IMAX Co. (NYSE:IMAX) Insider Megan Colligan Sells 10,916 Shares

IMAX Co. (NYSE:IMAX) insider Megan Colligan sold 10,916 shares of the business’s stock in a transaction that occurred on Tuesday, June 8th. The stock was sold at an average price of $23.29, for a total transaction of $254,233.64. Following the sale, the insider now directly owns 39,096 shares of the company’s stock, valued at $910,545.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

NYSE IMAX opened at $22.55 on Friday. The firm’s 50 day moving average is $21.44. The company has a market cap of $1.34 billion, a P/E ratio of -12.19 and a beta of 1.82. IMAX Co. has a fifty-two week low of $10.31 and a fifty-two week high of $25.05.

IMAX (NYSE:IMAX) last released its quarterly earnings results on Thursday, April 29th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.05. IMAX had a negative return on equity of 25.42% and a negative net margin of 77.57%. The company had revenue of $38.75 million during the quarter, compared to analysts’ expectations of $39.87 million. As a group, equities analysts forecast that IMAX Co. will post -0.76 earnings per share for the current fiscal year.

IMAX has been the topic of a number of research reports. B. Riley restated a “buy” rating and issued a $28.00 price target on shares of IMAX in a report on Tuesday, March 16th. Barrington Research lifted their target price on IMAX from $25.00 to $27.00 in a research report on Tuesday, March 9th. Zacks Investment Research upgraded IMAX from a “sell” rating to a “hold” rating and set a $22.00 target price on the stock in a report on Monday, May 3rd. Wedbush raised IMAX from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $22.00 to $26.00 in a research note on Thursday, April 29th. Finally, The Goldman Sachs Group lowered IMAX from a “neutral” rating to a “sell” rating and lowered their price target for the company from $19.60 to $18.60 in a research report on Wednesday, June 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $24.01.

A number of large investors have recently bought and sold shares of IMAX. Diametric Capital LP acquired a new position in IMAX during the first quarter worth $2,373,000. Squarepoint Ops LLC acquired a new position in shares of IMAX during the first quarter worth about $309,000. TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new stake in shares of IMAX in the 1st quarter valued at approximately $1,385,000. Voloridge Investment Management LLC boosted its holdings in IMAX by 646.6% during the first quarter. Voloridge Investment Management LLC now owns 122,016 shares of the company’s stock worth $2,453,000 after buying an additional 105,674 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of IMAX by 127.7% in the 1st quarter. D. E. Shaw & Co. Inc. now owns 269,299 shares of the company’s stock worth $5,413,000 after acquiring an additional 151,021 shares during the period. Institutional investors own 72.91% of the company’s stock.

About IMAX

IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company worldwide. It offers cinematic solution comprising proprietary software, theater architecture, intellectual property, and specialized equipment. The company offers IMAX Digital Re-Mastering (DMR), a proprietary technology that digitally enhances the image resolution, visual clarity, and sound quality of motion picture films for projection on IMAX screens; IMAX theater systems to exhibitor customers through sales, leases, and joint revenue sharing arrangements; digital projection systems; a digital theater control systems; and a digital audio systems.

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