Alpine Woods Capital Investors LLC Purchases New Position in IMAX Corporation $IMAX

Key Points

• Alpine Woods Capital Investors acquired 23,371 IMAX shares in the second quarter, valued at approximately $932,000. Institutional investors collectively own 93.51% of the company.
• IMAX is benefiting from strong demand for The Odyssey: the film surpassed $300 million in worldwide IMAX box office, with China and other international markets serving as major growth drivers.
• IMAX reported quarterly earnings of $0.43 per share and revenue of $102.84 million, beating estimates and marking 12.2% year-over-year revenue growth. Analysts maintain a “Moderate Buy” consensus, with an average price target of $51.55, although the stock’s elevated valuation and recent rally may encourage profit-taking.

Alpine Woods Capital Investors LLC purchased a new stake in shares of IMAX Corporation (NYSE:IMAX - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 23,371 shares of the company's stock, valued at approximately $932,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. AQR Capital Management LLC increased its position in shares of IMAX by 47.9% during the first quarter. AQR Capital Management LLC now owns 56,348 shares of the company's stock valued at $1,485,000 after buying an additional 18,238 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in IMAX by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,486 shares of the company's stock worth $672,000 after buying an additional 1,091 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in IMAX by 7.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,714 shares of the company's stock valued at $4,208,000 after acquiring an additional 11,736 shares in the last quarter. Creative Planning boosted its position in IMAX by 84.1% during the 2nd quarter. Creative Planning now owns 16,081 shares of the company's stock valued at $450,000 after acquiring an additional 7,344 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of IMAX during the 2nd quarter worth approximately $709,000. Hedge funds and other institutional investors own 93.51% of the company's stock.

IMAX News Summary

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

IMAX Stock Down 3.3%

Shares of IMAX opened at $50.66 on Wednesday. The stock has a market cap 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. The business's 50 day moving average price is $44.00 and its 200-day moving average price is $39.79. IMAX Corporation has a 52 week low of $25.48 and a 52 week high of $54.27.

IMAX (NYSE:IMAX - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.13. The firm had revenue of $102.84 million during 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%.The company's revenue was up 12.2% on a year-over-year basis. During the same period last year, the company earned $0.26 earnings per share. On average, equities analysts anticipate that IMAX Corporation will post 1.44 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. HC Wainwright reissued a "buy" rating on shares of IMAX in a research report on Friday, July 24th. Rosenblatt Securities lifted their price target on IMAX from $50.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $60.00 price objective on shares of IMAX in a report on Friday, May 22nd. B. Riley Financial raised 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. Finally, Seaport Research Partners restated a "buy" rating and set a $50.00 target price on shares of IMAX in a report on Wednesday, June 24th. Ten research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, IMAX presently has an average rating of "Moderate Buy" and a consensus target price of $51.55.

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.

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