57,033 Shares in IMAX Corporation $IMAX Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new position in IMAX Corporation (NYSE:IMAX) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 57,033 shares of the company’s stock, valued at approximately $2,273,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. AQR Capital Management LLC boosted its position in shares of IMAX by 47.9% during the 1st quarter. AQR Capital Management LLC now owns 56,348 shares of the company’s stock worth $1,485,000 after purchasing an additional 18,238 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in IMAX by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,486 shares of the company’s stock valued at $672,000 after buying an additional 1,091 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in IMAX by 7.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,714 shares of the company’s stock valued at $4,208,000 after buying an additional 11,736 shares in the last quarter. Creative Planning raised its stake in IMAX by 84.1% during the 2nd quarter. Creative Planning now owns 16,081 shares of the company’s stock worth $450,000 after buying an additional 7,344 shares during the period. Finally, Norges Bank acquired a new position in IMAX during the 2nd quarter worth approximately $709,000. 93.51% of the stock is owned by institutional investors.

IMAX Price Performance

IMAX opened at $51.72 on Friday. IMAX Corporation has a 1 year low of $28.93 and a 1 year high of $55.57. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 71.83, a P/E/G ratio of 1.65 and a beta of 0.40. The firm’s fifty day moving average price is $46.36 and its two-hundred day moving average price is $41.27.

IMAX (NYSE:IMAX) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.13. IMAX had a net margin of 9.84% and a return on equity of 15.47%. The company had revenue of $102.84 million for the quarter, compared to analyst estimates of $96.09 million. During the same period last year, the firm earned $0.26 earnings per share. The firm’s revenue was up 12.2% on a year-over-year basis. As a group, equities analysts anticipate that IMAX Corporation will post 1.53 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Seaport Research Partners reaffirmed a “buy” rating and set a $50.00 target price on shares of IMAX in a research report on Wednesday, June 24th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $60.00 price objective on shares of IMAX in a research note on Wednesday, August 19th. Benchmark reissued a “buy” rating on shares of IMAX in a research report on Monday, June 22nd. Wall Street Zen raised shares of IMAX from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, The Goldman Sachs Group lifted their price target on IMAX from $42.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Insider Buying and Selling

In related news, insider Kenneth Weissman sold 8,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $54.54, for a total value of $436,320.00. Following the transaction, the insider directly owned 28,205 shares of the company’s stock, valued at approximately $1,538,300.70. The trade was a 22.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard L. Gelfond sold 100,000 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $53.23, for a total transaction of $5,323,000.00. Following the sale, the chief executive officer owned 665,002 shares of the company’s stock, valued at $35,398,056.46. This trade represents a 13.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 484,757 shares of company stock worth $25,513,021. 20.55% of the stock is owned by company insiders.

IMAX News Summary

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: The Odyssey’s IMAX 70mm engagement has been extended through the end of September, indicating sustained demand for premium-format screenings and potentially supporting IMAX’s box-office revenue. The Odyssey Is Extending Its IMAX 70MM Run Once Again Through the End of September
• Positive Sentiment: Multiple reports say The Odyssey’s ticket sales have surpassed $450 million, and theaters are extending its IMAX 70mm run. The result reinforces the commercial appeal of blockbuster films released in IMAX and could improve near-term exhibitor and technology revenue. The Odyssey extends Imax 70mm run, ticket sales surpass $450 million
• Neutral Sentiment: Coverage of Steph Curry’s basketball project involving 20 IMAX cameras highlights IMAX’s ability to attract sports and event-content partnerships, although the immediate financial impact is unclear. Steph Curry IMAX cameras feature
• Negative Sentiment: Goldman Sachs raised its IMAX price target from $42 to $50 but maintained a Neutral rating. The new target remains about 3.3% below the reported $51.72 share price, suggesting Goldman believes much of the expected upside is already reflected. With IMAX trading at a high earnings multiple, the valuation signal may weigh on the stock despite the target increase.

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.