IMAX Corporation $IMAX Shares Sold by UBS Group AG

Key Points

• UBS Group AG cut its IMAX stake sharply, reducing holdings by 64.7% in the fourth quarter and selling 181,049 shares, leaving it with 98,888 shares worth about $3.66 million.
• Insiders have also been selling: Kevin Douglas and CEO Richard L. Gelfond both trimmed their positions, and insiders collectively sold over 1.05 million shares worth about $40.1 million in the last three months.
• IMAX reported better-than-expected quarterly results, with EPS of $0.17 beating estimates and revenue of $81.38 million topping forecasts, while analysts currently rate the stock a “Moderate Buy” with an average target price of $48.00.

UBS Group AG lowered its holdings in IMAX Corporation (NYSE:IMAX - Free Report) by 64.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 98,888 shares of the company's stock after selling 181,049 shares during the period. UBS Group AG owned approximately 0.18% of IMAX worth $3,655,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Aurora Investment Counsel grew its holdings in shares of IMAX by 0.4% in the third quarter. Aurora Investment Counsel now owns 70,235 shares of the company's stock valued at $2,300,000 after purchasing an additional 308 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of IMAX by 43.8% in the third quarter. Jones Financial Companies Lllp now owns 1,041 shares of the company's stock valued at $34,000 after purchasing an additional 317 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of IMAX by 22.3% in the fourth quarter. GAMMA Investing LLC now owns 1,874 shares of the company's stock valued at $69,000 after purchasing an additional 342 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of IMAX by 2.8% in the third quarter. Arizona State Retirement System now owns 13,517 shares of the company's stock valued at $443,000 after purchasing an additional 364 shares in the last quarter. Finally, CIBC Private Wealth Group LLC purchased a new position in IMAX in the third quarter worth approximately $27,000. Institutional investors and hedge funds own 93.51% of the company's stock.

Insider Buying and Selling at IMAX

In other IMAX news, insider Kevin Douglas sold 330,200 shares of the firm's stock in a transaction 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 transaction, the insider directly owned 3,657,450 shares of the company's stock, valued at approximately $138,324,759. This trade represents a 8.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Richard L. Gelfond sold 135,046 shares of the firm's stock in a transaction on Friday, April 10th. The stock was sold at an average price of $37.82, for a total transaction of $5,107,439.72. Following the transaction, the chief executive officer directly owned 765,002 shares in the company, valued at $28,932,375.64. The trade was a 15.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,054,284 shares of company stock worth $40,062,532 over the last three months. 20.55% of the stock is currently owned by insiders.

IMAX Price Performance

Shares of NYSE:IMAX opened at $39.14 on Friday. The company's fifty day moving average price is $36.79 and its 200 day moving average price is $36.71. IMAX Corporation has a 12 month low of $24.20 and a 12 month high of $43.16. The firm has a market capitalization of $2.15 billion, a P/E ratio of 60.21, a P/E/G ratio of 1.39 and a beta of 0.37.

IMAX (NYSE:IMAX - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.15 by $0.02. The firm had revenue of $81.38 million during the quarter, compared to the consensus estimate of $79.82 million. IMAX had a net margin of 9.08% and a return on equity of 13.61%. IMAX's revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 EPS. On average, sell-side analysts anticipate that IMAX Corporation will post 1.34 EPS for the current year.

Wall Street Analysts Forecast Growth

IMAX has been the subject of a number of recent research reports. Barrington Research lifted their price target on shares of IMAX from $42.00 to $46.00 and gave the stock an "outperform" rating in a research note on Friday, May 1st. The Goldman Sachs Group lifted their price target on shares of IMAX from $37.00 to $41.00 and gave the stock a "neutral" rating in a research note on Monday, March 2nd. Wall Street Zen downgraded shares of IMAX from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings downgraded shares of IMAX from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday. Finally, Seaport Research Partners lifted their price target on shares of IMAX from $43.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, April 8th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $48.00.

Key Stories Impacting IMAX

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: IMAX is reportedly exploring a sale, and analysts say the company could draw interest from major entertainment and technology buyers, boosting takeover hopes. IMAX Is Exploring a Sale
• Positive Sentiment: News that IMAX has held early-stage discussions with potential suitors fueled a strong share move, even as reports emphasized that no formal deal process has been launched yet. IMAX is exploring sale, WSJ reports
• Positive Sentiment: Media coverage highlighted IMAX’s appeal as a premium cinema asset that has outperformed a weakening theater industry, reinforcing the idea that a strategic buyer could pay up. IMAX has bucked the trend as the movie-theater business fades
• Neutral Sentiment: Several entertainment outlets also reported the sale chatter and IMAX’s stock surge, but these stories mainly repeated the same early-stage speculation rather than confirming a transaction. Imax Stock Surges on Hollywood Takeover Talk
• Neutral Sentiment: Industry commentary suggested possible buyers could include Apple, Netflix, Amazon, or other media/tech players, but no bidder has been identified and a deal may never happen. Wall Street thinks IMAX is ripe for a sale. Here's who could buy it

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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