IMAX Co. (NYSE:IMAX) Short Interest Down 7.8% in January

IMAX Co. (NYSE:IMAX - Get Free Report) saw a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 4,510,000 shares, a drop of 7.8% from the January 15th total of 4,890,000 shares. Approximately 10.8% of the company's shares are sold short. Based on an average daily trading volume, of 585,500 shares, the short-interest ratio is currently 7.7 days.

Insider Activity

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

Institutional Investors Weigh In On IMAX

Several large investors have recently modified their holdings of the business. Blue Trust Inc. grew its position in IMAX by 138.5% during the 4th quarter. Blue Trust Inc. now owns 966 shares of the company's stock worth $25,000 after purchasing an additional 561 shares during the last quarter. Huntington National Bank acquired a new position in IMAX during the third quarter worth $34,000. Quarry LP raised its position in shares of IMAX by 78,333.3% in the third quarter. Quarry LP now owns 2,353 shares of the company's stock valued at $48,000 after buying an additional 2,350 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of IMAX in the third quarter valued at about $70,000. Finally, US Bancorp DE increased its position in IMAX by 23.4% during the third quarter. US Bancorp DE now owns 7,656 shares of the company's stock worth $157,000 after purchasing an additional 1,452 shares during the last quarter. Institutional investors own 93.51% of the company's stock.

IMAX Price Performance

Shares of IMAX stock traded down $0.91 on Friday, hitting $26.03. 1,170,422 shares of the stock traded hands, compared to its average volume of 722,090. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 53.11, a PEG ratio of 1.50 and a beta of 1.22. The firm has a 50 day simple moving average of $24.65 and a two-hundred day simple moving average of $22.96. IMAX has a 52 week low of $14.94 and a 52 week high of $27.77.

IMAX (NYSE:IMAX - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.14). IMAX had a return on equity of 8.79% and a net margin of 7.40%. The firm had revenue of $92.67 million for the quarter, compared to analysts' expectations of $104.08 million. Sell-side analysts forecast that IMAX will post 0.91 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on IMAX shares. Macquarie lifted their price objective on IMAX from $28.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday. Benchmark reaffirmed a "buy" rating and issued a $30.00 price target on shares of IMAX in a report on Thursday. Wedbush restated an "outperform" rating and set a $32.00 price target on shares of IMAX in a research report on Thursday. Roth Mkm upped their target price on shares of IMAX from $27.00 to $28.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Finally, StockNews.com lowered shares of IMAX from a "buy" rating to a "hold" rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $30.67.

IMAX Company 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.