IMAX (NYSE:IMAX) CEO Richard Gelfond Sells 12,987 Shares

IMAX Corporation (NYSE:IMAX) CEO Richard Gelfond sold 12,987 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $40.26, for a total transaction of $522,856.62. Following the transaction, the chief executive officer owned 765,002 shares of the company’s stock, valued at $30,798,980.52. The trade was a 1.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

IMAX Stock Performance

Shares of NYSE IMAX opened at $39.32 on Tuesday. The stock has a 50 day moving average price of $37.88 and a 200 day moving average price of $35.91. IMAX Corporation has a 52 week low of $20.48 and a 52 week high of $43.16. The stock has a market capitalization of $2.12 billion, a PE ratio of 63.42, a price-to-earnings-growth ratio of 1.89 and a beta of 0.41.

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

Wall Street Analyst Weigh In

A number of analysts have commented on IMAX shares. Wall Street Zen cut shares of IMAX from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. B. Riley Financial reiterated a “buy” rating on shares of IMAX in a research note on Monday, December 8th. JPMorgan Chase & Co. increased their price target on shares of IMAX from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Macquarie Infrastructure increased their price target on shares of IMAX from $39.00 to $44.00 and gave the company an “outperform” rating in a research note on Thursday, January 15th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $42.00 price objective on shares of IMAX in a research report on Monday, December 8th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, IMAX has an average rating of “Moderate Buy” and a consensus target price of $43.70.

Key IMAX News

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.

Institutional Trading of IMAX

Several hedge funds and other institutional investors have recently modified their holdings of IMAX. CIBC Private Wealth Group LLC bought a new stake in shares of IMAX during the 3rd quarter worth about $27,000. Quarry LP boosted its holdings in shares of IMAX by 166.8% during the 4th quarter. Quarry LP now owns 875 shares of the company’s stock worth $32,000 after buying an additional 547 shares during the period. First Horizon Corp bought a new stake in shares of IMAX during the 3rd quarter worth about $34,000. Jones Financial Companies Lllp boosted its holdings in shares of IMAX by 43.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,041 shares of the company’s stock worth $34,000 after buying an additional 317 shares during the period. Finally, Clearstead Advisors LLC acquired a new stake in IMAX during the 3rd quarter worth approximately $35,000. Institutional investors own 93.51% of the company’s stock.

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.