14,227 Shares in IMAX Corporation $IMAX Purchased by Keebeck Wealth Management

Keebeck Wealth Management acquired a new stake in IMAX Corporation (NYSE:IMAX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,227 shares of the company’s stock, valued at approximately $567,000.

A number of other institutional investors also recently added to or reduced their stakes in IMAX. Caitong International Asset Management Co. Ltd raised its stake in shares of IMAX by 28.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,489 shares of the company’s stock worth $55,000 after buying an additional 332 shares in the last quarter. ProShare Advisors LLC grew its holdings in IMAX by 6.8% during the fourth quarter. ProShare Advisors LLC now owns 8,000 shares of the company’s stock worth $296,000 after acquiring an additional 511 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in IMAX by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 108,781 shares of the company’s stock worth $4,021,000 after acquiring an additional 546 shares during the period. Quarry LP raised its position in IMAX by 166.8% in the fourth quarter. Quarry LP now owns 875 shares of the company’s stock worth $32,000 after acquiring an additional 547 shares in the last quarter. Finally, State of Wyoming raised its position in IMAX by 7.6% in the first quarter. State of Wyoming now owns 7,910 shares of the company’s stock worth $301,000 after acquiring an additional 562 shares in the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

IMAX Stock Performance

IMAX stock opened at $52.93 on Friday. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 73.51, a price-to-earnings-growth ratio of 1.74 and a beta of 0.38. IMAX Corporation has a fifty-two week low of $26.17 and a fifty-two week high of $54.50. The stock’s fifty day moving average is $44.65 and its two-hundred day moving average is $40.15.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.13. The business had revenue of $102.84 million during the quarter, compared to analysts’ expectations of $96.09 million. IMAX had a return on equity of 15.47% and a net margin of 9.84%.The business’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter last year, the business posted $0.26 earnings per share. As a group, sell-side analysts forecast that IMAX Corporation will post 1.44 EPS for the current fiscal year.

More IMAX News

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: Rosenblatt Securities reiterated a Buy rating and established a $60 price target, signaling continued confidence in IMAX’s growth prospects and potential upside. Rosenblatt reiterates Buy rating
• Positive Sentiment: The Odyssey has reportedly surpassed $1.29 billion globally and become IMAX’s biggest release ever. The result highlights strong audience demand for IMAX presentations and could support additional box-office-related revenue and future studio partnerships. The Odyssey becomes IMAX’s biggest release
• Positive Sentiment: Demand for Dune: Part Three appears strong, with early 70mm IMAX screenings nearly selling out and reports of heavy ticket demand. This points to potentially robust attendance and premium-ticket economics for upcoming releases. Dune IMAX 70mm screenings nearly sell out
• Neutral Sentiment: IMAX amended Chief Legal Officer and Senior Executive Vice President Robert D. Lister’s employment agreement on August 19. The update may provide management continuity, but no major financial or strategic change was disclosed. IMAX extends chief legal officer agreement
• Negative Sentiment: CEO Richard Gelfond sold a combined 456,757 shares from August 18–20 for approximately $24 million, reducing his direct ownership by a sizable amount. The transactions were made under a pre-arranged Rule 10b5-1 plan, which lessens concerns about a sudden loss of confidence, but the selling could still pressure sentiment while IMAX trades at an elevated valuation. SEC insider trading filing

Insiders Place Their Bets

In other IMAX news, CEO Richard L. Gelfond sold 205,504 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $53.27, for a total transaction of $10,947,198.08. Following the completion of the transaction, the chief executive officer directly owned 765,002 shares in the company, valued at approximately $40,751,656.54. This trade represents a 21.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 456,757 shares of company stock worth $23,984,101. Company insiders own 20.55% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Benchmark restated a “buy” rating on shares of IMAX in a research report on Monday, June 22nd. Roth Capital increased their price target on shares of IMAX from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, July 24th. Wells Fargo & Company boosted their price objective on shares of IMAX from $41.00 to $45.00 and gave the stock an “equal weight” rating in a report on Friday, July 24th. JPMorgan Chase & Co. upped their target price on shares of IMAX from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Finally, B. Riley Financial upped their target price on shares of IMAX from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, IMAX currently has an average rating of “Moderate Buy” and an average price target of $51.55.

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.