IMAX Co. (NYSE:IMAX) Insider Sells $160,942.59 in Stock

IMAX Co. (NYSE:IMAX) insider Kenneth Ian Weissman sold 6,309 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.51, for a total value of $160,942.59. Following the completion of the transaction, the insider now owns 25,139 shares of the company’s stock, valued at $641,295.89. The trade was a 20.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

IMAX Stock Performance

NYSE IMAX opened at $25.97 on Thursday. The business’s 50 day moving average price is $23.27 and its 200-day moving average price is $20.32. IMAX Co. has a fifty-two week low of $13.20 and a fifty-two week high of $26.84. The company has a market cap of $1.37 billion, a P/E ratio of 59.02, a P/E/G ratio of 1.68 and a beta of 1.23.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. The business had revenue of $91.50 million for the quarter, compared to analysts’ expectations of $93.71 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The business’s revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 earnings per share. As a group, equities analysts predict that IMAX Co. will post 0.77 EPS for the current year.

Institutional Trading of IMAX

Institutional investors have recently added to or reduced their stakes in the company. Huntington National Bank bought a new stake in shares of IMAX during the third quarter worth $34,000. Headlands Technologies LLC purchased a new stake in IMAX in the 2nd quarter valued at about $35,000. Quarry LP boosted its position in IMAX by 78,333.3% in the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after buying an additional 2,350 shares during the period. nVerses Capital LLC bought a new position in IMAX in the 3rd quarter worth about $70,000. Finally, Summit Securities Group LLC purchased a new position in shares of IMAX during the second quarter worth approximately $80,000. Institutional investors own 93.51% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wedbush reissued an “outperform” rating on shares of IMAX in a report on Wednesday, November 27th. Roth Mkm increased their price objective on shares of IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 31st. StockNews.com cut IMAX from a “buy” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. increased their price target on IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $28.00 price objective on shares of IMAX in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.22.

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.