Imax Corp (IMAX) Director Bradley J. Wechsler Sells 12,000 Shares

Imax Corp (NYSE:IMAX) Director Bradley J. Wechsler sold 12,000 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $23.02, for a total transaction of $276,240.00. Following the completion of the sale, the director now directly owns 125,667 shares in the company, valued at approximately $2,892,854.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shares of IMAX opened at $23.35 on Wednesday. The company has a market cap of $1.43 billion, a P/E ratio of 41.70, a PEG ratio of 1.46 and a beta of 1.08. Imax Corp has a 1 year low of $17.55 and a 1 year high of $26.10.

Imax (NYSE:IMAX) last announced its quarterly earnings data on Friday, April 26th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. The business had revenue of $80.20 million for the quarter, compared to the consensus estimate of $81.29 million. Imax had a net margin of 6.12% and a return on equity of 6.31%. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 earnings per share. As a group, research analysts forecast that Imax Corp will post 0.91 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in IMAX. Shapiro Capital Management LLC increased its position in Imax by 6.9% during the fourth quarter. Shapiro Capital Management LLC now owns 5,150,005 shares of the company’s stock worth $96,872,000 after purchasing an additional 330,598 shares during the last quarter. Gamco Investors INC. ET AL increased its position in Imax by 3.1% during the fourth quarter. Gamco Investors INC. ET AL now owns 65,500 shares of the company’s stock worth $1,232,000 after purchasing an additional 2,000 shares during the last quarter. Vanguard Group Inc. increased its position in Imax by 7.1% during the third quarter. Vanguard Group Inc. now owns 331,863 shares of the company’s stock worth $8,562,000 after purchasing an additional 22,010 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Imax by 55.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 860,605 shares of the company’s stock worth $16,188,000 after purchasing an additional 307,948 shares during the last quarter. Finally, QS Investors LLC increased its position in Imax by 8.4% during the fourth quarter. QS Investors LLC now owns 137,977 shares of the company’s stock worth $2,596,000 after purchasing an additional 10,677 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have issued reports on the stock. B. Riley set a $34.00 price target on shares of Imax and gave the company a “buy” rating in a report on Monday. Wedbush set a $28.00 price target on shares of Imax and gave the company a “buy” rating in a report on Monday, April 22nd. MKM Partners upped their price target on shares of Imax to $28.00 and gave the company a “buy” rating in a report on Friday, April 12th. Canaccord Genuity downgraded shares of Imax from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a report on Monday, February 25th. Finally, Barrington Research reaffirmed a “buy” rating and issued a $27.00 price target on shares of Imax in a report on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Imax has an average rating of “Buy” and an average price target of $26.83.

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About Imax

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.

See Also: Diluted Earnings Per Share

Insider Buying and Selling by Quarter for Imax (NYSE:IMAX)

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