Imax Corporation (IMAX) Sets New 1-Year Low Following Insider Selling
Imax Corporation (IMAX) Sets New 1-Year Low Following Insider Selling
14 Agosto, 2017, 00:20
Here is the rundown on market activity for Imax Corporation (NYSE:IMAX).
Other large investors have also bought and sold shares of the company. Sei Investments Co. boosted its stake in Imax Corporation by 25.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 22,008 shares of the company's stock worth $691,000 after buying an additional 190 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in Imax Corporation during the first quarter worth $331,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Imax Corporation by 78.9% in the first quarter. Trillium Asset Management LLC now owns 60,760 shares of the company's stock worth $2,066,000 after buying an additional 1,616 shares in the last quarter. Canaccord Genuity set a $33.00 price target on shares of Imax Corporation and gave the company a "buy" rating in a research report on Thursday, June 8th. Finally, B. Riley Financial Inc. raised its stake in Imax Corporation by 81.1% in the first quarter. American International Group Inc. now owns 35,583 shares of the company's stock worth $1,210,000 after buying an additional 1,701 shares during the last quarter.
The stock of Imax Corporation (NYSE:IMAX) registered a decrease of 14.73% in short interest.
Imax Corporation (NYSE:IMAX) traded down 3.06% during mid-day trading on Wednesday, hitting $19.00. The stock has a 50 day moving average price of $21.42 and a 200-day moving average price of $28.21.
Imax Corporation now has a P/E ratio of 128.38 and market cap is 1.23B.
Imax Corporation (NYSE:IMAX) last posted its earnings results on Wednesday, July 26th. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of ($0.02) by $0.17. Imax Corporation had a net margin of 2.81% and a return on equity of 2.39%. The company had revenue of $87.76 million during the quarter, compared to analyst estimates of $89.26 million. During the same quarter past year, the firm earned $0.18 earnings per share. The business's revenue was down 4.3% compared to the same quarter a year ago. Analysts expect next quarter's EPS will be $0.39 and the next full year EPS is anticipated to be $0.99. This repurchase authorization authorizes the company to buy up to 12.5% of its shares through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.
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On June 7 the company was downgraded from "Buy" to "Hold" in a report issued by Benchmark.
A number of research firms have recently commented on IMAX.
Shares of Imax Corporation (IMAX) traded down 4.920% during mid-day trading on Thursday, reaching $20.775. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. The stock now has an average rating of "Hold" and an average price target of $34.82.
In related news, CFO Patrick Mcclymont sold 1,760 shares of Imax Corporation stock in a transaction that occurred on Wednesday, August 9th. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric A. Demirian sold 2,670 shares of Imax Corporation stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $20.50, for a total value of $36,080.00. Following the transaction, the director now owns 17,945 shares in the company, valued at $450,419.50.
IMAX Corporation is an entertainment technology company. The Firm operates through seven divisions: 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.
Asian stocks also fell across the board, while perceived safe-haven assets gold and the Japanese yen, rose. Franco Nevada Corp rose 3.9 percent to C$95.65, while Barrick Gold Corp was up 1.9 percent at C$21.26.
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