Imax Corp (NYSE:IMAX) Director Darren D. Throop sold 3,301 shares of Imax stock in a transaction on Friday, June 7th. The shares were sold at an average price of $20.21, for a total value of $66,713.21. Following the completion of the transaction, the director now owns 8,341 shares of the company’s stock, valued at approximately $168,571.61. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
NYSE IMAX opened at $19.92 on Wednesday. The firm has a market capitalization of $1.24 billion, a PE ratio of 35.57, a PEG ratio of 1.27 and a beta of 1.11. Imax Corp has a 52 week low of $17.55 and a 52 week high of $26.10.
Imax (NYSE:IMAX) last released its earnings results on Friday, April 26th. The company reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.01. The company had revenue of $80.20 million during the quarter, compared to analysts’ expectations of $81.29 million. Imax had a return on equity of 6.31% and a net margin of 6.12%. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period last year, the firm earned $0.21 EPS. Sell-side analysts predict that Imax Corp will post 0.91 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. grew its stake in shares of Imax by 36.8% during the first quarter. Advisor Group Inc. now owns 2,217 shares of the company’s stock worth $51,000 after purchasing an additional 596 shares during the period. Federated Investors Inc. PA grew its stake in shares of Imax by 0.3% during the first quarter. Federated Investors Inc. PA now owns 172,166 shares of the company’s stock worth $3,904,000 after purchasing an additional 597 shares during the period. State Board of Administration of Florida Retirement System grew its stake in shares of Imax by 2.9% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 23,751 shares of the company’s stock worth $447,000 after purchasing an additional 660 shares during the period. Penserra Capital Management LLC grew its stake in shares of Imax by 50.0% during the first quarter. Penserra Capital Management LLC now owns 2,376 shares of the company’s stock worth $53,000 after purchasing an additional 792 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Imax by 7.5% during the fourth quarter. Legal & General Group Plc now owns 21,880 shares of the company’s stock worth $411,000 after purchasing an additional 1,531 shares during the period. 77.84% of the stock is owned by institutional investors.
IMAX has been the subject of several research reports. Wedbush set a $28.00 target price on Imax and gave the company a “buy” rating in a research note on Monday, April 22nd. B. Riley set a $34.00 target price on Imax and gave the company a “buy” rating in a research note on Monday, April 8th. Canaccord Genuity cut Imax from a “buy” rating to a “hold” rating and set a $23.00 target price for the company. in a research note on Monday, February 25th. TheStreet raised Imax from a “c” rating to a “b-” rating in a research note on Friday, April 26th. Finally, MKM Partners lifted their target price on Imax to $28.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $26.83.
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IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company that specializes in motion picture technologies and presentations worldwide. It offers cinematic solution comprising proprietary software, theater architecture, and equipment. The company engages in Digital Re-Mastering (DMR) of films into the IMAX format for exhibition in the IMAX theater network; the provision of IMAX premium theater systems to exhibitor customers through sales, long-term leases, and joint revenue sharing arrangements; the distribution of documentary films; the provision of production technical support and film post-production services; the ownership and operation of IMAX theaters; and the provision of camera and other miscellaneous items rental services.
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