Insider Selling: IMAX (NYSE:IMAX) CFO Sells $1,092,600.00 in Stock

IMAX Corporation (NYSE:IMAX) CFO Natasha Fernandes sold 20,000 shares of IMAX stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $54.63, for a total value of $1,092,600.00. Following the sale, the chief financial officer directly owned 35,596 shares in the company, valued at $1,944,609.48. The trade was a 35.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

IMAX Price Performance

IMAX stock opened at $50.47 on Friday. The business has a 50 day moving average of $45.55 and a 200-day moving average of $40.74. IMAX Corporation has a 1 year low of $28.14 and a 1 year high of $55.57. The company has a market capitalization of $2.77 billion, a P/E ratio of 70.10, a P/E/G ratio of 1.66 and a beta of 0.38.

IMAX (NYSE:IMAX) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, beating 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 business had revenue of $102.84 million during the quarter, compared to analyst estimates of $96.09 million. During the same quarter last year, the business earned $0.26 EPS. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. Equities analysts anticipate that IMAX Corporation will post 1.49 EPS for the current year.

Trending Headlines about IMAX

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

Wall Street Analyst Weigh In

IMAX has been the topic of a number of recent research reports. Seaport Research Partners reiterated a “buy” rating and set a $50.00 price target on shares of IMAX in a report on Wednesday, June 24th. Roth Capital increased their price objective on IMAX from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, July 24th. Benchmark reaffirmed a “buy” rating on shares of IMAX in a research report on Monday, June 22nd. Wedbush lifted 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, Rosenblatt Securities reaffirmed a “buy” rating and set a $60.00 target price on shares of IMAX in a report on Wednesday, August 19th. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $52.36.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Orbis Allan Gray Ltd boosted its stake in shares of IMAX by 31.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 5,113,033 shares of the company’s stock valued at $142,960,000 after purchasing an additional 1,230,267 shares during the last quarter. BlackRock Inc. bought a new position in IMAX during the second quarter worth $115,881,000. Westfield Capital Management Co. LP raised its stake in IMAX by 44.6% during the fourth quarter. Westfield Capital Management Co. LP now owns 2,346,486 shares of the company’s stock worth $86,726,000 after buying an additional 723,861 shares during the last quarter. California State Teachers Retirement System lifted its holdings in IMAX by 3,785.1% in the second quarter. California State Teachers Retirement System now owns 2,104,728 shares of the company’s stock valued at $83,894,000 after buying an additional 2,050,554 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in IMAX by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,237,230 shares of the company’s stock valued at $47,026,000 after buying an additional 23,401 shares during the period. Institutional investors and hedge funds own 93.51% of the company’s stock.

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.