Insider Selling: IMAX CEO Sells 53,875 Shares of Stock (IMAX)
IMAX (NASDAQ:IMAX) CEO Richard L. Gelfond sold 53,875 shares of the stock in a transaction dated Thursday, June 19th. The stock was sold at an average price of $28.00, for a total transaction of $1,508,500.00. Following the transaction, the chief executive officer now directly owns 153,123 shares in the company, valued at approximately $4,287,444. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on IMAX. 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 equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. IMAX currently has an average rating of “Hold” and a consensus price target of $30.50.
IMAX (NASDAQ:IMAX) traded up 0.68% during mid-day trading on Thursday, hitting $28.25. 313,123 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 $25.97 and its 200-day moving average is $27.24. The company has a market cap of $1.920 billion and a P/E ratio of 46.30.
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. Analysts expect that IMAX will post $0.90 EPS for the current fiscal year.
IMAX Corporation, together with its wholly owned subsidiaries, is an entertainment technology companies, specializing in motion picture technologies and presentations.
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