Sowell Financial Services LLC Makes New Investment in IMAX Corporation $IMAX

Sowell Financial Services LLC bought a new stake in IMAX Corporation (NYSE:IMAX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 56,698 shares of the company’s stock, valued at approximately $3,107,000.

A number of other hedge funds have also modified their holdings of the business. Sterling Capital Management LLC increased its position in IMAX by 838.9% during the third quarter. Sterling Capital Management LLC now owns 1,521 shares of the company’s stock worth $83,000 after buying an additional 1,359 shares in the last quarter. Global Retirement Partners LLC acquired a new position in IMAX in the second quarter valued at $85,000. Nykredit A S purchased a new stake in IMAX in the 2nd quarter valued at about $105,000. Stronghold Wealth Management L.L.C. acquired a new position in shares of IMAX during the 3rd quarter valued at about $200,000. Finally, State of Wyoming purchased a new stake in IMAX in the second quarter valued at approximately $192,000. 93.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at IMAX

In other news, CFO Natasha Fernandes sold 20,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 35,596 shares in the company, valued at approximately $1,944,609.48. This trade represents a 35.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the insider directly owned 28,205 shares of the company’s stock, valued at $1,538,300.70. This trade represents a 22.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 507,257 shares of company stock valued at $26,673,571. Corporate insiders own 20.55% of the company’s stock.

IMAX Price Performance

IMAX stock opened at $50.60 on Friday. The company has a market cap of $2.77 billion, a PE ratio of 70.28, a P/E/G ratio of 1.32 and a beta of 0.49. The company has a fifty day moving average price of $52.49 and a two-hundred day moving average price of $42.87. IMAX Corporation has a 12 month low of $31.27 and a 12 month high of $57.73.

Analyst Ratings Changes

A number of analysts have recently commented on IMAX shares. The Goldman Sachs Group upped their price objective on IMAX from $42.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, September 4th. Wall Street Zen upgraded shares of IMAX from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. Weiss Ratings raised shares of IMAX from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. JPMorgan Chase & Co. upped their price objective on shares of IMAX from $50.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, October 23rd. Finally, Wells Fargo & Company increased their price target on IMAX from $45.00 to $55.00 and gave the company an “equal weight” rating in a report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.15.

IMAX News Summary

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: “Dune” franchise re-release should support IMAX attendance. “Dune” and “Dune: Part Two” are returning to IMAX theaters, with an exclusive preview of “Dune: Part Three.” The event could generate premium-format ticket sales and renewed interest ahead of the next installment. Dune and Dune: Part Two return to IMAX theatres with exclusive Dune: Part Three sneak peek
• Positive Sentiment: Recent audience coverage highlights the premium IMAX experience. Reports describing strong consumer interest in IMAX Laser for “Resident Evil” and the first Japanese film filmed for IMAX, “Godzilla -0.0,” reinforce demand for differentiated large-screen presentations, although these reports are less financially significant than major studio releases. Resident Evil in IMAX Laser
• Neutral Sentiment: Potential scheduling conflict in India could affect individual titles. “Godzilla Minus Zero” may face a delayed Indian release because “Ramayana” reportedly has IMAX exclusivity. This could reduce IMAX showtimes for one film, but the impact on IMAX Corporation is uncertain and may reflect normal screen-allocation decisions. Godzilla Minus Zero India release may be delayed
• Negative Sentiment: Netflix’s Brad Pitt-led “Cliff Booth” will not play on Regal or Cinemark IMAX screens. The decision removes a prominent upcoming title from two major U.S. theater chains, limiting potential premium-screen admissions and highlighting continuing friction between Netflix’s release strategy and theatrical exhibitors. Netflix’s Cliff Booth will not play on Cinemark or Regal’s IMAX screens

IMAX Profile

IMAX Corporation (NYSE: IMAX) is a global entertainment technology company that specializes in premium large-format cinema experiences. The company designs and supplies specialized theater systems that combine large screens, high-resolution projection, advanced sound, and immersive theater design to present feature films, documentaries, live events, and other content.

IMAX supports its theater partners with projection and sound equipment, theater design and installation services, and technology and maintenance support.