IMAX (NYSE:IMAX) CEO Sells $1,266,784.92 in Stock

IMAX Corporation (NYSE:IMAX) CEO Richard Gelfond sold 34,182 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $37.06, for a total transaction of $1,266,784.92. Following the sale, the chief executive officer owned 765,002 shares of the company’s stock, valued at approximately $28,350,974.12. This represents a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

IMAX Stock Performance

NYSE:IMAX opened at $36.21 on Thursday. The firm has a market cap of $1.95 billion, a P/E ratio of 58.40, a P/E/G ratio of 1.63 and a beta of 0.41. IMAX Corporation has a fifty-two week low of $22.54 and a fifty-two week high of $43.16. The firm has a 50-day simple moving average of $38.19 and a two-hundred day simple moving average of $36.25.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.15. The business had revenue of $125.21 million during the quarter, compared to analyst estimates of $120.30 million. IMAX had a net margin of 8.50% and a return on equity of 13.53%. IMAX’s revenue was up 35.1% compared to the same quarter last year. During the same period last year, the business earned $0.27 EPS. On average, equities research analysts predict that IMAX Corporation will post 1.31 EPS for the current year.

Trending Headlines about IMAX

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: A24’s high?profile adaptation of the videogame Elden Ring is confirmed for IMAX release in 2028 — a franchise title that can drive premium ticketing, theater bookings and recurring studio partnerships. Read More.
• Positive Sentiment: Star Wars/Disney content is using IMAX presentation for promotional events (new Mandalorian/Grogu IMAX previews), reinforcing IMAX’s role in premium exhibition and marketing for tentpole franchises. Read More.
• Positive Sentiment: Sell?side support: Rosenblatt issued a Buy on IMAX, signaling analyst confidence and providing a near?term positive narrative for investors. Read More.
• Neutral Sentiment: Industry attention: IMAX is frequently highlighted in sector roundups (Zacks, others), keeping it on analysts’ radar but not implying immediate upside alone. Read More.
• Negative Sentiment: Competitive risk: Disney’s launch of its own large?screen format (Infinity Vision) and reports of studios allocating premium runs strategically (eg. Dune 3 vs Avengers) create a potential longer?term threat to IMAX’s premium screen share. Read More.
• Negative Sentiment: Insider selling: CEO Richard Gelfond sold shares under a pre?arranged 10b5?1 plan (disclosed sales totaling tens of thousands of shares across filings). While routine, the sales can press sentiment short term. Read More.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of IMAX in a research note on Monday, December 29th. Rosenblatt Securities restated a “buy” rating and set a $47.00 price objective on shares of IMAX in a research note on Monday. Barrington Research restated an “outperform” rating and set a $42.00 price objective on shares of IMAX in a research note on Monday, January 26th. Macquarie Infrastructure raised their price objective on shares of IMAX from $39.00 to $44.00 and gave the company an “outperform” rating in a research note on Thursday, January 15th. Finally, The Goldman Sachs Group lifted their price target on shares of IMAX from $37.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.70.

Institutional Trading of IMAX

A number of large investors have recently made changes to their positions in IMAX. Westfield Capital Management Co. LP bought a new stake in shares of IMAX in the third quarter worth approximately $53,141,000. Orbis Allan Gray Ltd grew its stake in shares of IMAX by 31.7% in the second quarter. Orbis Allan Gray Ltd now owns 5,113,033 shares of the company’s stock worth $142,960,000 after acquiring an additional 1,230,267 shares during the period. Divisadero Street Capital Management LP bought a new stake in shares of IMAX in the third quarter worth approximately $20,975,000. Marsico Capital Management LLC bought a new stake in shares of IMAX in the fourth quarter worth approximately $18,149,000. Finally, Balyasny Asset Management L.P. bought a new stake in shares of IMAX in the second quarter worth approximately $12,568,000. 93.51% of the stock is currently owned by institutional investors.

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.