The Chief Executive Officer of IMAX is Exercising Options


Yesterday it was reported that the Chief Executive Officer of IMAX (IMAX), Richard L Gelfond, exercised options to sell 17,617 IMAX shares for a total transaction value of $317.5K.

Following Richard L Gelfond’s last IMAX Sell transaction on March 18, 2020, the stock climbed by 11.4%. Following this transaction Richard L Gelfond’s holding in the company was decreased by 5% to a total of $11.52 million.

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The company has a one-year high of $21.00 and a one-year low of $6.01. Currently, IMAX has an average volume of 991.23K. IMAX’s market cap is $1.06 billion and the company has a P/E ratio of -10.20.

Based on 4 analyst ratings, the analyst consensus is Strong Buy with an average price target of $19.00, reflecting a -2.3% downside.

The insider sentiment on IMAX has been negative according to 54 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 four business segments: Network Business, Theater Business, New Business, and Other. The Network Business segment represents box office results and which includes the reportable segment of IMAX DMR and contingent rent from the joint revenue sharing arrangements and IMAX systems segments. The Theater Business segment includes the sale and installation of theater systems and maintenance services, primarily related to the IMAX Systems and Theater System Maintenance. The New Business segment involves content licensing and distribution fees associated with the firm’s original content investments, virtual reality initiatives, IMAX Home Entertainment, and other business initiatives that are in the development and/or start-up phase. The Other segment refers to certain IMAX theaters that the company owns and operates, camera rentals and other miscellaneous items. The company was founded by Graeme Ferguson, Roman Kroitor, Robert P. Kerr and William Shaw in 1967 and is headquartered in Mississauga, Canada.

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