Will IMAX’s New Credit Facility Be A Good Thing For These Top Institutional Shareholders?

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IMAX Corporation (NASDAQ:IMAX) replaced a previous $110 million credit facility with an amended senior secured credit facility for up to $200 million with Wells Fargo Bank (NYSE:WFC) and various participating Canadian financial institutions. The new facility will allow IMAX to undertake up to $150 million in stock buybacks and dividends that are subjected to conditions. The facility could also be used for general corporate purposes, refinancing the existing revolving facility, global expansion and working capital requirements. “This new facility, coupled with the recurring cash generated by our business, will provide us with enhanced flexibility as we pursue our strategic initiatives and continue the global expansion of our business,” said Richard L. Gelfond, Chief Executive Officer of IMAX.

Will  IMAX Corporation’s shareholders increase their holdings? They reported owning a total of 11.369 million shares on 12/31/2012. The shares closed at $22.48 on 12/31/2012.

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Here are the ten largest positions in IMAX Corporation at the end of December 31st, 2012.

Frontier Capital Management Co. LLC. held 3,638,398 shares on 12/31/2012 worth $81,791,185. This brought the portfolio total to 0.88%.

Baillie gifford & Co. held 1,142,400 shares on 12/31/2012 worth $25,681,151. This brought the portfolio total to 0.09%.

Great West Life Assurance Co. /Can/ held 1,062,310 shares on 12/31/2012 worth $23,880,728. This brought the portfolio total to 0.16%.

Ing Investment Management Co. held 903,565 shares on 12/31/2012 worth $20,312,141. This brought the portfolio total to 0.06%.

Kalmar Investments Inc. /DE/ held 841,833 shares on 12/31/2012 worth $18,924,405. This brought the portfolio total to 0.44%.

Turner Investments L.P. held 763,340 shares on 12/31/2012 worth $17,159,883. This brought the portfolio total to 0.18%.

Stephens Investment Management Group LLC. held 754,956 shares on 12/31/2012 worth $16,971,411. This brought the portfolio total to 1.22%.

BMO Financial Corp. held 553,746 shares on 12/31/2012 worth $12,448,210. This brought the portfolio total to 0.01%.

Manning & Napier Advisors LLP. held 349,890 shares on 12/31/2012 worth $7,865,527. This brought the portfolio total to 0.04%.

Zweig-Dimenna Associates LLC. held 239,226 shares on 12/31/2012 worth $5,377,800. This brought the portfolio total to 0.24%.

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