Insider Selling: IMAX Co. (NYSE:IMAX) CFO Sells 2,957 Shares of Stock

IMAX Co. (NYSE:IMAX) CFO Natasha Fernandes sold 2,957 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.52, for a total value of $75,462.64. Following the sale, the chief financial officer now directly owns 14,883 shares of the company’s stock, valued at approximately $379,814.16. This trade represents a 16.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

IMAX Stock Performance

Shares of NYSE IMAX opened at $25.84 on Wednesday. IMAX Co. has a 1 year low of $13.20 and a 1 year high of $26.84. The stock’s 50-day simple moving average is $23.16 and its 200-day simple moving average is $20.28. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 58.73, a PEG ratio of 1.68 and a beta of 1.23.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of IMAX by 13.2% in the 1st quarter. Vanguard Group Inc. now owns 584,795 shares of the company’s stock worth $9,456,000 after purchasing an additional 68,155 shares during the last quarter. Victory Capital Management Inc. increased its holdings in IMAX by 33.1% in the second quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock valued at $21,687,000 after buying an additional 321,506 shares during the last quarter. Mizuho Markets Americas LLC raised its stake in IMAX by 47.5% during the third quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company’s stock valued at $7,952,000 after buying an additional 124,811 shares in the last quarter. American Century Companies Inc. lifted its holdings in IMAX by 57.0% during the 2nd quarter. American Century Companies Inc. now owns 120,021 shares of the company’s stock worth $2,013,000 after buying an additional 43,584 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of IMAX by 90.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock worth $9,856,000 after acquiring an additional 279,410 shares in the last quarter. 93.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Barrington Research reiterated an “outperform” rating and set a $24.00 target price on shares of IMAX in a report on Thursday, October 31st. StockNews.com downgraded shares of IMAX from a “buy” rating to a “hold” rating in a research note on Tuesday. Rosenblatt Securities reissued a “buy” rating and issued a $28.00 target price on shares of IMAX in a research note on Thursday, October 31st. Roth Mkm upped their price target on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Wedbush reissued an “outperform” rating on shares of IMAX in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, IMAX presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.22.

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.