IMAX Corporation $IMAX Shares Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP increased its stake in IMAX Corporation (NYSE:IMAX) by 264.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,287 shares of the company’s stock after acquiring an additional 21,979 shares during the period. GSA Capital Partners LLP’s holdings in IMAX were worth $1,119,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Divisadero Street Capital Management LP acquired a new stake in shares of IMAX in the third quarter worth approximately $20,975,000. Principal Financial Group Inc. boosted its position in shares of IMAX by 67.8% in the third quarter. Principal Financial Group Inc. now owns 70,927 shares of the company’s stock worth $2,323,000 after acquiring an additional 28,667 shares during the last quarter. Citigroup Inc. boosted its position in shares of IMAX by 267.7% in the third quarter. Citigroup Inc. now owns 66,769 shares of the company’s stock worth $2,187,000 after acquiring an additional 48,609 shares during the last quarter. Hedges Asset Management LLC acquired a new stake in shares of IMAX in the fourth quarter worth approximately $2,088,000. Finally, Zhang Financial LLC acquired a new stake in shares of IMAX in the third quarter worth approximately $903,000. 93.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on IMAX shares. Weiss Ratings raised shares of IMAX from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $47.00 price target on shares of IMAX in a research report on Monday, April 20th. JPMorgan Chase & Co. reduced their price target on shares of IMAX from $48.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Benchmark lifted their price target on shares of IMAX from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Finally, Wall Street Zen cut shares of IMAX from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.89.

Key Stories Impacting IMAX

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: IMAX is exploring strategic options, including a possible sale, after reportedly approaching entertainment companies as potential buyers. IMAX is exploring sale, WSJ reports
• Positive Sentiment: CNBC reported IMAX has held preliminary talks through intermediaries with potential buyers, reinforcing takeover speculation. IMAX has held ‘preliminary talks’ with potential buyers, source says
• Positive Sentiment: News that premium theatrical experiences are growing faster than the overall box office supports the appeal of IMAX’s business and could make it more attractive to buyers. IMAX Is Exploring a Sale
• Neutral Sentiment: Several entertainment headlines highlighted upcoming IMAX-exclusive releases, including the “Cliff Booth” film and commentary about major franchises potentially using IMAX screens, which may help keep the brand visible but do not yet change the company’s fundamentals materially.
• Neutral Sentiment: Recent commentary also framed IMAX as a long-term growth name and said the company is expanding despite near-term pressure in China, which is supportive but not the main driver of the stock move today.

Insider Buying and Selling

In other news, insider Kevin Douglas sold 330,200 shares of IMAX stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $37.82, for a total transaction of $12,488,164.00. Following the sale, the insider owned 3,657,450 shares in the company, valued at $138,324,759. This trade represents a 8.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard L. Gelfond sold 8,943 shares of IMAX stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $37.33, for a total transaction of $333,842.19. Following the sale, the chief executive officer owned 765,002 shares in the company, valued at $28,557,524.66. This represents a 1.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,054,284 shares of company stock worth $40,062,532 in the last quarter. Insiders own 20.55% of the company’s stock.

IMAX Stock Down 1.1%

Shares of IMAX stock opened at $33.84 on Friday. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 52.06, a price-to-earnings-growth ratio of 1.21 and a beta of 0.37. IMAX Corporation has a fifty-two week low of $24.20 and a fifty-two week high of $43.16. The firm’s 50 day moving average price is $36.80 and its two-hundred day moving average price is $36.69.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The firm had revenue of $81.38 million for the quarter, compared to analysts’ expectations of $79.82 million. IMAX had a net margin of 9.08% and a return on equity of 13.61%. IMAX’s revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 earnings per share. On average, equities analysts forecast that IMAX Corporation will post 1.34 EPS for the current fiscal year.

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.