Marsico Capital Management LLC Invests $18.15 Million in IMAX Corporation $IMAX

Key Points

• Marsico Capital Management bought a new stake in IMAX during the fourth quarter, acquiring 491,048 shares worth about $18.15 million. The position represented roughly 0.91% of IMAX based on its latest SEC filing.
• Wall Street sentiment is generally positive: 10 analysts rate IMAX a Buy and 2 rate it Hold, with a consensus rating of Moderate Buy and a $48 average price target. Several firms recently raised their targets, including Benchmark, which lifted its target to $60.
• Insiders have been selling shares recently, including CEO Richard L. Gelfond and insider Kevin Douglas, while institutional investors still own about 93.51% of the stock. IMAX also reported quarterly EPS of $0.17, beating estimates, though revenue was down 6.1% year over year.

Marsico Capital Management LLC acquired a new position in IMAX Corporation (NYSE:IMAX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 491,048 shares of the company's stock, valued at approximately $18,149,000. Marsico Capital Management LLC owned about 0.91% of IMAX as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Aurora Investment Counsel boosted its stake in IMAX by 0.4% during the third quarter. Aurora Investment Counsel now owns 70,235 shares of the company's stock worth $2,300,000 after buying an additional 308 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in IMAX by 43.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,041 shares of the company's stock worth $34,000 after purchasing an additional 317 shares during the period. GAMMA Investing LLC boosted its position in shares of IMAX by 22.3% during the 4th quarter. GAMMA Investing LLC now owns 1,874 shares of the company's stock worth $69,000 after acquiring an additional 342 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of IMAX by 6.8% during the 4th quarter. ProShare Advisors LLC now owns 8,000 shares of the company's stock worth $296,000 after acquiring an additional 511 shares in the last quarter. Finally, LPL Financial LLC boosted its position in shares of IMAX by 3.0% in the 4th quarter. LPL Financial LLC now owns 21,860 shares of the company's stock valued at $808,000 after purchasing an additional 639 shares during the period. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. The Goldman Sachs Group increased their price objective on IMAX from $37.00 to $41.00 and gave the stock a "neutral" rating in a research report on Monday, March 2nd. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 price target on shares of IMAX in a research report on Friday, May 22nd. Rosenblatt Securities reiterated a "buy" rating and issued a $47.00 target price on shares of IMAX in a report on Monday, April 20th. Benchmark lifted their target price on IMAX from $44.00 to $60.00 and gave the company a "buy" rating in a report on Friday, May 22nd. Finally, Seaport Research Partners raised their price objective on IMAX from $43.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, April 8th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.00.

Insiders Place Their Bets

In other IMAX news, insider Kevin Douglas sold 330,200 shares of the business'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 sale, the insider directly owned 3,657,450 shares of the company's stock, valued at $138,324,759. The trade was a 8.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard L. Gelfond sold 8,943 shares of the company's stock in a transaction on Monday, April 27th. The stock was sold at an average price of $37.33, for a total transaction of $333,842.19. Following the completion of the transaction, the chief executive officer directly owned 765,002 shares in the company, valued at $28,557,524.66. This trade represents a 1.16% 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 933,064 shares of company stock valued at $35,201,610 in the last quarter. Insiders own 20.55% of the company's stock.

IMAX Trading Down 0.1%

NYSE:IMAX opened at $42.14 on Friday. The stock has a 50 day moving average of $37.38 and a 200-day moving average of $37.22. The firm has a market capitalization of $2.32 billion, a PE ratio of 64.83, a price-to-earnings-growth ratio of 1.49 and a beta of 0.37. IMAX Corporation has a 52 week low of $24.20 and a 52 week high of $43.31.

IMAX (NYSE:IMAX - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.02. The business had revenue of $81.38 million during the quarter, compared to the consensus estimate of $79.82 million. IMAX had a return on equity of 13.61% and a net margin of 9.08%.The business's revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 earnings per share. As a group, analysts predict that IMAX Corporation will post 1.34 EPS for the current fiscal year.

IMAX Company 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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