Jupiter Topco LLC Acquires Shares of 20,968 IMAX Corporation $IMAX

Jupiter Topco LLC acquired a new stake in shares of IMAX Corporation (NYSE:IMAX) in the second quarter, HoldingsChannel reports. The fund acquired 20,968 shares of the company’s stock, valued at approximately $836,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IMAX. Hsbc Holdings PLC acquired a new stake in shares of IMAX during the 2nd quarter valued at about $424,000. Primecap Management Co. CA bought a new position in IMAX during the second quarter valued at approximately $10,902,000. Manatuck Hill Partners LLC bought a new position in IMAX during the second quarter valued at approximately $3,679,000. Legal & General Group Plc acquired a new stake in IMAX in the second quarter valued at approximately $1,596,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of IMAX during the 2nd quarter worth $446,000. 93.51% of the stock is owned by hedge funds and other institutional investors.

IMAX News Roundup

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.

Insiders Place Their Bets

In other news, CFO Natasha Fernandes sold 20,000 shares of IMAX stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $54.63, for a total transaction of $1,092,600.00. Following the sale, the chief financial officer directly owned 35,596 shares in the company, valued at approximately $1,944,609.48. The trade was a 35.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kenneth Weissman sold 8,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $54.54, for a total transaction of $436,320.00. Following the completion of the sale, the insider directly owned 28,205 shares in the company, valued at approximately $1,538,300.70. The trade was a 22.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 484,757 shares of company stock worth $25,513,021 over the last 90 days. Corporate insiders own 20.55% of the company’s stock.

Wall Street Analyst Weigh In

IMAX has been the topic of several analyst reports. Wedbush increased their target price on shares of IMAX from $46.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Roth Capital boosted their target price on IMAX from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday. Barrington Research increased their price target on IMAX from $46.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Weiss Ratings upgraded shares of IMAX from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Finally, The Goldman Sachs Group raised their target price on shares of IMAX from $42.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday. Ten analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

IMAX Price Performance

NYSE IMAX opened at $51.72 on Monday. IMAX Corporation has a 52-week low of $28.93 and a 52-week high of $55.57. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 71.83, a P/E/G ratio of 1.60 and a beta of 0.40. The company’s fifty day moving average is $46.36 and its two-hundred day moving average is $41.31.

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

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.