IMAX Co. (NYSE:IMAX) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lowered its position in IMAX Co. (NYSE:IMAX) by 6.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 26,161 shares of the company’s stock after selling 1,824 shares during the period. BNP Paribas Financial Markets’ holdings in IMAX were worth $537,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Huntington National Bank purchased a new position in IMAX during the third quarter worth approximately $34,000. Headlands Technologies LLC acquired a new stake in shares of IMAX in the 2nd quarter worth $35,000. nVerses Capital LLC purchased a new position in shares of IMAX during the 3rd quarter worth $70,000. Summit Securities Group LLC acquired a new position in shares of IMAX during the 2nd quarter valued at about $80,000. Finally, US Bancorp DE boosted its position in shares of IMAX by 23.4% during the 3rd quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after acquiring an additional 1,452 shares during the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

IMAX Trading Up 0.7 %

Shares of NYSE IMAX opened at $26.03 on Friday. The stock has a market capitalization of $1.37 billion, a PE ratio of 59.16, a PEG ratio of 1.69 and a beta of 1.23. IMAX Co. has a twelve month low of $13.20 and a twelve month high of $26.84. The stock has a fifty day simple moving average of $23.52 and a 200-day simple moving average of $20.42.

IMAX (NYSE:IMAX) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.12. IMAX had a return on equity of 7.53% and a net margin of 6.74%. The business had revenue of $91.50 million for the quarter, compared to analysts’ expectations of $93.71 million. During the same period last year, the firm earned $0.27 earnings per share. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. On average, equities analysts predict that IMAX Co. will post 0.77 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on IMAX. JPMorgan Chase & Co. lifted their target price on shares of IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Roth Mkm raised their price target on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $28.00 price objective on shares of IMAX in a report on Thursday, October 31st. Wedbush reiterated an “outperform” rating on shares of IMAX in a research report on Wednesday, November 27th. Finally, Benchmark lifted their target price on IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, IMAX currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.11.

Insider Activity at IMAX

In other news, EVP Robert D. Lister sold 55,910 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.50, for a total value of $1,425,705.00. Following the completion of the sale, the executive vice president now directly owns 138,889 shares of the company’s stock, valued at approximately $3,541,669.50. This represents a 28.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Natasha Fernandes sold 2,957 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.52, for a total value of $75,462.64. Following the completion of the transaction, the chief financial officer now directly owns 14,883 shares in the company, valued at approximately $379,814.16. The trade was a 16.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,176 shares of company stock valued at $1,662,110 over the last quarter. 24.08% of the stock is owned by insiders.

IMAX Profile

IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates in two segments, Content Solutions and Technology Products and Services. The company offers IMAX DMR, a proprietary technology that digitally remasters films and other content into IMAX formats for distribution to the IMAX network; IMAX Enhanced that provides end-to-end technology across streaming content and entertainment devices at home; and SSIMWAVE, an AI-driven video quality solutions for media and entertainment companies.