IMAX (NYSE:IMAX) VP Robert Lister Sells 22,500 Shares

IMAX Corporation (NYSE:IMAX) VP Robert Lister sold 22,500 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $51.58, for a total value of $1,160,550.00. Following the completion of the transaction, the vice president directly owned 182,375 shares of the company’s stock, valued at approximately $9,406,902.50. The trade was a 10.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

IMAX Stock Up 1.5%

Shares of NYSE IMAX opened at $52.13 on Friday. IMAX Corporation has a fifty-two week low of $30.74 and a fifty-two week high of $55.57. The firm’s 50-day simple moving average is $47.54 and its 200 day simple moving average is $41.78. The stock has a market cap of $2.86 billion, a P/E ratio of 72.41, a P/E/G ratio of 1.59 and a beta of 0.40.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.13. The business had revenue of $102.84 million during the quarter, compared to the consensus estimate of $96.09 million. IMAX had a net margin of 9.84% and a return on equity of 15.47%. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 earnings per share. On average, sell-side analysts anticipate that IMAX Corporation will post 1.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wedbush raised their price objective on shares of IMAX from $46.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Wells Fargo & Company upped their target price on IMAX from $41.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Friday, July 24th. HC Wainwright reaffirmed a “buy” rating on shares of IMAX in a research note on Friday, July 24th. The Goldman Sachs Group lifted their price target on IMAX from $42.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, September 4th. Finally, Seaport Research Partners reissued a “buy” rating and issued a $50.00 price objective on shares of IMAX in a research note on Wednesday, June 24th. Ten research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.45.

Institutional Investors Weigh In On IMAX

Institutional investors and hedge funds have recently modified their holdings of the stock. CIBC Private Wealth Group LLC acquired a new position in shares of IMAX in the 3rd quarter worth $27,000. Quarry LP lifted its holdings in shares of IMAX by 166.8% during the fourth quarter. Quarry LP now owns 875 shares of the company’s stock valued at $32,000 after purchasing an additional 547 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of IMAX by 2,310.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,157 shares of the company’s stock valued at $38,000 after purchasing an additional 1,109 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its position in shares of IMAX by 863.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,666 shares of the company’s stock valued at $62,000 after purchasing an additional 1,493 shares during the period. Finally, Kestra Advisory Services LLC acquired a new position in shares of IMAX in the 4th quarter valued at $74,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

About IMAX

IMAX Corporation (NYSE: IMAX) is an entertainment technology company that develops and operates premium large-format cinema experiences. Its systems combine specialized projection, immersive sound, large screens and theater design to present feature films, documentaries and other filmed content.

The company provides cinema operators with IMAX projection and sound systems, including its IMAX with Laser technology, as well as theater design, installation and technical support. IMAX also works with filmmakers and studios on content capture, post-production and remastering to optimize movies for its format, including selected 2D and 3D releases.

Founded in 1967, IMAX has expanded from its origins in documentary and institutional film presentations into a global theatrical network.