Primecap Management Co. CA Purchases Shares of 273,500 IMAX Corporation $IMAX

Primecap Management Co. CA acquired a new position in shares of IMAX Corporation (NYSE:IMAX) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 273,500 shares of the company’s stock, valued at approximately $10,902,000. Primecap Management Co. CA owned about 0.50% of IMAX at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Pier Capital LLC grew its position in IMAX by 85.0% during the 4th quarter. Pier Capital LLC now owns 244,589 shares of the company’s stock worth $9,040,000 after purchasing an additional 112,397 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of IMAX by 76.3% during the first quarter. Principal Financial Group Inc. now owns 192,120 shares of the company’s stock worth $7,302,000 after buying an additional 83,118 shares during the period. Westfield Capital Management Co. LP increased its position in IMAX by 44.6% in the 4th quarter. Westfield Capital Management Co. LP now owns 2,346,486 shares of the company’s stock valued at $86,726,000 after acquiring an additional 723,861 shares during the period. Chase Investment Counsel Corp purchased a new stake in IMAX during the 4th quarter valued at approximately $3,070,000. Finally, Militia Capital Management LLC acquired a new stake in IMAX during the 1st quarter worth approximately $1,634,000. 93.51% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about IMAX

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: IMAX continues to benefit from strong audience interest in premium screenings, including reported ticket demand in New York and upcoming high-profile releases such as Akira, Dune: Part Three and the limited-run Queen Budapest concert film. These events could support box-office revenue and reinforce the value of IMAX’s format. IMAX ticket demand article Queen Budapest IMAX article
• Positive Sentiment: A new IMAX auditorium is planned for Mann Theatres’ Plymouth location, adding to the company’s theater network and potentially increasing future installation, maintenance and box-office participation revenue. Mann Theatres Plymouth IMAX article
• Positive Sentiment: Management will present at upcoming Bank of America and Goldman Sachs investor conferences in September. The appearances may provide additional detail on theater installations, film demand and growth plans, keeping institutional attention on the stock. IMAX investor conference announcement
• Neutral Sentiment: IMAX recently reached a new one-year high after a rally tied to enthusiasm for its immersive format and expectations that additional theater installations will drive earnings growth. However, the elevated valuation—approximately 73 times earnings—could make the stock sensitive to profit-taking or disappointing guidance. IMAX one-year high article
• Negative Sentiment: Chief Financial Officer Natasha Fernandes sold 20,000 shares for approximately $1.09 million, reducing her direct ownership by nearly 36%. Another insider, Kenneth Ian Weissman, sold 8,000 shares for about $436,000 and reduced his holdings by roughly 22%. Although insider sales do not necessarily indicate weakening fundamentals, the transactions can weigh on sentiment after the stock’s strong run. CFO SEC filing Insider SEC filing
• Negative Sentiment: The planned closure of AMC Kips Bay 15 in New York will remove an IMAX screen, highlighting the risk that theater shutdowns can offset new auditorium openings and reduce the company’s available exhibition footprint. AMC Kips Bay IMAX closure article

IMAX Price Performance

IMAX opened at $52.69 on Thursday. IMAX Corporation has a 1-year low of $27.67 and a 1-year high of $55.57. The stock has a market cap of $2.89 billion, a P/E ratio of 73.18, a P/E/G ratio of 1.73 and a beta of 0.38. The stock’s 50 day simple moving average is $45.27 and its 200 day simple moving average is $40.56.

IMAX (NYSE:IMAX) last posted its earnings results on Thursday, July 23rd. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.13. The company had revenue of $102.84 million for the quarter, compared to the consensus estimate of $96.09 million. IMAX had a return on equity of 15.47% and a net margin of 9.84%.IMAX’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 earnings per share. Research analysts expect that IMAX Corporation will post 1.49 EPS for the current fiscal year.

Insider Buying and Selling at IMAX

In other news, insider Kenneth Ian Weissman sold 8,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $54.54, for a total value of $436,320.00. Following the sale, the insider directly owned 28,205 shares in the company, valued at $1,538,300.70. This represents a 22.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Natasha Fernandes sold 20,000 shares of the company’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 value of $1,092,600.00. Following the completion of the sale, the chief financial officer directly 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 SEC filing for this sale provides additional information. Insiders have sold 484,757 shares of company stock valued at $25,513,021 over the last quarter. Corporate insiders own 20.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Weiss Ratings raised IMAX from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Barrington Research boosted their price target on shares of IMAX from $46.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $60.00 price objective on shares of IMAX in a report on Wednesday, August 19th. Wall Street Zen cut IMAX from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, JPMorgan Chase & Co. raised their price target on IMAX from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Ten analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, IMAX has a consensus rating of “Moderate Buy” and an average target price of $52.36.

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.