Cibc World Market Inc. Buys New Position in IMAX Corporation $IMAX

Cibc World Market Inc. purchased a new position in IMAX Corporation (NYSE:IMAX) during the 2nd quarter, HoldingsChannel reports. The firm purchased 15,851 shares of the company’s stock, valued at approximately $632,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pier Capital LLC boosted its holdings in IMAX by 85.0% during the fourth quarter. Pier Capital LLC now owns 244,589 shares of the company’s stock worth $9,040,000 after buying an additional 112,397 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of IMAX by 76.3% in the first quarter. Principal Financial Group Inc. now owns 192,120 shares of the company’s stock valued at $7,302,000 after buying an additional 83,118 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in shares of IMAX by 44.6% in the fourth quarter. Westfield Capital Management Co. LP now owns 2,346,486 shares of the company’s stock valued at $86,726,000 after buying an additional 723,861 shares in the last quarter. Chase Investment Counsel Corp acquired a new stake in shares of IMAX during the 4th quarter valued at $3,070,000. Finally, Militia Capital Management LLC acquired a new stake in shares of IMAX during the 1st quarter valued at $1,634,000. 93.51% of the stock is owned by institutional investors and hedge funds.

IMAX News Roundup

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: IMAX continues to secure high-profile film partnerships. Netflix’s upcoming Cliff Booth movie is set for an IMAX release, while Godzilla Minus Zero is expected to become the first Japanese IMAX film, supporting the company’s pipeline and potential box-office revenue. Netflix Cliff Booth IMAX article Godzilla Minus Zero IMAX article
• Positive Sentiment: Individual theaters are continuing to invest in the format. A downtown theater upgraded to laser projection for its 30th anniversary, and Mann Theatres plans to add an IMAX auditorium in Plymouth. These projects can expand IMAX’s installation base and future licensing and maintenance opportunities. Downtown IMAX laser upgrade article Mann Theatres Plymouth IMAX article
• Positive Sentiment: Reports of record ticket sales for The Odyssey, along with a limited two-day IMAX run for the Queen concert film, point to continued consumer interest in premium screenings. The Odyssey IMAX projector article Queen Budapest IMAX article
• Neutral Sentiment: An article explaining the difference between genuine IMAX and lower-specification “LieMAX” screens may help educate consumers, but it also highlights potential confusion over the consistency of the IMAX experience across venues. IMAX versus LieMAX article
• Negative Sentiment: CFO Natasha Fernandes sold 20,000 shares for approximately $1.09 million, reducing her holdings by nearly 36%. Insider Kenneth Ian Weissman separately sold 8,000 shares worth about $436,000, cutting his position by roughly 22%. The sales may pressure sentiment, particularly after IMAX’s strong rally.
• Negative Sentiment: Valuation remains a risk: IMAX trades at roughly 72–73 times earnings despite the stock being near its 52-week high. That leaves shares vulnerable to profit-taking if upcoming releases or theater expansion fail to meet elevated expectations. The company’s latest reported quarter was strong, with revenue up 12.2% year over year and EPS exceeding estimates, but analysts forecast only about $1.49 in full-year EPS.

IMAX Stock Performance

IMAX stock opened at $51.92 on Friday. The company has a 50 day moving average price of $45.43 and a 200 day moving average price of $40.67. IMAX Corporation has a 52 week low of $28.14 and a 52 week high of $55.57. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 72.11, a P/E/G ratio of 1.69 and a beta of 0.38.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.13. The firm had revenue of $102.84 million for 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%. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 EPS. Equities analysts forecast that IMAX Corporation will post 1.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on IMAX shares. Wells Fargo & Company lifted their target price on IMAX from $41.00 to $45.00 and gave the stock an “equal weight” rating in a report on Friday, July 24th. Weiss Ratings raised IMAX from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Benchmark reiterated a “buy” rating on shares of IMAX in a research report on Monday, June 22nd. HC Wainwright reissued a “buy” rating on shares of IMAX in a research note on Friday, July 24th. Finally, Barrington Research lifted their price target on IMAX from $46.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Ten investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.36.

Insider Activity

In related news, CEO Richard L. Gelfond sold 205,504 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $53.27, for a total transaction of $10,947,198.08. Following the transaction, the chief executive officer directly owned 765,002 shares of the company’s stock, valued at approximately $40,751,656.54. The trade was a 21.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $1,092,600.00. Following the completion of the sale, the chief financial officer directly owned 35,596 shares of the company’s stock, valued at approximately $1,944,609.48. This represents a 35.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 484,757 shares of company stock worth $25,513,021. 20.55% of the stock is owned by corporate insiders.

IMAX 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.