Janus Henderson Group PLC boosted its holdings in shares of IMAX Corporation (NYSE:IMAX - Free Report) by 10.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 261,059 shares of the company's stock after buying an additional 23,665 shares during the quarter. Janus Henderson Group PLC owned approximately 0.47% of IMAX worth $9,924,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of IMAX. CIBC Private Wealth Group LLC purchased a new position in shares of IMAX in the 3rd quarter valued at $27,000. Quarry LP lifted its stake in shares of IMAX by 166.8% during the 4th quarter. Quarry LP now owns 875 shares of the company's stock worth $32,000 after purchasing an additional 547 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of IMAX by 2,310.4% during the 3rd 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 last quarter. Torren Management LLC bought a new stake in IMAX during the fourth quarter valued at about $40,000. Finally, Aster Capital Management DIFC Ltd grew its stake in IMAX by 863.0% in the fourth 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 last quarter. Hedge funds and other institutional investors own 93.51% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $60.00 target price on shares of IMAX in a report on Friday, May 22nd. Roth Capital lifted their price objective on shares of IMAX from $48.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Rosenblatt Securities reiterated a "buy" rating and set a $47.00 price objective on shares of IMAX in a research note on Monday, July 20th. Weiss Ratings upgraded shares of IMAX from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 16th. Finally, B. Riley Financial lifted their price target on shares of IMAX from $48.00 to $52.00 and gave the stock a "buy" rating in a report on Monday, July 20th. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $50.36.
View Our Latest Analysis on IMAX
IMAX Stock Performance
Shares of IMAX stock opened at $51.11 on Wednesday. IMAX Corporation has a fifty-two week low of $24.20 and a fifty-two week high of $51.30. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 70.98, a PEG ratio of 1.68 and a beta of 0.38. The stock's 50-day simple moving average is $41.67 and its 200-day simple moving average is $38.73.
IMAX (NYSE:IMAX - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.43 EPS 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 analyst estimates of $96.09 million. IMAX had a net margin of 9.84% and a return on equity of 15.47%. IMAX's revenue was up 12.2% on a year-over-year basis. During the same period last year, the firm posted $0.26 EPS. As a group, equities analysts forecast that IMAX Corporation will post 1.44 earnings per share for the current year.
Key IMAX News
Here are the key news stories impacting IMAX this week:
- Positive Sentiment: The Odyssey generated approximately $52 million in IMAX ticket sales, highlighting the pricing power and consumer demand for premium large-format movie experiences. The film’s performance supports IMAX’s view that exclusive, event-style theatrical releases can create significant value. Christopher Nolan’s The Odyssey Sold $52 Million in IMAX Tickets
- Positive Sentiment: IMAX reported more than $50 million in global ticket sales for The Odyssey for a third consecutive weekend. The sustained results and CEO Richard Gelfond’s comments that demand continues to “defy gravity” reinforce expectations for a strong film slate and operating momentum. The Odyssey fuels Imax stock to all-time high
- Positive Sentiment: Demand for premium screenings remains strong enough that an IMAX 70mm engagement of The Odyssey in Providence has been extended through September 16, suggesting continued audience interest and additional revenue potential. The Odyssey extends its IMAX 70mm film run
- Neutral Sentiment: Spider-Man: Brand New Day is scheduled to begin playing in IMAX theaters, with IMAX splitting screens between the superhero film and The Odyssey. The arrangement broadens the near-term content lineup but may reduce the exclusivity and screen concentration behind Nolan’s blockbuster. Spider-Man and The Odyssey are splitting up IMAX screens
- Negative Sentiment: Coverage noting that Spider-Man initially missed out because of The Odyssey’s exclusive IMAX run underscores a potential tradeoff: allocating screens to the new release could slow the unusually strong momentum of Nolan’s film. The Odyssey Has Already Lost To Spider-Man 4 Despite Its Imax Advantage
IMAX Profile
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Free Report)
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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