IMAX Co. (NYSE:IMAX) Short Interest Update
IMAX Co. (NYSE:IMAX) experienced a 7.8% decrease in short interest in January, totaling 4,510,000 shares as of January 31. The days-to-cover ratio is 7.7 days, with 10.8% of shares sold short. Insider sales included 6,309 shares by Kenneth Ian Weissman and 55,910 shares by Robert D. Lister. Institutional ownership is at 93.51%. IMAX shares rose 0.6% to $27.00, with analysts giving a consensus rating of "Moderate Buy" and target prices ranging from $25.00 to $32.00.
IMAX Co. (NYSE:IMAX - Get Free Report) was the target of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 4,510,000 shares, a decline of 7.8% from the January 15th total of 4,890,000 shares. Based on an average daily trading volume, of 585,500 shares, the short-interest ratio is currently 7.7 days. Approximately 10.8% of the company's shares are short sold.
Insider Activity
- Box Office Revival: 3 Movie Theater Stocks Making a Comeback
In other news, insider Kenneth Ian Weissman sold 6,309 shares of the business's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.51, for a total value of $160,942.59. Following the completion of the transaction, the insider now owns 25,139 shares of the company's stock, valued at $641,295.89. The trade was a 20.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Robert D. Lister sold 55,910 shares of the business's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the completion of 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 disclosure for this sale can be found here. Insiders sold a total of 65,176 shares of company stock valued at $1,662,110 over the last 90 days. Insiders own 24.08% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Blue Trust Inc. lifted its position in shares of IMAX by 138.5% during the fourth quarter. Blue Trust Inc. now owns 966 shares of the company's stock worth $25,000 after purchasing an additional 561 shares in the last quarter. Huntington National Bank acquired a new stake in IMAX in the third quarter valued at $34,000. Quarry LP raised its holdings in 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 acquiring an additional 2,350 shares in the last quarter. nVerses Capital LLC acquired a new stake in IMAX in the third quarter valued at $70,000. Finally, US Bancorp DE raised its holdings in IMAX by 23.4% in the third 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 in the last quarter. 93.51% of the stock is owned by institutional investors and hedge funds.
IMAX Stock Up 0.6 %
- Big Screen Stock Soars on Blockbuster Q2 Earnings
Shares of NYSE IMAX traded up $0.17 during trading on Monday, reaching $27.00. 1,112,846 shares of the stock were exchanged, compared to its average volume of 621,607. The business's 50-day moving average price is $24.58 and its 200 day moving average price is $22.86. IMAX has a twelve month low of $14.48 and a twelve month high of $27.29. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 61.36, a price-to-earnings-growth ratio of 1.40 and a beta of 1.22.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on IMAX shares. Benchmark restated a "buy" rating and issued a $30.00 target price on shares of IMAX in a report on Friday, January 17th. Wedbush restated an "outperform" rating and issued a $32.00 target price on shares of IMAX in a report on Wednesday, February 12th. JPMorgan Chase & Co. boosted their target price on shares of IMAX from $21.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. StockNews.com downgraded shares of IMAX from a "buy" rating to a "hold" rating in a research note on Thursday. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $28.00 price objective on shares of IMAX in a research note on Thursday, January 16th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $28.63.
- AMC Entertainment: Time to Take Step Back Into This Meme Stock?
Get Our Latest Stock Report on IMAX
IMAX Company Profile
(Get Free Report)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.
Further Reading
- Five stocks we like better than IMAX
- What Percentage Gainers Tell Investors and Why They Don’t Tell the Whole Story
- Airbnb's Earnings: Sky High Results, Grounded Guidance?
- 3 Home Improvement Stocks that Can Upgrade Your Portfolio
- Kyndryl Soars on AI, Cybersecurity Growth—What’s Next?
- Options Trading - Understanding Strike Price
- Conflicting Signals: Tempus AI's Stock Market Rally
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Where Should You Invest $1,000 Right Now?
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
Should You Invest $1,000 in IMAX Right Now?
Before you consider IMAX, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and IMAX wasn't on the list.
While IMAX currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
