K2 Principal Fund L.P. Takes $3.71 Million Position in IMAX Corporation $IMAX

K2 Principal Fund L.P. purchased a new stake in shares of IMAX Corporation (NYSE:IMAX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 93,100 shares of the company’s stock, valued at approximately $3,711,000. K2 Principal Fund L.P. owned 0.17% of IMAX at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. CIBC Private Wealth Group LLC purchased a new position in IMAX during the 3rd quarter valued at about $27,000. Quarry LP lifted its position in shares of IMAX by 166.8% in the fourth quarter. Quarry LP now owns 875 shares of the company’s stock worth $32,000 after purchasing an additional 547 shares in the last quarter. Torren Management LLC acquired a new stake in shares of IMAX during the fourth quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of IMAX by 2,310.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,157 shares of the company’s stock worth $38,000 after purchasing an additional 1,109 shares during the period. Finally, Aster Capital Management DIFC Ltd grew its position in IMAX by 863.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,666 shares of the company’s stock valued at $62,000 after purchasing an additional 1,493 shares in the last quarter. 93.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on IMAX. Benchmark reiterated a “buy” rating on shares of IMAX in a research note on Monday, June 22nd. Roth Capital boosted their price target on shares of IMAX from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, July 24th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $60.00 price target on shares of IMAX in a report on Friday, May 22nd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $42.00 price target on shares of IMAX in a research note on Thursday, July 23rd. Finally, B. Riley Financial lifted their price objective on IMAX from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Ten equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $51.55.

IMAX Price Performance

IMAX stock opened at $50.66 on Wednesday. The stock has a fifty day moving average price of $44.00 and a two-hundred day moving average price of $39.79. IMAX Corporation has a 52-week low of $25.48 and a 52-week high of $54.27. The firm has a market capitalization of $2.78 billion, a P/E ratio of 70.36, a P/E/G ratio of 1.74 and a beta of 0.38.

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

More IMAX News

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: The Odyssey is generating exceptional IMAX demand. Christopher Nolan’s film has surpassed $300 million in worldwide IMAX box office, becoming the first movie to reach that milestone. It also delivered a $47 million global IMAX weekend, including a particularly strong debut in China. IMAX Posts $47 Million Global Weekend Boosted by The Odyssey
• Positive Sentiment: China is proving a major growth driver. The Odyssey generated approximately RMB90 million ($13.2 million) during its Chinese opening weekend, representing about 45% of the film’s total opening-weekend revenue. Reports also indicate that major cinematic and sporting events, including NBA content, are bringing audiences back to theaters. IMAX Powers The Odyssey Debut in China
• Positive Sentiment: Demand is extending across international markets. The Odyssey became the highest-grossing film ever at London’s BFI IMAX, surpassing Avatar, while reports from Korea suggest the film is attracting younger audiences in their 20s and 30s. Upcoming releases such as Dune 3 could provide another boost to IMAX attendance and revenue. The Odyssey Becomes Highest-Grossing Film at BFI IMAX
• Neutral Sentiment: Recent gains may be encouraging profit-taking. IMAX shares have risen more than 16% since late July, and the stock trades at a relatively elevated valuation compared with its earnings. The current weakness therefore appears more consistent with consolidation after the rally than with a deterioration in the company’s operating outlook. The Odyssey Demand Drives IMAX Shares Higher

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.