IMAX Corporation (NYSE:IMAX) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of IMAX Corporation (NYSE:IMAX) have been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $48.00.

Several brokerages have recently commented on IMAX. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $60.00 price objective on shares of IMAX in a research note on Friday. Weiss Ratings raised IMAX from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 8th. Wall Street Zen downgraded IMAX from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Rosenblatt Securities reaffirmed a “buy” rating and set a $47.00 price target on shares of IMAX in a research report on Monday, April 20th. Finally, Seaport Research Partners increased their price target on IMAX from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, April 8th.

Insider Buying and Selling

In related news, insider Kevin Douglas sold 330,200 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $37.82, for a total transaction of $12,488,164.00. Following the completion of the sale, the insider directly owned 3,657,450 shares of the company’s stock, valued at approximately $138,324,759. This trade represents a 8.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard L. Gelfond sold 8,943 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $37.33, for a total value of $333,842.19. Following the sale, the chief executive officer directly owned 765,002 shares of the company’s stock, valued at $28,557,524.66. The trade was a 1.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,054,284 shares of company stock valued at $40,062,532 over the last ninety days. 20.55% of the stock is currently owned by company insiders.

Institutional Trading of IMAX

A number of institutional investors and hedge funds have recently modified their holdings of the business. Aurora Investment Counsel increased its position in shares of IMAX by 0.4% during the third quarter. Aurora Investment Counsel now owns 70,235 shares of the company’s stock valued at $2,300,000 after acquiring an additional 308 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of IMAX by 43.8% during the third quarter. Jones Financial Companies Lllp now owns 1,041 shares of the company’s stock valued at $34,000 after acquiring an additional 317 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of IMAX by 28.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,489 shares of the company’s stock valued at $55,000 after acquiring an additional 332 shares during the last quarter. GAMMA Investing LLC increased its position in shares of IMAX by 22.3% during the fourth quarter. GAMMA Investing LLC now owns 1,874 shares of the company’s stock valued at $69,000 after acquiring an additional 342 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of IMAX by 2.8% during the third quarter. Arizona State Retirement System now owns 13,517 shares of the company’s stock valued at $443,000 after acquiring an additional 364 shares during the last quarter. 93.51% of the stock is owned by hedge funds and other institutional investors.

IMAX Stock Up 15.5%

Shares of IMAX stock opened at $39.14 on Friday. The company has a market cap of $2.15 billion, a PE ratio of 60.21, a price-to-earnings-growth ratio of 1.39 and a beta of 0.37. IMAX has a 52 week low of $24.20 and a 52 week high of $43.16. The business has a 50 day moving average price of $36.79 and a 200-day moving average price of $36.71.

IMAX (NYSE:IMAX) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. The firm had revenue of $81.38 million during the quarter, compared to the consensus estimate of $79.82 million. IMAX had a return on equity of 13.61% and a net margin of 9.08%.The company’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.13 earnings per share. As a group, research analysts anticipate that IMAX will post 1.34 EPS for the current year.

Key Headlines Impacting IMAX

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: IMAX is reportedly exploring a sale, and analysts say the company could draw interest from major entertainment and technology buyers, boosting takeover hopes. IMAX Is Exploring a Sale
• Positive Sentiment: News that IMAX has held early-stage discussions with potential suitors fueled a strong share move, even as reports emphasized that no formal deal process has been launched yet. IMAX is exploring sale, WSJ reports
• Positive Sentiment: Media coverage highlighted IMAX’s appeal as a premium cinema asset that has outperformed a weakening theater industry, reinforcing the idea that a strategic buyer could pay up. IMAX has bucked the trend as the movie-theater business fades
• Neutral Sentiment: Several entertainment outlets also reported the sale chatter and IMAX’s stock surge, but these stories mainly repeated the same early-stage speculation rather than confirming a transaction. Imax Stock Surges on Hollywood Takeover Talk
• Neutral Sentiment: Industry commentary suggested possible buyers could include Apple, Netflix, Amazon, or other media/tech players, but no bidder has been identified and a deal may never happen. Wall Street thinks IMAX is ripe for a sale. Here’s who could buy it

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.