Richard Gelfond Sells 151,253 Shares of IMAX (NYSE:IMAX) Stock

IMAX Corporation (NYSE:IMAX) CEO Richard Gelfond sold 151,253 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $51.00, for a total value of $7,713,903.00. Following the completion of the sale, the chief executive officer owned 765,002 shares in the company, valued at $39,015,102. This represents a 16.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

IMAX Stock Performance

IMAX traded down $0.84 during trading hours on Thursday, reaching $52.87. The company’s stock had a trading volume of 1,272,142 shares, compared to its average volume of 1,201,651. IMAX Corporation has a 52 week low of $25.56 and a 52 week high of $54.50. The company’s 50-day moving average is $44.22 and its 200-day moving average is $39.93. The firm has a market cap of $2.90 billion, a PE ratio of 73.43, a price-to-earnings-growth ratio of 1.67 and a beta of 0.38.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.13. IMAX had a net margin of 9.84% and a return on equity of 15.47%. The firm had revenue of $102.84 million during the quarter, compared to analysts’ expectations of $96.09 million. During the same period in the previous year, the business posted $0.26 earnings per share. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. Equities analysts anticipate that IMAX Corporation will post 1.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Benchmark reaffirmed a “buy” rating on shares of IMAX in a report on Monday, June 22nd. Wedbush boosted their price objective on IMAX from $46.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. B. Riley Financial increased their target price on IMAX from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. The Goldman Sachs Group reissued a “neutral” rating and set a $42.00 price target on shares of IMAX in a report on Thursday, July 23rd. Finally, Weiss Ratings upgraded IMAX from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Ten analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, IMAX presently has an average rating of “Moderate Buy” and an average price target of $51.55.

Trending Headlines about IMAX

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: “The Odyssey” is a major success for IMAX. The film has surpassed $1.29 billion globally and is being described as IMAX’s biggest release ever. Nearly 20,000 fans attended IMAX screenings at Odeon, while BFI IMAX reportedly named it the venue’s all-time box-office leader. The performance supports strong premium-format demand and IMAX’s revenue outlook. The Odyssey passes $1.29 billion and becomes IMAX’s biggest release ever
• Positive Sentiment: Demand for “Dune: Part Three” is exceptionally strong. Early 70mm IMAX showings are nearly sold out, presales reportedly overwhelmed booking websites, and scarce tickets are being resold at steep prices. This points to robust upcoming attendance, pricing power and continued interest in IMAX’s large-format experience. Early IMAX 70mm Dune showings nearly sell out
• Positive Sentiment: Analyst support remains constructive. Rosenblatt Securities reaffirmed its “buy” rating and set a $60 price target, implying additional upside from the cited market level. Rosenblatt Securities rating
• Neutral Sentiment: Some 70mm venues experienced projector or mechanical issues during “The Odyssey,” highlighting the limited availability and operational complexity of legacy film projection, although these reports appear localized. San Antonio’s 70mm IMAX projector
• Negative Sentiment: The immediate pressure appears more valuation- and momentum-related than fundamental: IMAX trades near its yearly high after a substantial advance, while its high earnings multiple leaves less room for disappointment. Ticket scarcity and scalping also create publicity risks if consumers cannot access screenings.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC raised its position in shares of IMAX by 47.9% in the first quarter. AQR Capital Management LLC now owns 56,348 shares of the company’s stock valued at $1,485,000 after buying an additional 18,238 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in IMAX by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,486 shares of the company’s stock worth $672,000 after buying an additional 1,091 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in IMAX by 7.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,714 shares of the company’s stock worth $4,208,000 after buying an additional 11,736 shares in the last quarter. Creative Planning increased its stake in IMAX by 84.1% during the 2nd quarter. Creative Planning now owns 16,081 shares of the company’s stock worth $450,000 after acquiring an additional 7,344 shares during the period. Finally, Norges Bank bought a new position in IMAX during the 2nd quarter worth $709,000. 93.51% of the stock is owned by institutional investors.

About IMAX

IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.

Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.