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

IMAX Co. (NYSE:IMAX) insider Megan Colligan sold 10,916 shares of the company’s stock in a transaction dated Tuesday, June 8th. The stock was sold at an average price of $23.29, for a total value of $254,233.64. Following the completion of the transaction, the insider now directly owns 39,096 shares of the company’s stock, valued at approximately $910,545.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of IMAX stock traded down $0.68 on Thursday, hitting $22.55. 793,830 shares of the company’s stock traded hands, compared to its average volume of 956,372. IMAX Co. has a one year low of $10.31 and a one year high of $25.05. The firm’s fifty day moving average price is $21.41. The company has a market cap of $1.34 billion, a P/E ratio of -12.19 and a beta of 1.82.

IMAX (NYSE:IMAX) last announced its earnings results on Thursday, April 29th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.05. IMAX had a negative return on equity of 25.42% and a negative net margin of 77.57%. Equities research analysts expect that IMAX Co. will post -0.76 earnings per share for the current fiscal year.

IMAX has been the subject of a number of recent research reports. Zacks Investment Research raised IMAX from a “sell” rating to a “hold” rating and set a $22.00 target price for the company in a report on Monday, May 3rd. Barrington Research upped their target price on IMAX from $25.00 to $27.00 in a report on Tuesday, March 9th. Macquarie upped their price target on IMAX from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, April 30th. Wedbush upgraded IMAX from a “neutral” rating to an “outperform” rating and upped their price target for the company from $22.00 to $26.00 in a research report on Thursday, April 29th. Finally, Benchmark upped their price target on IMAX from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, May 24th. 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 stock. The stock has an average rating of “Buy” and a consensus target price of $24.01.

Several institutional investors have recently made changes to their positions in IMAX. Bank of New York Mellon Corp boosted its holdings in IMAX by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 928,777 shares of the company’s stock worth $16,737,000 after acquiring an additional 13,386 shares in the last quarter. Gamco Investors INC. ET AL bought a new position in IMAX in the fourth quarter worth approximately $1,182,000. US Bancorp DE boosted its holdings in IMAX by 57.5% in the fourth quarter. US Bancorp DE now owns 2,163 shares of the company’s stock worth $39,000 after acquiring an additional 790 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in IMAX by 1,370.0% in the fourth quarter. Alliancebernstein L.P. now owns 1,115,728 shares of the company’s stock worth $20,105,000 after acquiring an additional 1,039,828 shares in the last quarter. Finally, Mission Wealth Management LP boosted its holdings in IMAX by 2.9% in the first quarter. Mission Wealth Management LP now owns 33,756 shares of the company’s stock worth $678,000 after acquiring an additional 943 shares in the last quarter. 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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