IMAC Holdings, Inc. (NASDAQ:IMAC) COO Matthew C. Wallis Sells 400,000 Shares of Stock

IMAC Holdings, Inc. (NASDAQ:IMAC) COO Matthew C. Wallis sold 400,000 shares of the stock in a transaction dated Wednesday, April 7th. The stock was sold at an average price of $1.60, for a total transaction of $640,000.00. Following the completion of the transaction, the chief operating officer now owns 1,751,694 shares of the company’s stock, valued at $2,802,710.40. The sale was disclosed in a document filed with the SEC, which is available through this link.

NASDAQ:IMAC opened at $1.73 on Friday. The firm has a market cap of $23.15 million, a P/E ratio of -2.62 and a beta of -2.05. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.63 and a current ratio of 0.63. IMAC Holdings, Inc. has a fifty-two week low of $0.64 and a fifty-two week high of $2.73. The firm has a 50-day simple moving average of $2.00 and a two-hundred day simple moving average of $1.45.

IMAC (NASDAQ:IMAC) last released its quarterly earnings data on Wednesday, March 3rd. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). The firm had revenue of $3.46 million for the quarter. IMAC had a negative net margin of 48.78% and a negative return on equity of 87.89%.

IMAC has been the subject of a number of analyst reports. Alliance Global Partners reduced their price objective on shares of IMAC from $3.10 to $2.35 and set a “buy” rating for the company in a research note on Friday. Zacks Investment Research lowered shares of IMAC from a “hold” rating to a “sell” rating in a research note on Wednesday, March 24th.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Susquehanna International Group LLP purchased a new stake in shares of IMAC during the 4th quarter valued at about $46,000. Barclays PLC purchased a new stake in shares of IMAC during the 4th quarter valued at about $145,000. Finally, Trustcore Financial Services LLC purchased a new stake in shares of IMAC during the 4th quarter valued at about $49,000. 1.32% of the stock is currently owned by hedge funds and other institutional investors.

IMAC Company Profile

IMAC Holdings, Inc provides orthopedic therapies through a chain of innovative medical advancements and care regeneration centers in the United States. Its outpatient medical clinics provide regenerative, orthopedic, and minimally invasive procedures and therapies to patients with sports injuries, ligament and tendon damage, and other related soft tissue conditions, as well as back, knee, and joint pains.

Further Reading: 52 Week Highs and Lows

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