Janus Henderson Group PLC Boosts Stock Position in IMAX Corporation $IMAX

Janus Henderson Group PLC grew its position in IMAX Corporation (NYSE:IMAX) by 10.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 261,059 shares of the company’s stock after purchasing an additional 23,665 shares during the period. Janus Henderson Group PLC’s holdings in IMAX were worth $9,924,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Amundi lifted its holdings in shares of IMAX by 61.0% during the first quarter. Amundi now owns 9,286 shares of the company’s stock worth $353,000 after purchasing an additional 3,519 shares during the period. California State Teachers Retirement System raised its position in IMAX by 31.2% during the 1st quarter. California State Teachers Retirement System now owns 54,174 shares of the company’s stock worth $2,059,000 after buying an additional 12,898 shares during the last quarter. Royal Bank of Canada raised its position in IMAX by 126.5% during the 1st quarter. Royal Bank of Canada now owns 75,777 shares of the company’s stock worth $2,880,000 after buying an additional 362,021 shares during the last quarter. Quantinno Capital Management LP raised its position in IMAX by 5.4% during the 1st quarter. Quantinno Capital Management LP now owns 18,844 shares of the company’s stock worth $716,000 after buying an additional 957 shares during the last quarter. Finally, Keebeck Wealth Management acquired a new stake in IMAX during the 1st quarter valued at approximately $403,000. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting IMAX

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: The Odyssey generated approximately $52 million in IMAX ticket sales, highlighting the pricing power and consumer demand for premium large-format movie experiences. The film’s performance supports IMAX’s view that exclusive, event-style theatrical releases can create significant value. Christopher Nolan’s The Odyssey Sold $52 Million in IMAX Tickets
• Positive Sentiment: IMAX reported more than $50 million in global ticket sales for The Odyssey for a third consecutive weekend. The sustained results and CEO Richard Gelfond’s comments that demand continues to “defy gravity” reinforce expectations for a strong film slate and operating momentum. The Odyssey fuels Imax stock to all-time high
• Positive Sentiment: Demand for premium screenings remains strong enough that an IMAX 70mm engagement of The Odyssey in Providence has been extended through September 16, suggesting continued audience interest and additional revenue potential. The Odyssey extends its IMAX 70mm film run
• Neutral Sentiment: Spider-Man: Brand New Day is scheduled to begin playing in IMAX theaters, with IMAX splitting screens between the superhero film and The Odyssey. The arrangement broadens the near-term content lineup but may reduce the exclusivity and screen concentration behind Nolan’s blockbuster. Spider-Man and The Odyssey are splitting up IMAX screens
• Negative Sentiment: Coverage noting that Spider-Man initially missed out because of The Odyssey’s exclusive IMAX run underscores a potential tradeoff: allocating screens to the new release could slow the unusually strong momentum of Nolan’s film. The Odyssey Has Already Lost To Spider-Man 4 Despite Its Imax Advantage

IMAX Price Performance

NYSE:IMAX opened at $51.11 on Wednesday. The company has a 50 day moving average price of $41.67 and a 200-day moving average price of $38.73. IMAX Corporation has a 1-year low of $24.20 and a 1-year high of $51.30. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 70.98, a price-to-earnings-growth ratio of 1.68 and a beta of 0.38.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.13. The firm had revenue of $102.84 million for the quarter, compared to the consensus estimate of $96.09 million. IMAX had a net margin of 9.84% and a return on equity of 15.47%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 earnings per share. On average, sell-side analysts anticipate that IMAX Corporation will post 1.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IMAX has been the topic of several recent research reports. Benchmark reaffirmed a “buy” rating on shares of IMAX in a report on Monday, June 22nd. Weiss Ratings upgraded shares of IMAX from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Roth Capital boosted their target price on shares of IMAX from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $60.00 price target on shares of IMAX in a report on Friday, May 22nd. Finally, B. Riley Financial increased their price target on IMAX from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Ten analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.36.

About IMAX

IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.

Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.