Insider Selling: IMAX Co. (NYSE:IMAX) EVP Sells 6,130 Shares of Stock

IMAX Co. (NYSE:IMAX) EVP Calamera Pablo sold 6,130 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $17.05, for a total value of $104,516.50. Following the completion of the transaction, the executive vice president now owns 42,269 shares of the company’s stock, valued at $720,686.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

IMAX Price Performance

NYSE IMAX opened at $16.19 on Thursday. IMAX Co. has a one year low of $13.20 and a one year high of $20.98. The business has a 50 day simple moving average of $16.46 and a 200 day simple moving average of $16.02. The stock has a market capitalization of $851.92 million, a P/E ratio of 33.73, a P/E/G ratio of 1.50 and a beta of 1.25.

IMAX (NYSE:IMAX) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. IMAX had a return on equity of 9.47% and a net margin of 7.13%. The firm had revenue of $79.12 million during the quarter, compared to analysts’ expectations of $77.88 million. Equities analysts expect that IMAX Co. will post 0.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Arizona State Retirement System lifted its holdings in shares of IMAX by 8.9% in the third quarter. Arizona State Retirement System now owns 13,212 shares of the company’s stock valued at $255,000 after purchasing an additional 1,085 shares in the last quarter. Mission Wealth Management LP lifted its holdings in shares of IMAX by 3.6% in the fourth quarter. Mission Wealth Management LP now owns 50,587 shares of the company’s stock valued at $760,000 after purchasing an additional 1,737 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in shares of IMAX in the fourth quarter valued at approximately $33,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of IMAX by 41.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,531 shares of the company’s stock valued at $242,000 after purchasing an additional 3,682 shares in the last quarter. Finally, Jupiter Asset Management Ltd. lifted its holdings in shares of IMAX by 21.8% in the third quarter. Jupiter Asset Management Ltd. now owns 22,031 shares of the company’s stock valued at $426,000 after purchasing an additional 3,945 shares in the last quarter. Institutional investors own 93.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IMAX. Rosenblatt Securities decreased their price target on IMAX from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, February 13th. Barrington Research reissued an “outperform” rating and issued a $24.00 price target on shares of IMAX in a research note on Monday, April 22nd. Wedbush reissued an “outperform” rating and issued a $22.00 price target on shares of IMAX in a research note on Friday, April 26th. StockNews.com cut IMAX from a “buy” rating to a “hold” rating in a research note on Saturday, January 27th. Finally, Benchmark reissued a “buy” rating and issued a $22.00 price target on shares of IMAX in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.57.

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.