Imax Corporation (IMAX) CEO Sells $85,477.02 in Stock
Imax Corporation (NYSE:IMAX) CEO Greg Foster sold 3,566 shares of the business’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $23.97, for a total transaction of $85,477.02. Following the completion of the sale, the chief executive officer now owns 74,696 shares of the company’s stock, valued at $1,790,463.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Imax Corporation (IMAX) traded up $0.35 during trading on Friday, reaching $24.70. 544,500 shares of the company’s stock traded hands, compared to its average volume of 1,095,051. The company has a market cap of $1,576.78, a price-to-earnings ratio of 101.46, a PEG ratio of 3.61 and a beta of 1.13. Imax Corporation has a 12-month low of $17.58 and a 12-month high of $34.60.
Imax (NYSE:IMAX) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.07. The firm had revenue of $98.80 million for the quarter, compared to analyst estimates of $86.17 million. Imax had a net margin of 1.78% and a return on equity of 2.62%. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.12 EPS. analysts expect that Imax Corporation will post 0.3 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on the stock. Barrington Research upgraded shares of Imax from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a research note on Monday, October 30th. B. Riley reiterated a “buy” rating and set a $35.00 target price on shares of Imax in a research note on Monday. Zacks Investment Research upgraded shares of Imax from a “sell” rating to a “strong-buy” rating and set a $28.00 target price for the company in a research note on Wednesday, November 1st. J P Morgan Chase & Co upgraded shares of Imax from a “neutral” rating to an “overweight” rating in a research note on Friday, October 27th. Finally, Wedbush reiterated a “buy” rating and set a $31.00 target price on shares of Imax in a research note on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $31.00.
Institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA increased its holdings in Imax by 1,151.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,818 shares of the company’s stock valued at $150,000 after buying an additional 6,273 shares during the period. Seven Eight Capital LP increased its holdings in Imax by 1,115.7% in the 2nd quarter. Seven Eight Capital LP now owns 7,294 shares of the company’s stock valued at $160,000 after buying an additional 6,694 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Imax by 13.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,522 shares of the company’s stock valued at $181,000 after buying an additional 748 shares during the period. Aperio Group LLC bought a new stake in Imax in the 2nd quarter valued at $205,000. Finally, Formula Growth Ltd. bought a new stake in Imax in the 3rd quarter valued at $222,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.
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Imax Company Profile
IMAX Corporation is an entertainment technology company. The Company operates through seven segments: IMAX systems; theater system maintenance; joint revenue sharing arrangements; film production and IMAX DMR; film distribution; film post-production, and other. The IMAX systems segment designs, manufactures, sells or leases IMAX theater projection system equipment.
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