BlackRock Inc. Purchases Shares of 2,907,192 IMAX Corporation $IMAX

BlackRock Inc. acquired a new stake in IMAX Corporation (NYSE:IMAX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,907,192 shares of the company's stock, valued at approximately $115,881,000. BlackRock Inc. owned approximately 5.30% of IMAX as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IMAX. CIBC Private Wealth Group LLC acquired a new position in IMAX in the third quarter worth about $27,000. Quarry LP boosted its holdings in IMAX by 166.8% during 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. Caitong International Asset Management Co. Ltd grew its stake in shares of IMAX by 2,310.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,157 shares of the company's stock valued at $38,000 after purchasing an additional 1,109 shares during the period. Aster Capital Management DIFC Ltd grew its stake in shares of IMAX by 863.0% in the 4th 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 during the period. Finally, Kestra Advisory Services LLC acquired a new position in shares of IMAX in the 4th quarter worth approximately $74,000. 93.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other IMAX news, insider Kenneth Ian Weissman sold 8,000 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $54.54, for a total value of $436,320.00. Following the transaction, the insider directly owned 28,205 shares in the company, valued at approximately $1,538,300.70. This trade represents a 22.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard L. Gelfond sold 205,504 shares of IMAX stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $53.27, for a total value of $10,947,198.08. Following the completion of the sale, the chief executive officer directly owned 765,002 shares of the company's stock, valued at $40,751,656.54. This trade represents a 21.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 484,757 shares of company stock valued at $25,513,021. 20.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on IMAX. Wells Fargo & Company raised their target price on IMAX from $41.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Friday, July 24th. Seaport Research Partners reiterated a "buy" rating and set a $50.00 price objective on shares of IMAX in a research note on Wednesday, June 24th. Wall Street Zen cut IMAX from a "buy" rating to a "hold" rating in a report on Saturday, August 22nd. Benchmark restated a "buy" rating on shares of IMAX in a research note on Monday, June 22nd. Finally, HC Wainwright reaffirmed a "buy" rating on shares of IMAX in a report on Friday, July 24th. Ten analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $52.36.

IMAX Stock Performance

Shares of NYSE:IMAX opened at $50.47 on Friday. The business has a fifty day moving average of $45.55 and a 200-day moving average of $40.74. IMAX Corporation has a twelve month low of $28.14 and a twelve month high of $55.57. The firm has a market cap of $2.77 billion, a PE ratio of 70.10, a price-to-earnings-growth ratio of 1.61 and a beta of 0.38.

IMAX (NYSE:IMAX - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.13. IMAX had a net margin of 9.84% and a return on equity of 15.47%. The firm had revenue of $102.84 million for the quarter, compared to analyst estimates of $96.09 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The company's revenue was up 12.2% on a year-over-year basis. On average, analysts anticipate that IMAX Corporation will post 1.49 EPS for the current fiscal year.

More IMAX News

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: The Odyssey is returning to IMAX screens in India after being displaced by Toxic, while its London BFI IMAX engagement has been extended. The developments point to strong audience demand and could support premium-format box-office revenue. The Odyssey returns in India The Odyssey London extension
• Positive Sentiment: Netflix’s upcoming Cliff Booth film is set for an IMAX release, adding another high-profile title to the company’s pipeline. A first Japanese IMAX film, Godzilla Minus Zero, is also scheduled for November, potentially broadening international content demand. Netflix IMAX release Godzilla Minus Zero IMAX release
• Positive Sentiment: A theater in Indiana is marking its 30th anniversary with an IMAX laser-projection upgrade, supporting demand for higher-quality systems and potential installation-related revenue. Zacks also characterizes IMAX as a strong momentum stock. IMAX laser upgrade Zacks momentum analysis
• Neutral Sentiment: IMAX says it remains open to a sale, but no major buyers have emerged despite record box-office performance and substantial stock appreciation. The lack of a suitor removes a potential takeover catalyst, while continued independence leaves the company focused on organic growth. CNBC IMAX sale article
• Negative Sentiment: Insider Kenneth Ian Weissman sold 8,000 shares for approximately $436,000, reducing his position by 22.1%. The sale may weigh on sentiment, particularly after the stock’s strong rally, although it does not by itself demonstrate weakening fundamentals. IMAX insider sale

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.

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