Kenneth Ian Weissman Sells 6,309 Shares of IMAX Co. (NYSE:IMAX) Stock

IMAX Co. (NYSE:IMAX) insider Kenneth Ian Weissman sold 6,309 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.51, for a total value of $160,942.59. Following the completion of the sale, the insider now owns 25,139 shares in the company, valued at approximately $641,295.89. This represents a 20.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

IMAX Stock Down 1.2 %

IMAX stock traded down $0.30 during mid-day trading on Monday, hitting $25.55. The company’s stock had a trading volume of 561,783 shares, compared to its average volume of 754,626. IMAX Co. has a twelve month low of $13.20 and a twelve month high of $26.84. The stock’s fifty day moving average price is $22.94 and its two-hundred day moving average price is $20.16. The stock has a market capitalization of $1.35 billion, a P/E ratio of 58.07, a P/E/G 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, topping 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 previous year, the firm earned $0.27 earnings per share. IMAX’s revenue for the quarter was down 11.9% compared to the same quarter last year. Equities analysts expect that IMAX Co. will post 0.77 earnings per share for the current year.

Wall Street Analyst Weigh In

IMAX has been the subject of several recent analyst reports. Wedbush reissued an “outperform” rating on shares of IMAX in a research note on Wednesday, November 27th. Barrington Research reiterated an “outperform” rating and issued a $24.00 target price on shares of IMAX in a research report on Thursday, October 31st. Rosenblatt Securities restated a “buy” rating and set a $28.00 price target on shares of IMAX in a research report on Thursday, October 31st. Roth Mkm raised their price objective on shares of IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, StockNews.com downgraded IMAX from a “buy” rating to a “hold” rating in a research report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, IMAX presently has a consensus rating of “Moderate Buy” and an average target price of $24.22.

Institutional Trading of IMAX

A number of hedge funds have recently bought and sold shares of the company. Huntington National Bank acquired a new stake in shares of IMAX during the third quarter valued at approximately $34,000. Headlands Technologies LLC acquired a new position in IMAX in the 2nd quarter worth approximately $35,000. Quarry LP grew its position in IMAX by 78,333.3% during 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 acquired a new stake in IMAX during the 3rd quarter valued at $70,000. Finally, Summit Securities Group LLC purchased a new stake in shares of IMAX in the second quarter valued at $80,000. 93.51% of the stock is owned by hedge funds and other institutional investors.

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.