Peregrine Capital Management LLC Sells 54,976 Shares of IMAX Corporation $IMAX

Peregrine Capital Management LLC cut its position in IMAX Corporation (NYSE:IMAX) by 26.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 153,056 shares of the company’s stock after selling 54,976 shares during the quarter. Peregrine Capital Management LLC owned about 0.28% of IMAX worth $5,657,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Orbis Allan Gray Ltd grew its stake in shares of IMAX by 31.7% in the second quarter. Orbis Allan Gray Ltd now owns 5,113,033 shares of the company’s stock valued at $142,960,000 after buying an additional 1,230,267 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in shares of IMAX in the third quarter valued at $53,141,000. Nantahala Capital Management LLC grew its stake in shares of IMAX by 24.9% in the second quarter. Nantahala Capital Management LLC now owns 1,133,993 shares of the company’s stock valued at $31,706,000 after buying an additional 225,742 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of IMAX by 0.3% in the third quarter. Victory Capital Management Inc. now owns 1,083,992 shares of the company’s stock valued at $35,501,000 after buying an additional 3,494 shares in the last quarter. Finally, Divisadero Street Capital Management LP bought a new position in IMAX during the third quarter worth $20,975,000. 93.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on IMAX. Weiss Ratings reiterated a “buy (b)” rating on shares of IMAX in a report on Monday, December 29th. Benchmark upped their price objective on shares of IMAX from $42.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Macquarie Infrastructure upped their price objective on shares of IMAX from $39.00 to $44.00 and gave the company an “outperform” rating in a report on Thursday, January 15th. Wedbush reissued an “outperform” rating and issued a $46.00 price target on shares of IMAX in a report on Thursday. Finally, Seaport Research Partners increased their price target on shares of IMAX from $43.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, IMAX currently has a consensus rating of “Moderate Buy” and an average target price of $43.70.

IMAX News Roundup

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: Wedbush reiterated an “outperform” rating and set a $46 price target (about 25% upside vs. the current price), supporting upside expectations from the sell-side. Wedbush Reaffirms Outperform, $46 PT
• Positive Sentiment: Rosenblatt Securities issued a “Buy” rating, adding to analyst support that can help sustain investor confidence. Rosenblatt Buy Rating
• Positive Sentiment: High-profile content deals and event tie-ins keep IMAX’s long-term growth story intact: A24’s Elden Ring adaptation will be released “IMAX-big” in 2028, and recent Star Wars/Mandalorian previews and Star Wars Day IMAX events increase promotional momentum for premium theatrical experiences. Elden Ring IMAX Announcement Star Wars Day IMAX Event
• Positive Sentiment: Industry coverage highlights IMAX benefiting from a broader theatrical shift toward premium formats — a structural tailwind for screen count, pricing power and unit economics. IMAX Thrives as Theaters Embrace Premium Innovation
• Negative Sentiment: Disney’s decision to largely exclude IMAX for the tentpole “Avengers: Doomsday” is a clear near-term revenue headwind and has puzzled analysts, reducing expectations for one major franchise to drive premium-ticket revenue. Disney Puzzles Analysts with Avengers IMAX Snub
• Negative Sentiment: Reports that Disney is launching its own Infinity Vision initiative and that IMAX is reportedly prioritizing titles like Dune 3 over some Disney tentpoles raise strategic risk around future studio distribution choices and platform competition. Disney Launches Infinity Vision; IMAX Reportedly Backs Dune 3
• Negative Sentiment: Insider selling: filings show CEO Richard Gelfond sold shares (two filings disclosed) and coverage highlights ~$4.5M in sales — a potential sentiment dampener even if sales are disclosed as routine or pre-planned. Investors will watch for follow-up commentary on the reason for the sales. Gelfond Sells 41,737 Shares Gelfond Sells 34,182 Shares Fool: CEO Sells $4.5M

Insider Transactions at IMAX

In other news, insider Kevin Douglas sold 330,200 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $37.82, for a total value of $12,488,164.00. Following the completion of the sale, the insider owned 3,657,450 shares of the company’s stock, valued at approximately $138,324,759. The trade was a 8.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard L. Gelfond sold 34,182 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $37.06, for a total transaction of $1,266,784.92. Following the completion of the sale, the chief executive officer directly owned 765,002 shares of the company’s stock, valued at approximately $28,350,974.12. The trade was a 4.28% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 1,045,341 shares of company stock valued at $39,728,689. 23.18% of the stock is currently owned by company insiders.

IMAX Stock Performance

Shares of IMAX stock opened at $36.65 on Friday. The firm has a 50-day moving average of $38.21 and a 200-day moving average of $36.25. The stock has a market cap of $1.98 billion, a PE ratio of 59.10, a PEG ratio of 1.65 and a beta of 0.41. IMAX Corporation has a 52-week low of $22.54 and a 52-week high of $43.16.

IMAX (NYSE:IMAX) last announced its earnings results on Wednesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.15. The company had revenue of $125.21 million during the quarter, compared to analysts’ expectations of $120.30 million. IMAX had a net margin of 8.50% and a return on equity of 13.53%. IMAX’s quarterly revenue was up 35.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 earnings per share. Equities research analysts predict that IMAX Corporation will post 1.31 earnings per share 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.