Imax Corp (NYSE:IMAX) saw some unusual options trading activity on Thursday. Traders purchased 3,073 call options on the company. This represents an increase of 1,561% compared to the typical volume of 185 call options.
IMAX has been the subject of a number of analyst reports. Roth Capital reiterated a “neutral” rating and issued a $22.50 price objective (down previously from $25.00) on shares of Imax in a research report on Wednesday, February 28th. Barrington Research reiterated a “buy” rating and issued a $30.00 price objective on shares of Imax in a research report on Tuesday, March 20th. B. Riley upped their price objective on shares of Imax from $35.00 to $37.75 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Zacks Investment Research downgraded shares of Imax from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Finally, Wedbush set a $30.00 price objective on shares of Imax and gave the stock a “buy” rating in a research report on Monday, January 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Imax presently has a consensus rating of “Hold” and a consensus price target of $28.63.
IMAX opened at $21.60 on Friday. Imax has a twelve month low of $17.58 and a twelve month high of $33.50. The stock has a market cap of $1,408.38, a P/E ratio of 65.76, a P/E/G ratio of 1.71 and a beta of 0.85.
Imax (NYSE:IMAX) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.06). Imax had a return on equity of 3.52% and a net margin of 0.62%. The company had revenue of $125.55 million for the quarter, compared to analyst estimates of $118.80 million. analysts forecast that Imax will post 0.56 earnings per share for the current year.
In related news, insider Robert D. Lister sold 3,518 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $22.95, for a total transaction of $80,738.10. Following the completion of the transaction, the insider now directly owns 38,540 shares in the company, valued at $884,493. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert D. Lister sold 11,874 shares of the business’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $20.40, for a total transaction of $242,229.60. Following the transaction, the insider now owns 41,456 shares of the company’s stock, valued at $845,702.40. The disclosure for this sale can be found here. Insiders have sold 24,131 shares of company stock valued at $501,243 over the last 90 days. 18.90% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Handelsinvest Investeringsforvaltning raised its position in shares of Imax by 28.0% during the 4th quarter. Handelsinvest Investeringsforvaltning now owns 150,000 shares of the company’s stock worth $3,473,000 after purchasing an additional 32,800 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Imax by 98.4% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 56,251 shares of the company’s stock worth $1,274,000 after purchasing an additional 27,893 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Imax during the 4th quarter worth about $521,000. JPMorgan Chase & Co. raised its position in shares of Imax by 2,410.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 149,543 shares of the company’s stock worth $3,454,000 after purchasing an additional 143,587 shares during the last quarter. Finally, Invictus RG acquired a new position in shares of Imax during the 4th quarter worth about $213,000. Hedge funds and other institutional investors own 86.01% of the company’s stock.
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Imax Company Profile
IMAX Corporation is an entertainment technology company. The Company operates through seven segments: IMAX systems; theater system maintenance; joint revenue sharing arrangements; film production and IMAX DMR; film distribution; film post-production, and other. The IMAX systems segment designs, manufactures, sells or leases IMAX theater projection system equipment.