Nantahala Capital Management LLC Takes Position in IMAX Corporation $IMAX

Nantahala Capital Management LLC bought a new stake in IMAX Corporation (NYSE:IMAX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 658,009 shares of the company’s stock, valued at approximately $26,228,239. IMAX accounts for about 0.0% of Nantahala Capital Management LLC’s holdings, making the stock its 24th largest position. Nantahala Capital Management LLC owned 1.20% of IMAX at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of IMAX. Caitong International Asset Management Co. Ltd raised its position in shares of IMAX by 28.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,489 shares of the company’s stock valued at $55,000 after acquiring an additional 332 shares during the last quarter. ProShare Advisors LLC raised its position in shares of IMAX by 6.8% during the fourth quarter. ProShare Advisors LLC now owns 8,000 shares of the company’s stock worth $296,000 after purchasing an additional 511 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in IMAX by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 108,781 shares of the company’s stock valued at $4,021,000 after buying an additional 546 shares in the last quarter. Quarry LP lifted its position in IMAX by 166.8% in the 4th quarter. Quarry LP now owns 875 shares of the company’s stock valued at $32,000 after acquiring an additional 547 shares in the last quarter. Finally, State of Wyoming lifted its holdings in shares of IMAX by 7.6% in the first quarter. State of Wyoming now owns 7,910 shares of the company’s stock valued at $301,000 after purchasing an additional 562 shares in the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on IMAX. The Goldman Sachs Group restated a “neutral” rating and set a $42.00 target price on shares of IMAX in a report on Thursday, July 23rd. Seaport Research Partners reissued a “buy” rating and set a $50.00 price target on shares of IMAX in a research report on Wednesday, June 24th. Barrington Research upped their price objective on IMAX from $46.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $60.00 price objective on shares of IMAX in a research note on Friday, May 22nd. Finally, Weiss Ratings raised IMAX from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Ten research 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 a consensus target price of $52.36.

Key IMAX News

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: The Odyssey is returning to IMAX screens in India after being displaced by Toxic, while its London BFI IMAX engagement has been extended. The developments point to strong audience demand and could support premium-format box-office revenue. The Odyssey returns in India The Odyssey London extension
• Positive Sentiment: Netflix’s upcoming Cliff Booth film is set for an IMAX release, adding another high-profile title to the company’s pipeline. A first Japanese IMAX film, Godzilla Minus Zero, is also scheduled for November, potentially broadening international content demand. Netflix IMAX release Godzilla Minus Zero IMAX release
• Positive Sentiment: A theater in Indiana is marking its 30th anniversary with an IMAX laser-projection upgrade, supporting demand for higher-quality systems and potential installation-related revenue. Zacks also characterizes IMAX as a strong momentum stock. IMAX laser upgrade Zacks momentum analysis
• Neutral Sentiment: IMAX says it remains open to a sale, but no major buyers have emerged despite record box-office performance and substantial stock appreciation. The lack of a suitor removes a potential takeover catalyst, while continued independence leaves the company focused on organic growth. CNBC IMAX sale article
• Negative Sentiment: Insider Kenneth Ian Weissman sold 8,000 shares for approximately $436,000, reducing his position by 22.1%. The sale may weigh on sentiment, particularly after the stock’s strong rally, although it does not by itself demonstrate weakening fundamentals. IMAX insider sale

Insider Transactions at IMAX

In other news, insider Kenneth Ian Weissman sold 8,000 shares of IMAX stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $54.54, for a total transaction of $436,320.00. Following the completion of the sale, the insider owned 28,205 shares of the company’s stock, valued at approximately $1,538,300.70. This trade represents a 22.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Natasha Fernandes sold 20,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer directly owned 35,596 shares of the company’s stock, 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. Over the last 90 days, insiders sold 484,757 shares of company stock valued at $25,513,021. 20.55% of the stock is currently owned by corporate insiders.

IMAX Trading Down 2.8%

Shares of NYSE IMAX opened at $50.47 on Friday. The firm has a market cap of $2.77 billion, a P/E ratio of 70.10, a price-to-earnings-growth ratio of 1.66 and a beta of 0.38. IMAX Corporation has a 1-year low of $28.14 and a 1-year high of $55.57. The business’s 50 day moving average is $45.55 and its 200-day moving average is $40.74.

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