Robert Lister Sells 50,143 Shares of IMAX (NYSE:IMAX) Stock

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

IMAX Stock Up 0.0%

Shares of NYSE:IMAX opened at $34.45 on Friday. The stock has a market cap of $1.85 billion, a PE ratio of 48.51, a PEG ratio of 2.05 and a beta of 0.60. The company’s fifty day moving average is $32.05 and its 200 day moving average is $28.63. IMAX Corporation has a 52 week low of $20.48 and a 52 week high of $35.60.

IMAX (NYSE:IMAX) last announced its quarterly earnings data 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 return on equity of 9.91% and a net margin of 10.47%.The firm had revenue of $106.65 million for the quarter, compared to analysts’ expectations of $102.88 million. During the same period last year, the firm earned $0.35 earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. Sell-side analysts anticipate that IMAX Corporation will post 0.91 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on IMAX shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of IMAX in a research report on Wednesday, October 8th. B. Riley reissued a “buy” rating on shares of IMAX in a research report on Friday, October 10th. The Goldman Sachs Group reissued a “sell” rating on shares of IMAX in a report on Friday, July 25th. Barrington Research reissued an “outperform” rating and issued a $37.00 target price on shares of IMAX in a research note on Thursday, October 23rd. Finally, Benchmark lifted their price target on shares of IMAX from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, July 25th. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.67.

Institutional Trading of IMAX

Hedge funds and other institutional investors have recently modified their holdings of the business. Jupiter Asset Management Ltd. increased its holdings in shares of IMAX by 805.9% during the first quarter. Jupiter Asset Management Ltd. now owns 469,504 shares of the company’s stock valued at $12,371,000 after acquiring an additional 417,677 shares in the last quarter. Nuveen LLC bought a new position in IMAX in the 1st quarter worth about $4,438,000. Ameriprise Financial Inc. grew its position in IMAX by 8.3% during the 1st quarter. Ameriprise Financial Inc. now owns 1,974,068 shares of the company’s stock valued at $52,019,000 after purchasing an additional 150,552 shares during the last quarter. Mizuho Markets Americas LLC increased its stake in IMAX by 19.3% during the 1st quarter. Mizuho Markets Americas LLC now owns 710,489 shares of the company’s stock valued at $18,721,000 after purchasing an additional 114,800 shares in the last quarter. Finally, Northern Trust Corp increased its stake in IMAX by 3.4% during the 1st quarter. Northern Trust Corp now owns 354,233 shares of the company’s stock valued at $9,334,000 after purchasing an additional 11,588 shares in the last quarter. 93.51% of the stock is owned by hedge funds and other institutional investors.

IMAX Company Profile

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.