22 and a beta of 1.11. Imax Corp has a 1 year low of $17.55 and a 1 year high of $26.10.
Imax (NYSE:IMAX) last posted its quarterly earnings data on Friday, April 26th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.11 by $0.01. The company had revenue of $80.20 million during the quarter, compared to analyst estimates of $81.29 million. Imax had a net margin of 6.12% and a return on equity of 6.31%. Imax’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 earnings per share. As a group, research analysts anticipate that Imax Corp will post 0.91 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Advisor Group Inc. boosted its stake in Imax by 36.8% during the first quarter. Advisor Group Inc. now owns 2,217 shares of the company’s stock worth $51,000 after buying an additional 596 shares during the period. Federated Investors Inc. PA lifted its position in shares of Imax by 0.3% during the first quarter. Federated Investors Inc. PA now owns 172,166 shares of the company’s stock worth $3,904,000 after purchasing an additional 597 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Imax by 2.9% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 23,751 shares of the company’s stock worth $447,000 after purchasing an additional 660 shares during the last quarter. Penserra Capital Management LLC lifted its position in shares of Imax by 50.0% during the first quarter. Penserra Capital Management LLC now owns 2,376 shares of the company’s stock worth $53,000 after purchasing an additional 792 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Imax by 7.5% during the fourth quarter. Legal & General Group Plc now owns 21,880 shares of the company’s stock worth $411,000 after purchasing an additional 1,531 shares during the last quarter. 77.84% of the stock is owned by institutional investors.
Several equities analysts have issued reports on the stock. TheStreet cut shares of Imax from a “b-” rating to a “c” rating in a research note on Thursday, May 23rd. B. Riley set a $34.00 price objective on shares of Imax and gave the stock a “buy” rating in a research note on Monday, May 20th. Wedbush set a $28.00 price objective on shares of Imax and gave the stock a “buy” rating in a research note on Monday, April 22nd. MKM Partners increased their price objective on shares of Imax to $28.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Finally, Canaccord Genuity cut shares of Imax from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a research note on Monday, February 25th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Imax currently has an average rating of “Buy” and an average target price of $26.83.
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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