Activist Marcato Discloses New Stake in Theater Operator Imax

(Bloomberg) -- Marcato Capital Management, the activist fund run by Mick McGuire, disclosed a new 5.1 percent stake in Canadian movie theater operator Imax Corp.

The San Francisco-based hedge fund also added a new position in real estate investment trust CorePoint Lodging Inc. during the second quarter, according to a regulatory filing Tuesday.

A representative for Marcato declined to comment on the new positions.

Paul Sweeney, an analyst with Bloomberg Intelligence, said in a July 26 report that Imax’s cost-cutting initiatives should help improve its profit and margin.

Marcato also disclosed the following portfolio changes:

  • Increased its positions in Terex Corp. and Gentherm Inc.
  • Sold down positions in IAC/InterActiveCorp., Itron Inc., DXC Technology Co., Builders FirstSource Inc., AAR Corp., Trinity Place Holdings Inc. and Virtus Investment Partners Inc.

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