Legal & General Group Plc Makes New Investment in IMAX Corporation $IMAX

Legal & General Group Plc purchased a new stake in shares of IMAX Corporation (NYSE:IMAX) in the second quarter, HoldingsChannel.com reports. The fund purchased 40,031 shares of the company’s stock, valued at approximately $1,596,000.

Several other institutional investors have also modified their holdings of the company. AQR Capital Management LLC increased its stake in IMAX by 47.9% in the 1st quarter. AQR Capital Management LLC now owns 56,348 shares of the company’s stock valued at $1,485,000 after purchasing an additional 18,238 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in IMAX by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,486 shares of the company’s stock worth $672,000 after purchasing an additional 1,091 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in IMAX by 7.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,714 shares of the company’s stock valued at $4,208,000 after purchasing an additional 11,736 shares during the last quarter. Creative Planning grew its holdings in IMAX by 84.1% in the second quarter. Creative Planning now owns 16,081 shares of the company’s stock valued at $450,000 after purchasing an additional 7,344 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of IMAX in the second quarter valued at $709,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Analyst Ratings Changes

IMAX has been the subject of several research reports. The Goldman Sachs Group lifted their price target on IMAX from $42.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday. B. Riley Financial increased their price objective on shares of IMAX from $52.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, August 24th. Barrington Research raised their target price on shares of IMAX from $46.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Rosenblatt Securities restated a “buy” rating and set a $60.00 target price on shares of IMAX in a research report on Wednesday, August 19th. Finally, Wedbush upped their price target on shares of IMAX from $46.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Ten analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $54.00.

IMAX Stock Up 0.2%

NYSE IMAX opened at $51.72 on Monday. IMAX Corporation has a fifty-two week low of $28.93 and a fifty-two week high of $55.57. The business has a fifty day moving average of $46.36 and a 200-day moving average of $41.31. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 71.83, a price-to-earnings-growth ratio of 1.60 and a beta of 0.40.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.13. The business had revenue of $102.84 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.26 earnings per share. As a group, analysts anticipate that IMAX Corporation will post 1.53 EPS for the current year.

Insider Buying and Selling at IMAX

In other news, insider Kenneth Weissman sold 8,000 shares of IMAX stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $54.54, for a total transaction of $436,320.00. Following the completion of the sale, the insider directly owned 28,205 shares in the company, valued at $1,538,300.70. The trade was a 22.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Natasha Fernandes sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $54.63, for a total transaction of $1,092,600.00. Following the completion of the transaction, the chief financial officer directly owned 35,596 shares of the company’s stock, valued at approximately $1,944,609.48. This represents a 35.97% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 484,757 shares of company stock worth $25,513,021. Corporate insiders own 20.55% of the company’s stock.

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.

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.