Man Group plc Buys New Shares in IMAX Corporation $IMAX

Man Group plc purchased a new stake in shares of IMAX Corporation (NYSE:IMAX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 23,846 shares of the company’s stock, valued at approximately $951,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CIBC Private Wealth Group LLC bought a new position in shares of IMAX in the third quarter worth about $27,000. Quarry LP grew its stake in shares of IMAX by 166.8% during the 4th quarter. Quarry LP now owns 875 shares of the company’s stock valued at $32,000 after acquiring an additional 547 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in IMAX by 2,310.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,157 shares of the company’s stock worth $38,000 after acquiring an additional 1,109 shares in the last quarter. Aster Capital Management DIFC Ltd increased its holdings in IMAX by 863.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,666 shares of the company’s stock worth $62,000 after acquiring an additional 1,493 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in IMAX during the 4th quarter worth approximately $74,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

IMAX Stock Performance

IMAX stock opened at $51.85 on Friday. The company’s fifty day moving average price is $46.15 and its 200-day moving average price is $41.20. IMAX Corporation has a one year low of $28.42 and a one year high of $55.57. The company has a market capitalization of $2.84 billion, a PE ratio of 72.01, a price-to-earnings-growth ratio of 1.66 and a beta of 0.40.

IMAX (NYSE:IMAX) last posted its earnings results on Thursday, July 23rd. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.13. The company had revenue of $102.84 million during the quarter, compared to analysts’ expectations of $96.09 million. IMAX had a net margin of 9.84% and a return on equity of 15.47%. IMAX’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the company posted $0.26 earnings per share. On average, research analysts predict that IMAX Corporation will post 1.49 EPS for the current fiscal year.

Key Headlines Impacting IMAX

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: The Odyssey extends its IMAX 70mm run: The film will continue playing on select IMAX 70mm screens through September, with theaters in multiple markets extending showings because of sustained demand. The movie’s reported ticket sales have surpassed $450 million, supporting IMAX’s ability to attract audiences to premium presentations and keep screens occupied longer. The Odyssey Will Continue To Conquer Imax 70MM Screens Throughout September The Odyssey 70mm Imax Run Extended Yet Again
• Positive Sentiment: Premium-format demand remains a favorable industry trend: IMAX China said audiences are increasingly seeking higher-quality theatrical experiences, suggesting continued demand for premium screens even as the broader movie market faces uneven attendance. This could support box-office revenue and future theater installations for the IMAX network. IMAX China Says Premium Formats Rising as Audiences Seek Quality
• Positive Sentiment: Additional IMAX content keeps the pipeline visible: Coverage of a Steph Curry production filmed with 20 IMAX cameras highlights the company’s ability to participate in event-oriented and sports content, potentially broadening its appeal beyond major Hollywood releases. 4,000 3-pointers, 20 IMAX cameras and one question: Is Steph Curry an artist?
• Neutral Sentiment: Trading interest may be amplified by short-squeeze speculation: IMAX appeared in a screen of stocks with short-squeeze potential. This may attract short-term speculative buying, but it does not represent a change in the company’s fundamentals. 15 Stocks to Watch With Short Squeeze Potential

Analyst Ratings Changes

A number of research firms have weighed in on IMAX. Seaport Research Partners reiterated a “buy” rating and issued a $50.00 price target on shares of IMAX in a research report on Wednesday, June 24th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $60.00 price objective on shares of IMAX in a research report on Friday, May 22nd. Wells Fargo & Company lifted their target price on shares of IMAX from $41.00 to $45.00 and gave the company an “equal weight” rating in a research note on Friday, July 24th. Weiss Ratings upgraded IMAX from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Finally, Wall Street Zen downgraded IMAX from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Ten research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, IMAX has an average rating of “Moderate Buy” and a consensus target price of $53.27.

Insider Buying and Selling at IMAX

In other IMAX news, CFO Natasha Fernandes sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was 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 of the company’s stock, valued at $1,944,609.48. The trade was a 35.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard L. Gelfond sold 205,504 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $53.27, for a total value of $10,947,198.08. Following the sale, the chief executive officer owned 765,002 shares in the company, valued at approximately $40,751,656.54. This trade represents a 21.17% decrease in their ownership of the stock. 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. Insiders sold 484,757 shares of company stock worth $25,513,021 over the last 90 days. 20.55% of the stock is owned by insiders.

IMAX Company Profile

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.