Jupiter Topco LLC Acquires Shares of 20,968 IMAX Corporation $IMAX

Key Points

• Jupiter Topco LLC acquired 20,968 IMAX shares worth approximately $836,000 during the second quarter. Institutional investors collectively own 93.51% of the company.
• IMAX exceeded quarterly expectations, reporting $0.43 in earnings per share and $102.84 million in revenue, while revenue increased 12.2% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $54.
• Shares opened at $51.72, near their 52-week high, but the stock’s elevated price-to-earnings ratio of 71.83 and recent insider sales—including substantial disposals by the CEO and CFO—could weigh on investor sentiment.

Jupiter Topco LLC acquired a new position in shares of IMAX Corporation (NYSE:IMAX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 20,968 shares of the company's stock, valued at approximately $836,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CIBC Private Wealth Group LLC acquired a new stake in shares of IMAX during the third quarter worth approximately $27,000. Quarry LP boosted its stake in IMAX by 166.8% during the 4th quarter. Quarry LP now owns 875 shares of the company's stock valued at $32,000 after acquiring an additional 547 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in 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 valued at $38,000 after acquiring an additional 1,109 shares during the last quarter. Aster Capital Management DIFC Ltd grew its holdings in IMAX by 863.0% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,666 shares of the company's stock worth $62,000 after acquiring an additional 1,493 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in IMAX in the fourth quarter worth about $74,000. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

Key IMAX News

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: The Odyssey’s IMAX 70mm engagement has been extended through the end of September, indicating sustained demand for premium-format screenings and potentially supporting IMAX’s box-office revenue. The Odyssey Is Extending Its IMAX 70MM Run Once Again Through the End of September
• Positive Sentiment: Multiple reports say The Odyssey’s ticket sales have surpassed $450 million, and theaters are extending its IMAX 70mm run. The result reinforces the commercial appeal of blockbuster films released in IMAX and could improve near-term exhibitor and technology revenue. The Odyssey extends Imax 70mm run, ticket sales surpass $450 million
• Neutral Sentiment: Coverage of Steph Curry’s basketball project involving 20 IMAX cameras highlights IMAX’s ability to attract sports and event-content partnerships, although the immediate financial impact is unclear. Steph Curry IMAX cameras feature
• Negative Sentiment: Goldman Sachs raised its IMAX price target from $42 to $50 but maintained a Neutral rating. The new target remains about 3.3% below the reported $51.72 share price, suggesting Goldman believes much of the expected upside is already reflected. With IMAX trading at a high earnings multiple, the valuation signal may weigh on the stock despite the target increase.

Analysts Set New Price Targets

Several brokerages have recently commented on IMAX. B. Riley Financial lifted their target price on IMAX from $52.00 to $61.00 and gave the stock a "buy" rating in a research report on Monday, August 24th. HC Wainwright restated a "buy" rating on shares of IMAX in a research note on Friday, July 24th. Seaport Research Partners reaffirmed a "buy" rating and issued a $50.00 price objective on shares of IMAX in a report on Wednesday, June 24th. Rosenblatt Securities reiterated a "buy" rating and set a $60.00 target price on shares of IMAX in a research note on Wednesday, August 19th. Finally, Wedbush increased their target price on shares of IMAX from $46.00 to $54.00 and gave the stock an "outperform" rating 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 company. Based on data from MarketBeat.com, IMAX presently has a consensus rating of "Moderate Buy" and an average price target of $54.00.

IMAX Trading Up 0.2%

Shares of IMAX stock opened at $51.72 on Monday. IMAX Corporation has a 52 week low of $28.93 and a 52 week high of $55.57. The stock has a market cap of $2.84 billion, a PE ratio of 71.83, a price-to-earnings-growth ratio of 1.60 and a beta of 0.40. The company's 50-day moving average price is $46.36 and its two-hundred day moving average price is $41.31.

IMAX (NYSE:IMAX - Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.13. The firm had revenue of $102.84 million during the quarter, compared to analysts' expectations of $96.09 million. IMAX had a net margin of 9.84% and a return on equity of 15.47%. The firm's revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the firm posted $0.26 earnings per share. On average, equities analysts predict that IMAX Corporation will post 1.53 EPS for the current fiscal year.

Insider Transactions at IMAX

In other IMAX news, CFO Natasha Fernandes sold 20,000 shares of the business's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $54.63, for a total transaction of $1,092,600.00. Following the sale, the chief financial officer owned 35,596 shares in the company, valued at approximately $1,944,609.48. The trade was a 35.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard Gelfond sold 100,000 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $53.23, for a total transaction of $5,323,000.00. Following the sale, the chief executive officer owned 665,002 shares in the company, valued at $35,398,056.46. This represents a 13.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 484,757 shares of company stock valued at $25,513,021 in the last three months. 20.55% of the stock is currently owned by corporate insiders.

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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