IMAX (NYSE:IMAX) Insider Kenneth Ian Weissman Sells 8,000 Shares of Stock

IMAX Corporation (NYSE:IMAX) insider Kenneth Ian Weissman sold 8,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $54.54, for a total transaction of $436,320.00. Following the sale, the insider owned 28,205 shares of the company’s stock, valued at $1,538,300.70. The trade was a 22.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

IMAX Stock Down 2.2%

NYSE:IMAX opened at $52.69 on Thursday. IMAX Corporation has a 12-month low of $27.67 and a 12-month high of $55.57. The firm has a market capitalization of $2.89 billion, a P/E ratio of 73.18, a P/E/G ratio of 1.73 and a beta of 0.38. The stock’s fifty day simple moving average is $45.27 and its 200-day simple moving average is $40.56.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.13. IMAX had a return on equity of 15.47% and a net margin of 9.84%.The business had revenue of $102.84 million during the quarter, compared to the consensus estimate of $96.09 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The firm’s revenue was up 12.2% on a year-over-year basis. As a group, equities research analysts expect that IMAX Corporation will post 1.49 earnings per share for the current year.

Analyst Ratings Changes

IMAX has been the topic of several recent analyst reports. Wedbush lifted their price objective on shares of IMAX from $46.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. upped their target price on shares of IMAX from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Weiss Ratings upgraded shares of IMAX from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Roth Capital lifted their price target on shares of IMAX from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Wall Street Zen cut shares of IMAX from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.36.

Key Stories Impacting IMAX

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: IMAX continues to benefit from strong audience interest in premium screenings, including reported ticket demand in New York and upcoming high-profile releases such as Akira, Dune: Part Three and the limited-run Queen Budapest concert film. These events could support box-office revenue and reinforce the value of IMAX’s format. IMAX ticket demand article Queen Budapest IMAX article
• Positive Sentiment: A new IMAX auditorium is planned for Mann Theatres’ Plymouth location, adding to the company’s theater network and potentially increasing future installation, maintenance and box-office participation revenue. Mann Theatres Plymouth IMAX article
• Positive Sentiment: Management will present at upcoming Bank of America and Goldman Sachs investor conferences in September. The appearances may provide additional detail on theater installations, film demand and growth plans, keeping institutional attention on the stock. IMAX investor conference announcement
• Neutral Sentiment: IMAX recently reached a new one-year high after a rally tied to enthusiasm for its immersive format and expectations that additional theater installations will drive earnings growth. However, the elevated valuation—approximately 73 times earnings—could make the stock sensitive to profit-taking or disappointing guidance. IMAX one-year high article
• Negative Sentiment: Chief Financial Officer Natasha Fernandes sold 20,000 shares for approximately $1.09 million, reducing her direct ownership by nearly 36%. Another insider, Kenneth Ian Weissman, sold 8,000 shares for about $436,000 and reduced his holdings by roughly 22%. Although insider sales do not necessarily indicate weakening fundamentals, the transactions can weigh on sentiment after the stock’s strong run. CFO SEC filing Insider SEC filing
• Negative Sentiment: The planned closure of AMC Kips Bay 15 in New York will remove an IMAX screen, highlighting the risk that theater shutdowns can offset new auditorium openings and reduce the company’s available exhibition footprint. AMC Kips Bay IMAX closure article

Institutional Trading of IMAX

Several hedge funds have recently bought and sold shares of the stock. Orbis Allan Gray Ltd increased its position in shares of IMAX by 31.7% during the second quarter. Orbis Allan Gray Ltd now owns 5,113,033 shares of the company’s stock worth $142,960,000 after acquiring an additional 1,230,267 shares in the last quarter. BlackRock Inc. bought a new stake in IMAX in the 2nd quarter valued at $115,881,000. Westfield Capital Management Co. LP boosted its stake in IMAX by 44.6% in the 4th quarter. Westfield Capital Management Co. LP now owns 2,346,486 shares of the company’s stock worth $86,726,000 after purchasing an additional 723,861 shares during the period. California State Teachers Retirement System boosted its stake in IMAX by 3,785.1% in the 2nd quarter. California State Teachers Retirement System now owns 2,104,728 shares of the company’s stock worth $83,894,000 after purchasing an additional 2,050,554 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in IMAX by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,237,230 shares of the company’s stock worth $47,026,000 after purchasing an additional 23,401 shares in the last quarter. 93.51% of the stock is currently owned by institutional investors and hedge funds.

About IMAX

IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.

Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.