Robert Lister Sells 22,500 Shares of IMAX (NYSE:IMAX) Stock

IMAX Corporation (NYSE:IMAX) VP Robert Lister sold 22,500 shares of the firm’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $51.58, for a total transaction of $1,160,550.00. Following the completion of the sale, the vice president owned 182,375 shares of the company’s stock, valued at $9,406,902.50. This trade represents a 10.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

IMAX Stock Up 1.5%

Shares of NYSE:IMAX opened at $52.13 on Friday. IMAX Corporation has a fifty-two week low of $30.74 and a fifty-two week high of $55.57. The firm’s 50-day simple moving average is $47.54 and its 200-day simple moving average is $41.78. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 72.41, a PEG ratio of 1.61 and a beta of 0.40.

IMAX (NYSE:IMAX) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.13. IMAX had a net margin of 9.84% and a return on equity of 15.47%. The firm had revenue of $102.84 million during the quarter, compared to analysts’ expectations of $96.09 million. During the same period in the prior year, the company posted $0.26 earnings per share. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, research analysts forecast that IMAX Corporation will post 1.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on IMAX shares. B. Riley Financial lifted their price target on IMAX from $52.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, August 24th. Wall Street Zen upgraded IMAX from a “hold” rating to a “buy” rating in a research report on Saturday, September 5th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $60.00 target price on shares of IMAX in a report on Friday, May 22nd. Seaport Research Partners reissued a “buy” rating and issued a $50.00 target price on shares of IMAX in a report on Wednesday, June 24th. Finally, Weiss Ratings upgraded shares of IMAX from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Ten research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, IMAX currently has an average rating of “Moderate Buy” and a consensus target price of $54.45.

Hedge Funds Weigh In On IMAX

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Engineers Gate Manager LP boosted its position in shares of IMAX by 227.7% in the 2nd quarter. Engineers Gate Manager LP now owns 29,205 shares of the company’s stock worth $1,164,000 after buying an additional 20,293 shares in the last quarter. Nykredit A S purchased a new stake in IMAX in the 2nd quarter worth approximately $105,000. California State Teachers Retirement System grew its position in shares of 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 purchasing an additional 2,050,554 shares during the period. Triumph Capital Management increased its stake in shares of IMAX by 3.0% during the 2nd quarter. Triumph Capital Management now owns 17,295 shares of the company’s stock valued at $689,000 after acquiring an additional 504 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in IMAX during the second quarter worth approximately $380,000. 93.51% of the stock is owned by institutional investors and hedge funds.

IMAX Company Profile

IMAX Corporation (NYSE: IMAX) is an entertainment technology company that develops and operates premium large-format cinema experiences. Its systems combine specialized projection, immersive sound, large screens and theater design to present feature films, documentaries and other filmed content.

The company provides cinema operators with IMAX projection and sound systems, including its IMAX with Laser technology, as well as theater design, installation and technical support. IMAX also works with filmmakers and studios on content capture, post-production and remastering to optimize movies for its format, including selected 2D and 3D releases.

Founded in 1967, IMAX has expanded from its origins in documentary and institutional film presentations into a global theatrical network.