Public Employees Retirement System of Ohio Acquires New Shares in IMAX Corporation $IMAX

Public Employees Retirement System of Ohio acquired a new position in shares of IMAX Corporation (NYSE:IMAX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 57,033 shares of the company’s stock, valued at approximately $2,273,000. Public Employees Retirement System of Ohio owned about 0.10% of IMAX as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of IMAX. Bank of America Corp DE bought a new position in IMAX in the second quarter valued at about $17,420,000. Freestone Grove Partners LP bought a new stake in shares of IMAX during the second quarter worth about $308,000. Man Group plc bought a new stake in shares of IMAX during the second quarter worth about $951,000. Jupiter Topco LLC acquired a new position in shares of IMAX in the second quarter valued at approximately $836,000. Finally, Hsbc Holdings PLC acquired a new position in shares of IMAX in the second quarter valued at approximately $424,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. HC Wainwright reiterated a “buy” rating on shares of IMAX in a research report on Friday, July 24th. Wedbush raised their price target on shares of IMAX from $46.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Rosenblatt Securities reiterated a “buy” rating and set a $60.00 price target on shares of IMAX in a report on Wednesday, August 19th. Roth Capital boosted their price objective on shares of IMAX from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. increased their price objective on IMAX from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on 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 at IMAX

In other IMAX news, CFO Natasha Fernandes sold 20,000 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer directly owned 35,596 shares in the company, valued at approximately $1,944,609.48. This trade represents a 35.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Richard Gelfond sold 100,000 shares of IMAX stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $53.23, for a total value of $5,323,000.00. Following the completion of the transaction, the chief executive officer directly owned 665,002 shares of the company’s stock, valued at approximately $35,398,056.46. This trade represents a 13.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 484,757 shares of company stock valued at $25,513,021. 20.55% of the stock is currently owned by insiders.

IMAX Stock Performance

IMAX stock opened at $51.72 on Friday. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 71.83, a PEG ratio of 1.65 and a beta of 0.40. IMAX Corporation has a 52-week low of $28.93 and a 52-week high of $55.57. The firm has a 50 day moving average price of $46.36 and a two-hundred day moving average price of $41.27.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.43 EPS 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 in the prior year, the firm posted $0.26 EPS. The company’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, equities research analysts predict that IMAX Corporation will post 1.53 EPS for the current fiscal year.

Key Stories Impacting IMAX

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.

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.