Giovanni Dolci Sells 6,188 Shares of IMAX (NYSE:IMAX) Stock

IMAX Corporation (NYSE:IMAX) EVP Giovanni Dolci sold 6,188 shares of the business’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $34.25, for a total value of $211,939.00. Following the sale, the executive vice president owned 33,000 shares of the company’s stock, valued at approximately $1,130,250. The trade was a 15.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

IMAX Stock Performance

NYSE:IMAX traded up $1.15 on Monday, hitting $35.63. 1,473,365 shares of the stock were exchanged, compared to its average volume of 979,996. IMAX Corporation has a 52 week low of $20.48 and a 52 week high of $35.66. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 50.18, a P/E/G ratio of 2.05 and a beta of 0.60. The company’s 50-day moving average price is $32.05 and its 200 day moving average price is $28.67.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.31 by $0.16. IMAX had a net margin of 10.47% and a return on equity of 9.91%. The company had revenue of $106.65 million during the quarter, compared to analysts’ expectations of $102.88 million. During the same quarter in the previous year, the company earned $0.35 EPS. IMAX’s revenue was up 16.6% on a year-over-year basis. As a group, equities research analysts predict that IMAX Corporation will post 0.91 earnings per share for the current year.

Institutional Investors Weigh In On IMAX

Several institutional investors have recently added to or reduced their stakes in IMAX. Principal Financial Group Inc. lifted its position in IMAX by 4.4% during the 1st quarter. Principal Financial Group Inc. now owns 108,550 shares of the company’s stock worth $2,860,000 after buying an additional 4,604 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of IMAX in the 1st quarter valued at about $202,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of IMAX by 22.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,179 shares of the company’s stock valued at $453,000 after acquiring an additional 3,168 shares during the last quarter. XTX Topco Ltd raised its holdings in IMAX by 35.6% during the first quarter. XTX Topco Ltd now owns 22,699 shares of the company’s stock worth $598,000 after acquiring an additional 5,963 shares in the last quarter. Finally, US Bancorp DE raised its holdings in IMAX by 33.1% during the first quarter. US Bancorp DE now owns 16,338 shares of the company’s stock worth $431,000 after acquiring an additional 4,062 shares in the last quarter. 93.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. B. Riley reiterated a “buy” rating on shares of IMAX in a report on Friday, October 10th. JPMorgan Chase & Co. lifted their price objective on shares of IMAX from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Wall Street Zen raised shares of IMAX from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Wedbush increased their target price on shares of IMAX from $35.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Finally, The Goldman Sachs Group reissued a “sell” rating on shares of IMAX in a research report on Friday, July 25th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $36.67.

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.