The President of IMAX Corp (NYSE: IMAX) is Buying Shares

By Carrie Williams

Today, the President of IMAX Corp (NYSE: IMAX), Mark Welton, bought shares of IMAX for $159K.

Following this transaction Mark Welton’s holding in the company was increased by 37.41% to a total of $568.1K. This is Welton’s first Buy trade following 4 Sell transactions.

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Based on IMAX Corp’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $98.35 million and quarterly net profit of $7.63 million. In comparison, last year the company earned revenue of $87.76 million and had a GAAP net loss of $1.71 million. IMAX’s market cap is $1.33B and the company has a P/E ratio of 67.52. Currently, IMAX Corp has an average volume of 606.9K.

21 different firms, including B.Riley FBR and Barrington, currently also have a Buy rating on the stock. Based on 4 analyst ratings, the analyst consensus is Strong Buy with an average price target of $29.75, reflecting a -25.7% downside. Starting in May 2018, IMAX received 10 Buy ratings in a row.

In the last 30 days, insiders have sold $217.6K worth of IMAX shares and purchased $159K worth of IMAX shares. The insider sentiment on IMAX Corp has been negative according to 34 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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IMAX Corp. is an entertainment technology company, which engages in the business of motion picture technologies and presentations. It operates through following business segments: Network Business, Theater Business, New Business, and Other.