Robert D. Lister Sells 55,910 Shares of IMAX Co. (NYSE:IMAX) Stock

IMAX Co. (NYSE:IMAXGet Free Report) EVP Robert D. Lister sold 55,910 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.50, for a total value of $1,425,705.00. Following the completion of the sale, the executive vice president now directly owns 138,889 shares in the company, valued at $3,541,669.50. This trade represents a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

IMAX Stock Down 1.2 %

IMAX traded down $0.30 during mid-day trading on Monday, reaching $25.55. 561,783 shares of the company traded hands, compared to its average volume of 754,626. The company’s fifty day moving average price is $22.94 and its 200-day moving average price is $20.16. The stock has a market capitalization of $1.35 billion, a P/E ratio of 58.27, a P/E/G ratio of 1.68 and a beta of 1.23. IMAX Co. has a 52-week low of $13.20 and a 52-week high of $26.84.

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

Hedge Funds Weigh In On IMAX

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Roth Mkm lifted their price target on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. StockNews.com downgraded shares of IMAX from a “buy” rating to a “hold” rating in a research note on Friday, November 29th. Rosenblatt Securities reiterated a “buy” rating and set a $28.00 price target on shares of IMAX in a report on Thursday, October 31st. Wedbush restated an “outperform” rating on shares of IMAX in a report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. upped their price objective on IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, IMAX presently has an average rating of “Moderate Buy” and an average target price of $24.22.

View Our Latest Stock Analysis on IMAX

IMAX Company Profile

(Get Free Report)

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.

Further Reading

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