IMAX Co. (NYSE:IMAX) Short Interest Update

IMAX Co. (NYSE:IMAX) was the recipient of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 4,490,000 shares, a decline of 5.5% from the November 15th total of 4,750,000 shares. Currently, 10.6% of the shares of the company are short sold. Based on an average daily volume of 648,000 shares, the short-interest ratio is currently 6.9 days.

Insider Buying and Selling at IMAX

In other news, insider Kenneth Ian Weissman sold 6,309 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.51, for a total transaction of $160,942.59. Following the completion of the sale, the insider now owns 25,139 shares in the company, valued at $641,295.89. The trade was a 20.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Natasha Fernandes sold 2,957 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.52, for a total value of $75,462.64. Following the transaction, the chief financial officer now owns 14,883 shares in the company, valued at approximately $379,814.16. This trade represents a 16.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,176 shares of company stock worth $1,662,110 over the last ninety days. Insiders own 24.08% of the company’s stock.

Institutional Trading of IMAX

A number of hedge funds and other institutional investors have recently modified their holdings of IMAX. Huntington National Bank acquired a new stake in shares of IMAX during the 3rd quarter valued at $34,000. Headlands Technologies LLC bought a new position in IMAX in the second quarter valued at about $35,000. Quarry LP boosted its stake in shares of IMAX by 78,333.3% during the third quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after purchasing an additional 2,350 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of IMAX during the third quarter worth about $70,000. Finally, Summit Securities Group LLC acquired a new position in shares of IMAX in the second quarter valued at approximately $80,000. Institutional investors own 93.51% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IMAX. Roth Mkm boosted their target price on shares of IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price objective on shares of IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Rosenblatt Securities reaffirmed a “buy” rating and set a $28.00 target price on shares of IMAX in a report on Thursday, October 31st. Wedbush reiterated an “outperform” rating on shares of IMAX in a research report on Wednesday, November 27th. Finally, Benchmark increased their price target on IMAX from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, IMAX presently has an average rating of “Moderate Buy” and a consensus price target of $25.11.

IMAX Stock Up 0.5 %

Shares of IMAX stock opened at $25.31 on Wednesday. IMAX has a twelve month low of $13.20 and a twelve month high of $26.84. The business has a fifty day simple moving average of $23.75 and a 200 day simple moving average of $20.60. The company has a market cap of $1.33 billion, a P/E ratio of 57.52, a P/E/G ratio of 1.69 and a beta of 1.23.

IMAX (NYSE:IMAX) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. The company had revenue of $91.50 million for the quarter, compared to the consensus estimate of $93.71 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The firm’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same period last year, the company posted $0.27 EPS. As a group, equities research analysts anticipate that IMAX will post 0.77 earnings per share for the current fiscal year.

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.