Insider Selling: IMAX Co. (NYSE:IMAX) EVP Sells $104,516.50 in Stock

IMAX Co. (NYSE:IMAX) EVP Calamera Pablo sold 6,130 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $17.05, for a total transaction of $104,516.50. Following the sale, the executive vice president now directly owns 42,269 shares of the company’s stock, valued at $720,686.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

IMAX Trading Up 1.1 %

Shares of IMAX stock opened at $16.19 on Thursday. The company’s fifty day simple moving average is $16.46 and its 200-day simple moving average is $16.02. The company has a market cap of $851.92 million, a price-to-earnings ratio of 33.73, a PEG ratio of 1.50 and a beta of 1.25. IMAX Co. has a 1 year low of $13.20 and a 1 year high of $20.98.

IMAX (NYSE:IMAX) last issued its earnings results on Thursday, April 25th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.03 by $0.05. The firm had revenue of $79.12 million during the quarter, compared to analysts’ expectations of $77.88 million. IMAX had a return on equity of 9.47% and a net margin of 7.13%. As a group, research analysts forecast that IMAX Co. will post 0.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on IMAX shares. Wedbush reaffirmed an “outperform” rating and set a $22.00 price objective on shares of IMAX in a research note on Friday, April 26th. The Goldman Sachs Group reduced their price target on shares of IMAX from $15.00 to $13.00 and set a “sell” rating for the company in a research report on Thursday, January 11th. Barrington Research reissued an “outperform” rating and issued a $24.00 price target on shares of IMAX in a research report on Monday, April 22nd. Rosenblatt Securities dropped their price objective on IMAX from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, February 13th. Finally, StockNews.com downgraded IMAX from a “buy” rating to a “hold” rating in a report on Saturday, January 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, IMAX currently has an average rating of “Moderate Buy” and an average target price of $20.57.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC lifted its position in IMAX by 28.0% in the first quarter. Janney Montgomery Scott LLC now owns 33,011 shares of the company’s stock worth $534,000 after purchasing an additional 7,226 shares during the period. Principal Financial Group Inc. bought a new position in shares of IMAX during the first quarter valued at $871,000. Equitable Trust Co. lifted its holdings in shares of IMAX by 12.3% during the first quarter. Equitable Trust Co. now owns 40,710 shares of the company’s stock valued at $658,000 after acquiring an additional 4,455 shares during the period. Hedges Asset Management LLC bought a new position in shares of IMAX during the first quarter valued at $1,344,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of IMAX during the first quarter valued at $222,000. 93.51% of the stock is owned by institutional investors.

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.