Imax Corp (NYSE:IMAX) Director Darren D. Throop Sells 3,301 Shares

Imax Corp (NYSE:IMAX) Director Darren D. Throop sold 3,301 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $20.21, for a total value of $66,713.21. Following the sale, the director now directly owns 8,341 shares in the company, valued at approximately $168,571.61. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

NYSE:IMAX opened at $19.84 on Tuesday. The company has a market cap of $1.24 billion, a P/E ratio of 35.43, a PEG ratio of 1.27 and a beta of 1.11. Imax Corp has a 52-week low of $17.55 and a 52-week high of $26.10.

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

A number of large investors have recently added to or reduced their stakes in IMAX. Advisor Group Inc. grew its stake in shares of Imax by 36.8% in the 1st quarter. Advisor Group Inc. now owns 2,217 shares of the company’s stock valued at $51,000 after purchasing an additional 596 shares during the last quarter. Federated Investors Inc. PA grew its stake in shares of Imax by 0.3% in the 1st quarter. Federated Investors Inc. PA now owns 172,166 shares of the company’s stock valued at $3,904,000 after purchasing an additional 597 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Imax by 2.9% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 23,751 shares of the company’s stock valued at $447,000 after purchasing an additional 660 shares during the last quarter. Penserra Capital Management LLC grew its stake in shares of Imax by 50.0% in the 1st quarter. Penserra Capital Management LLC now owns 2,376 shares of the company’s stock valued at $53,000 after purchasing an additional 792 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Imax by 7.5% in the fourth quarter. Legal & General Group Plc now owns 21,880 shares of the company’s stock valued at $411,000 after buying an additional 1,531 shares in the last quarter. Hedge funds and other institutional investors own 77.84% of the company’s stock.

Several equities research analysts have recently weighed in on the company. TheStreet lowered Imax from a “b-” rating to a “c” rating in a research report on Thursday, May 23rd. B. Riley set a $34.00 target price on Imax and gave the stock a “buy” rating in a research report on Monday, May 20th. Wedbush set a $28.00 target price on Imax and gave the stock a “buy” rating in a research report on Monday, April 22nd. MKM Partners raised their target price on Imax to $28.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, Barrington Research reissued a “buy” rating and set a $27.00 target price on shares of Imax in a research report on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $26.83.

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Imax Company Profile

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.

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