Investors Purchase Large Volume of Imax Call Options (IMAX)

Imax Corp (NYSE:IMAX) saw unusually large options trading activity on Thursday. Stock traders acquired 3,073 call options on the stock. This is an increase of approximately 1,561% compared to the average volume of 185 call options.

Shares of NYSE IMAX opened at $21.60 on Friday. Imax has a 12 month low of $17.58 and a 12 month high of $33.50. The company has a market cap of $1,408.38, a price-to-earnings ratio of 120.00, a price-to-earnings-growth ratio of 1.71 and a beta of 0.85.

Imax (NYSE:IMAX) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.06). Imax had a net margin of 0.62% and a return on equity of 3.52%. The business had revenue of $125.55 million for the quarter, compared to analyst estimates of $118.80 million. equities research analysts predict that Imax will post 0.56 earnings per share for the current year.



Several analysts have weighed in on IMAX shares. B. Riley boosted their target price on shares of Imax from $35.00 to $37.75 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Wedbush set a $30.00 price objective on shares of Imax and gave the company a “buy” rating in a research note on Monday, January 8th. Barrington Research restated a “buy” rating and set a $30.00 price objective on shares of Imax in a research note on Tuesday, March 20th. Zacks Investment Research cut shares of Imax from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Finally, Roth Capital restated a “neutral” rating and set a $22.50 price objective (down from $25.00) on shares of Imax in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Imax presently has an average rating of “Hold” and a consensus price target of $28.63.

In other Imax news, CFO Patrick Mcclymont sold 2,811 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $20.40, for a total transaction of $57,344.40. Following the sale, the chief financial officer now owns 2,145 shares of the company’s stock, valued at approximately $43,758. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Greg Foster sold 4,889 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $20.40, for a total transaction of $99,735.60. Following the sale, the chief executive officer now directly owns 77,604 shares in the company, valued at approximately $1,583,121.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,131 shares of company stock worth $501,243. 18.90% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of IMAX. American International Group Inc. lifted its stake in shares of Imax by 8.1% in the 3rd quarter. American International Group Inc. now owns 38,684 shares of the company’s stock valued at $876,000 after purchasing an additional 2,892 shares during the period. Legal & General Group Plc lifted its stake in shares of Imax by 25.8% in the 3rd quarter. Legal & General Group Plc now owns 26,561 shares of the company’s stock valued at $601,000 after purchasing an additional 5,452 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Imax by 2,410.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 149,543 shares of the company’s stock valued at $3,454,000 after purchasing an additional 143,587 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Imax by 15.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 785,422 shares of the company’s stock valued at $17,791,000 after purchasing an additional 103,401 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of Imax by 90.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,068,456 shares of the company’s stock valued at $24,201,000 after purchasing an additional 506,705 shares during the period. Hedge funds and other institutional investors own 86.01% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This story was first posted by Dakota Financial News and is the property of of Dakota Financial News. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international trademark and copyright law. The legal version of this story can be accessed at https://dakotafinancialnews.com/2018/04/13/investors-purchase-large-volume-of-imax-call-options-imax.html.

About Imax

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.

Receive News & Ratings for Imax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Imax and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply