Natasha Fernandes Sells 20,000 Shares of IMAX (NYSE:IMAX) Stock

Key Points

• IMAX CFO Natasha Fernandes sold 20,000 shares at an average price of $54.63, generating $1.09 million. The sale reduced her ownership by 35.97%, leaving her with 35,596 shares.
• IMAX reported quarterly EPS of $0.43, beating estimates of $0.30, while revenue rose 12.2% year over year to $102.84 million. The stock was recently trading near its 52-week high, with a market capitalization of approximately $2.89 billion.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” from 13 analysts and an average price target of $52.36; institutional investors own 93.51% of the company.

IMAX Corporation (NYSE:IMAX - Get Free Report) CFO Natasha Fernandes sold 20,000 shares of the firm's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $54.63, for a total value of $1,092,600.00. Following the sale, the chief financial officer owned 35,596 shares in the company, valued at approximately $1,944,609.48. The trade was a 35.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

IMAX Price Performance

NYSE IMAX traded down $1.21 on Wednesday, reaching $52.69. The company had a trading volume of 745,830 shares, compared to its average volume of 1,196,576. The firm has a market capitalization of $2.89 billion, a PE ratio of 73.18, a P/E/G ratio of 1.75 and a beta of 0.38. The firm has a 50-day moving average of $45.11 and a 200-day moving average of $40.45. IMAX Corporation has a 1 year low of $27.67 and a 1 year high of $55.57.

IMAX (NYSE:IMAX - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.13. The business had revenue of $102.84 million during the quarter, compared to the consensus estimate of $96.09 million. IMAX had a net margin of 9.84% and a return on equity of 15.47%. The business's quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 earnings per share. As a group, sell-side analysts expect that IMAX Corporation will post 1.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IMAX has been the subject of several recent analyst reports. The Goldman Sachs Group restated a "neutral" rating and set a $42.00 target price on shares of IMAX in a research note on Thursday, July 23rd. Weiss Ratings raised IMAX from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 16th. Wells Fargo & Company raised their price objective on IMAX from $41.00 to $45.00 and gave the company an "equal weight" rating in a research note on Friday, July 24th. HC Wainwright restated a "buy" rating on shares of IMAX in a research note on Friday, July 24th. Finally, Seaport Research Partners restated a "buy" rating and set a $50.00 price objective on shares of IMAX in a report on Wednesday, June 24th. Ten equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.36.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMAX. California State Teachers Retirement System grew its stake in IMAX by 3,785.1% during the 2nd quarter. California State Teachers Retirement System now owns 2,104,728 shares of the company's stock worth $83,894,000 after buying an additional 2,050,554 shares during the last quarter. Nykredit A S acquired a new position in shares of IMAX during the second quarter valued at $105,000. Triumph Capital Management boosted its holdings in shares of IMAX by 3.0% during the second quarter. Triumph Capital Management now owns 17,295 shares of the company's stock valued at $689,000 after acquiring an additional 504 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of IMAX during the second quarter worth about $380,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of IMAX by 5,002.8% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,838 shares of the company's stock worth $5,614,000 after acquiring an additional 138,078 shares during the period. Institutional investors and hedge funds own 93.51% of the company's stock.

Trending Headlines about IMAX

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: Strong film slate and audience demand: “The Odyssey” reportedly helped drive IMAX’s best month ever, while the upcoming IMAX releases of Akira, Dune: Part Three, and the limited-run Queen Budapest concert film provide additional opportunities for premium ticket revenue. IMAX Shares Soar To Record High As The Odyssey Fuels Best Month Ever Queen Budapest Concert Film to Screen in IMAX
• Positive Sentiment: Expansion of the theater network: Mann Theatres plans to add an IMAX auditorium at its Plymouth location, reinforcing the company’s strategy of growing its installed base and recurring exhibitor-related revenue. Mann Theatres Bringing IMAX Auditorium to Plymouth Location
• Positive Sentiment: Evidence of premium-format enthusiasm: Reports of intense demand for IMAX tickets in New York support the company’s pricing power and the appeal of its large-format experience. Inside NYC’s IMAX Ticket Craze
• Neutral Sentiment: Management’s planned presentations at Bank of America and Goldman Sachs investor conferences could provide updates on bookings, installations, and guidance, but offer no immediate financial impact. IMAX to Present at Upcoming Institutional Investor Conferences
• Negative Sentiment: AMC Kips Bay 15 is expected to close by year-end, removing an IMAX screen from New York’s theater network. The isolated loss is modest but highlights exposure to theater closures. AMC Kips Bay 15 Closing

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.

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