Militia Capital Management LLC Takes Position in IMAX Corporation $IMAX

Militia Capital Management LLC purchased a new stake in IMAX Corporation (NYSE:IMAX) during the first quarter, according to its most recent filing with the SEC. The firm purchased 39,800 shares of the company’s stock, valued at approximately $1,513,000.

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

IMAX Stock Up 3.7%

Shares of IMAX stock opened at $39.25 on Thursday. IMAX Corporation has a 12-month low of $24.20 and a 12-month high of $45.52. The firm has a fifty day moving average of $39.60 and a 200-day moving average of $37.94. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 60.39, a P/E/G ratio of 1.39 and a beta of 0.37.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.15 by $0.02. The business 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%. The firm’s revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 EPS. On average, equities analysts expect that IMAX Corporation will post 1.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company reissued an “equal weight” rating and issued a $41.00 price target (down from $47.00) on shares of IMAX in a report on Thursday, July 16th. Weiss Ratings raised IMAX from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. B. Riley Financial reaffirmed a “buy” rating on shares of IMAX in a research note on Monday. Rosenblatt Securities reiterated a “buy” rating and set a $47.00 target price on shares of IMAX in a report on Monday. Finally, The Goldman Sachs Group set a $40.00 target price on IMAX in a research note on Thursday, July 9th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, IMAX currently has an average rating of “Moderate Buy” and a consensus target price of $47.30.

Insider Activity

In other IMAX news, CEO Richard L. Gelfond sold 8,943 shares of IMAX stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $37.33, for a total value of $333,842.19. Following the sale, the chief executive officer owned 765,002 shares of the company’s stock, valued at $28,557,524.66. This trade represents a 1.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.55% of the stock is owned by corporate insiders.

Trending Headlines about IMAX

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: The Odyssey opened with “cultural phenomenon” level demand, and IMAX CEO Rich Gelfond said the film’s box office was even more extreme than expected, with more than 20% of global sales coming from IMAX tickets. IMAX CEO says ‘The Odyssey’ box office is ‘more extreme’ that expected. He also addresses whether the company is for sale.
• Positive Sentiment: Media coverage highlighted record-breaking demand for IMAX 70mm showings, including premium seat sellouts and “frenzy” around the film, which supports the case for strong attendance and pricing power in IMAX’s premium theaters. IMAX CEO describes ‘frenzy’ after Christopher Nolan’s ‘The Odyssey’ shatters records.
• Positive Sentiment: Rosenblatt Securities reiterated a Buy rating on IMAX, adding a supportive analyst signal amid the surge in attention around the company’s premium-format content pipeline. Rosenblatt Securities Reiterates “Buy” Rating for IMAX (NYSE:IMAX).
• Neutral Sentiment: IMAX also announced a partnership with CGV to upgrade three locations in Vietnam to IMAX with Laser, extending its footprint in a growing Southeast Asia market. IMAX and CGV Continue Partnership With Three IMAX With Laser Locations In Vietnam.
• Neutral Sentiment: Some coverage noted IMAX may be “fully priced” after a strong run, which could temper upside expectations even as sentiment around the business remains constructive. IMAX (IMAX) Stock Looks Fully Priced After A 129% Run.

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.