Principal Financial Group Inc. Buys 83,118 Shares of IMAX Corporation $IMAX

Principal Financial Group Inc. lifted its stake in IMAX Corporation (NYSE:IMAX) by 76.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 192,120 shares of the company’s stock after acquiring an additional 83,118 shares during the period. Principal Financial Group Inc. owned 0.35% of IMAX worth $7,302,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Orbis Allan Gray Ltd boosted its position in IMAX by 31.7% during the second quarter. Orbis Allan Gray Ltd now owns 5,113,033 shares of the company’s stock valued at $142,960,000 after purchasing an additional 1,230,267 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in IMAX by 44.6% in the fourth quarter. Westfield Capital Management Co. LP now owns 2,346,486 shares of the company’s stock worth $86,726,000 after purchasing an additional 723,861 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of IMAX by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,213,829 shares of the company’s stock valued at $44,864,000 after buying an additional 20,863 shares during the last quarter. Nantahala Capital Management LLC lifted its position in shares of IMAX by 24.9% during 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 during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of IMAX by 1.9% in the 4th quarter. Victory Capital Management Inc. now owns 1,104,071 shares of the company’s stock valued at $40,806,000 after buying an additional 20,079 shares in the last quarter. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IMAX. Seaport Research Partners reaffirmed a “buy” rating and issued a $50.00 price objective on shares of IMAX in a research report on Wednesday, June 24th. HC Wainwright reissued a “buy” rating on shares of IMAX in a research report on Friday. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $60.00 target price on shares of IMAX in a research note on Friday, May 22nd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $42.00 price target on shares of IMAX in a report on Thursday. Finally, Benchmark reaffirmed a “buy” rating on shares of IMAX in a research report on Monday, June 22nd. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $50.36.

IMAX Stock Up 3.9%

IMAX opened at $45.08 on Tuesday. The company has a market cap of $2.48 billion, a P/E ratio of 62.61, a price-to-earnings-growth ratio of 1.59 and a beta of 0.37. The firm’s 50-day moving average price is $40.21 and its 200-day moving average price is $38.11. IMAX Corporation has a 52-week low of $24.20 and a 52-week high of $45.88.

IMAX (NYSE:IMAX) last released 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 during the quarter, compared to analysts’ expectations of $96.09 million. IMAX had a net margin of 9.84% and a return on equity of 15.47%. IMAX’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period last year, the business earned $0.26 EPS. On average, research analysts anticipate that IMAX Corporation will post 1.3 EPS for the current fiscal year.

Key IMAX News

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: The Odyssey has generated approximately $140 million in global IMAX box office, reinforcing the film’s importance to IMAX’s current revenue outlook and demonstrating continued consumer willingness to pay for premium large-format presentations. The Odyssey reaches $140 million in global IMAX box office
• Positive Sentiment: The film has surpassed $600 million globally after two weekends, while industry coverage describes a meaningful “Nolan effect” driving demand for IMAX screenings. IMAX catches a tailwind from The Odyssey
• Positive Sentiment: IMAX China is preparing to show The Odyssey across nearly 800 screens, expanding the film’s potential international contribution and highlighting the breadth of the company’s global network. Imax China prepares full The Odyssey rollout
• Positive Sentiment: Wells Fargo, Wedbush, and Barrington Research analysts reportedly expect further upside, adding to bullish sentiment following IMAX’s earnings beat. The company previously reported quarterly EPS of $0.43 versus a $0.30 consensus estimate and revenue of $102.84 million versus $96.09 million expected.
• Neutral Sentiment: Resales of scarce IMAX tickets and extensive coverage of 70mm presentations indicate strong consumer interest, although these stories do not directly change IMAX’s financial forecasts.
• Negative Sentiment: A 70mm projector failure temporarily disrupted screenings at one theater before service resumed. The incident appears localized, but it underscores maintenance and availability risks associated with IMAX’s aging specialized projection equipment. Screenings resume at King of Prussia theater

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.