Keebeck Wealth Management Makes New $567,000 Investment in IMAX Corporation $IMAX

Keebeck Wealth Management purchased a new position in IMAX Corporation (NYSE:IMAX) in the second quarter, HoldingsChannel.com reports. The fund purchased 14,227 shares of the company’s stock, valued at approximately $567,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. CIBC Private Wealth Group LLC acquired a new position in IMAX in the 3rd quarter valued at about $27,000. Quarry LP boosted its stake in shares of IMAX by 166.8% during the 4th quarter. Quarry LP now owns 875 shares of the company’s stock worth $32,000 after purchasing an additional 547 shares during the last quarter. Torren Management LLC acquired a new stake in shares of IMAX during the 4th quarter worth about $40,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of IMAX by 2,310.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,157 shares of the company’s stock worth $38,000 after buying an additional 1,109 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd grew its holdings in shares of IMAX by 863.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,666 shares of the company’s stock worth $62,000 after buying an additional 1,493 shares in the last quarter. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on IMAX shares. Wedbush boosted their price objective on shares of IMAX from $46.00 to $54.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Wall Street Zen cut shares of IMAX from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings raised shares of IMAX from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Roth Capital boosted their price target on IMAX from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, B. Riley Financial raised their price objective on IMAX from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.55.

IMAX Price Performance

NYSE IMAX opened at $52.93 on Friday. IMAX Corporation has a 12 month low of $26.17 and a 12 month high of $54.50. The company has a 50-day moving average of $44.65 and a 200-day moving average of $40.15. The company has a market cap of $2.90 billion, a P/E ratio of 73.51, a P/E/G ratio of 1.74 and a beta of 0.38.

IMAX (NYSE:IMAX) last announced its quarterly earnings data 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 net margin of 9.84% and a return on equity of 15.47%. The business had revenue of $102.84 million for the quarter, compared to analyst estimates of $96.09 million. During the same period in the prior year, the firm posted $0.26 EPS. The company’s revenue was up 12.2% on a year-over-year basis. As a group, equities research analysts anticipate that IMAX Corporation will post 1.44 EPS for the current year.

IMAX News Summary

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: Rosenblatt Securities reiterated a Buy rating and established a $60 price target, signaling continued confidence in IMAX’s growth prospects and potential upside. Rosenblatt reiterates Buy rating
• Positive Sentiment: The Odyssey has reportedly surpassed $1.29 billion globally and become IMAX’s biggest release ever. The result highlights strong audience demand for IMAX presentations and could support additional box-office-related revenue and future studio partnerships. The Odyssey becomes IMAX’s biggest release
• Positive Sentiment: Demand for Dune: Part Three appears strong, with early 70mm IMAX screenings nearly selling out and reports of heavy ticket demand. This points to potentially robust attendance and premium-ticket economics for upcoming releases. Dune IMAX 70mm screenings nearly sell out
• Neutral Sentiment: IMAX amended Chief Legal Officer and Senior Executive Vice President Robert D. Lister’s employment agreement on August 19. The update may provide management continuity, but no major financial or strategic change was disclosed. IMAX extends chief legal officer agreement
• Negative Sentiment: CEO Richard Gelfond sold a combined 456,757 shares from August 18–20 for approximately $24 million, reducing his direct ownership by a sizable amount. The transactions were made under a pre-arranged Rule 10b5-1 plan, which lessens concerns about a sudden loss of confidence, but the selling could still pressure sentiment while IMAX trades at an elevated valuation. SEC insider trading filing

Insider Buying and Selling

In related news, CEO Richard L. Gelfond sold 205,504 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $53.27, for a total transaction of $10,947,198.08. Following the completion of the transaction, the chief executive officer owned 765,002 shares of the company’s stock, valued at approximately $40,751,656.54. This represents a 21.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 456,757 shares of company stock worth $23,984,101 over the last ninety days. Corporate insiders own 20.55% of the company’s stock.

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.