Insider Selling: IMAX Director Sells 2,268 Shares of Stock (IMAX)
IMAX (NASDAQ:IMAX) Director Garth Malcolm Girvan sold 2,268 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $25.95, for a total transaction of $58,854.60. Following the completion of the transaction, the director now directly owns 79,665 shares of the company’s stock, valued at approximately $2,067,307. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of IMAX (NASDAQ:IMAX) traded up 1.50% during mid-day trading on Monday, hitting $26.31. 240,313 shares of the company’s stock traded hands. IMAX has a one year low of $23.50 and a one year high of $31.23. The stock’s 50-day moving average is $25.88 and its 200-day moving average is $27.43. The company has a market cap of $1.788 billion and a P/E ratio of 42.77.
IMAX (NASDAQ:IMAX) last announced its earnings results on Thursday, April 24th. The company reported $0.05 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.07 by $0.02. The company had revenue of $48.20 million for the quarter, compared to the consensus estimate of $50.75 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The company’s quarterly revenue was down 3.4% on a year-over-year basis. On average, analysts predict that IMAX will post $0.90 earnings per share for the current fiscal year.
IMAX has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of IMAX in a research note on Thursday, May 1st. They now have a $27.00 price target on the stock. Analysts at Wedbush reiterated a “neutral” rating on shares of IMAX in a research note on Tuesday, April 22nd. They now have a $28.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $30.50.
IMAX Corporation, together with its wholly owned subsidiaries, is an entertainment technology companies, specializing in motion picture technologies and presentations.
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