IMAX (NYSE:IMAX) Insider Sells $436,320.00 in Stock

IMAX Corporation (NYSE:IMAX) insider Kenneth Ian Weissman sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $54.54, for a total transaction of $436,320.00. Following the completion of the sale, the insider owned 28,205 shares in the company, valued at $1,538,300.70. The trade was a 22.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

IMAX Trading Down 2.8%

Shares of NYSE IMAX opened at $50.47 on Friday. IMAX Corporation has a 12-month low of $28.14 and a 12-month high of $55.57. The company has a market cap of $2.77 billion, a PE ratio of 70.10, a P/E/G ratio of 1.66 and a beta of 0.38. The stock has a 50 day simple moving average of $45.55 and a 200-day simple moving average of $40.74.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.13. IMAX had a return on equity of 15.47% and a net margin of 9.84%.The company had revenue of $102.84 million during the quarter, compared to analyst estimates of $96.09 million. During the same quarter in the previous year, the firm posted $0.26 EPS. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. Sell-side analysts forecast that IMAX Corporation will post 1.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IMAX. B. Riley Financial increased their target price on shares of IMAX from $52.00 to $61.00 and gave the company a “buy” rating in a research report on Monday. HC Wainwright reiterated a “buy” rating on shares of IMAX in a report on Friday, July 24th. Seaport Research Partners reiterated a “buy” rating and set a $50.00 price objective on shares of IMAX in a research note on Wednesday, June 24th. Wedbush boosted their target price on IMAX from $46.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Finally, Wall Street Zen downgraded IMAX from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Ten equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.36.

Hedge Funds Weigh In On IMAX

Large investors have recently made changes to their positions in the business. CIBC Private Wealth Group LLC acquired a new position in shares of IMAX in the 3rd quarter worth approximately $27,000. Quarry LP lifted its stake in IMAX by 166.8% during the fourth quarter. Quarry LP now owns 875 shares of the company’s stock valued at $32,000 after purchasing an additional 547 shares during the last quarter. Torren Management LLC bought a new stake in IMAX during the fourth quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd boosted its holdings in IMAX by 2,310.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,157 shares of the company’s stock worth $38,000 after buying an additional 1,109 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd grew its position in IMAX by 863.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,666 shares of the company’s stock worth $62,000 after buying an additional 1,493 shares during the last quarter. Institutional investors own 93.51% of the company’s stock.

IMAX News Roundup

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: The Odyssey is returning to IMAX screens in India after being displaced by Toxic, while its London BFI IMAX engagement has been extended. The developments point to strong audience demand and could support premium-format box-office revenue. The Odyssey returns in India The Odyssey London extension
• Positive Sentiment: Netflix’s upcoming Cliff Booth film is set for an IMAX release, adding another high-profile title to the company’s pipeline. A first Japanese IMAX film, Godzilla Minus Zero, is also scheduled for November, potentially broadening international content demand. Netflix IMAX release Godzilla Minus Zero IMAX release
• Positive Sentiment: A theater in Indiana is marking its 30th anniversary with an IMAX laser-projection upgrade, supporting demand for higher-quality systems and potential installation-related revenue. Zacks also characterizes IMAX as a strong momentum stock. IMAX laser upgrade Zacks momentum analysis
• Neutral Sentiment: IMAX says it remains open to a sale, but no major buyers have emerged despite record box-office performance and substantial stock appreciation. The lack of a suitor removes a potential takeover catalyst, while continued independence leaves the company focused on organic growth. CNBC IMAX sale article
• Negative Sentiment: Insider Kenneth Ian Weissman sold 8,000 shares for approximately $436,000, reducing his position by 22.1%. The sale may weigh on sentiment, particularly after the stock’s strong rally, although it does not by itself demonstrate weakening fundamentals. IMAX insider sale

IMAX Company Profile

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.