IMAX (NYSE:IMAX) CEO Richard Gelfond Sells 12,037 Shares of Stock

IMAX Corporation (NYSE:IMAX) CEO Richard Gelfond sold 12,037 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $40.00, for a total transaction of $481,480.00. Following the sale, the chief executive officer directly owned 765,002 shares in the company, valued at approximately $30,600,080. The trade was a 1.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

IMAX Stock Performance

IMAX opened at $39.32 on Tuesday. The business’s 50-day simple moving average is $37.88 and its 200-day simple moving average is $35.91. IMAX Corporation has a one year low of $20.48 and a one year high of $43.16. The stock has a market capitalization of $2.12 billion, a P/E ratio of 63.42, a price-to-earnings-growth ratio of 1.89 and a beta of 0.41.

IMAX (NYSE:IMAX) last posted its earnings results on Wednesday, February 25th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.15. IMAX had a return on equity of 13.53% and a net margin of 8.50%.The business had revenue of $125.21 million for the quarter, compared to analysts’ expectations of $120.30 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The business’s revenue was up 35.1% compared to the same quarter last year. On average, equities research analysts forecast that IMAX Corporation will post 0.91 EPS for the current fiscal year.

Key Stories Impacting IMAX

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: Early sales and 70mm screenings for Dune: Part Three are driving strong demand for IMAX premium formats — multiple outlets report IMAX 70mm shows selling out quickly and heavy consumer interest, a sign of potentially higher per-ticket revenue and stronger box-office contribution to IMAX results. Read More.
• Positive Sentiment: Multiple reports note instant sell-outs and high resale prices for IMAX 70mm screenings (including early shows months ahead of release), indicating scarcity and willingness-to-pay that could lift IMAX’s premium pricing and concession-linked economics on opening weekends. Read More.
• Neutral Sentiment: Analyst commentary highlights IMAX’s long-term growth profile tied to global premium-screen expansion and box-office rebounds; useful context for investors but not an immediate catalyst. Read More.
• Negative Sentiment: CEO Richard Gelfond sold ~25,000 shares across recent trades under a pre-arranged Rule 10b5-1 plan (~$40/share), reducing his ownership modestly; insider sales can create near-term investor concern even when executed under a trading plan. Read More.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on IMAX shares. Barrington Research reaffirmed an “outperform” rating and issued a $42.00 target price on shares of IMAX in a report on Monday, January 26th. Wedbush reaffirmed an “outperform” rating and issued a $46.00 target price on shares of IMAX in a report on Monday, February 23rd. JPMorgan Chase & Co. lifted their target price on shares of IMAX from $47.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Wall Street Zen cut shares of IMAX from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Finally, Wells Fargo & Company boosted their price target on IMAX from $40.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.70.

Hedge Funds Weigh In On IMAX

Several institutional investors have recently bought and sold shares of IMAX. AQR Capital Management LLC increased its stake in IMAX by 47.9% in the 1st quarter. AQR Capital Management LLC now owns 56,348 shares of the company’s stock valued at $1,485,000 after buying an additional 18,238 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in IMAX by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,486 shares of the company’s stock valued at $672,000 after buying an additional 1,091 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in IMAX by 7.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,714 shares of the company’s stock valued at $4,208,000 after buying an additional 11,736 shares during the period. Creative Planning increased its stake in IMAX by 84.1% in the 2nd quarter. Creative Planning now owns 16,081 shares of the company’s stock valued at $450,000 after buying an additional 7,344 shares during the period. Finally, Legal & General Group Plc increased its stake in IMAX by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 50,969 shares of the company’s stock valued at $1,425,000 after buying an additional 756 shares during the period. 93.51% of the stock is owned by institutional investors and hedge funds.

IMAX Company Profile

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.