Immersion Co. (IMMR) Director David Sugishita Sells 50,273 Shares

Immersion Co. (NASDAQ:IMMR) Director David Sugishita sold 50,273 shares of the business’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $9.59, for a total transaction of $482,118.07. Following the sale, the director now owns 82,136 shares in the company, valued at $787,684.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

David Sugishita also recently made the following trade(s):

  • On Friday, November 30th, David Sugishita sold 14,245 shares of Immersion stock. The stock was sold at an average price of $9.50, for a total transaction of $135,327.50.

Shares of NASDAQ IMMR traded down $0.26 during midday trading on Monday, reaching $9.23. The company’s stock had a trading volume of 213,400 shares, compared to its average volume of 662,358. Immersion Co. has a one year low of $6.31 and a one year high of $17.70. The company has a market capitalization of $292.32 million, a P/E ratio of -7.76, a PEG ratio of 0.37 and a beta of 0.94.

Immersion (NASDAQ:IMMR) last released its earnings results on Thursday, November 1st. The software maker reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. Immersion had a net margin of 42.23% and a return on equity of 62.41%. The business had revenue of $8.55 million for the quarter, compared to the consensus estimate of $9.47 million. During the same period in the previous year, the firm earned ($0.13) EPS. The business’s revenue for the quarter was down 27.9% on a year-over-year basis. As a group, analysts forecast that Immersion Co. will post 1.7 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Premia Global Advisors LLC bought a new stake in shares of Immersion in the 2nd quarter worth approximately $105,000. Tower Research Capital LLC TRC bought a new stake in shares of Immersion in the 2nd quarter worth approximately $162,000. First Quadrant L P CA bought a new stake in shares of Immersion in the 2nd quarter worth approximately $181,000. Engineers Gate Manager LP bought a new stake in shares of Immersion in the 2nd quarter worth approximately $200,000. Finally, Trexquant Investment LP bought a new stake in shares of Immersion in the 3rd quarter worth approximately $146,000. Institutional investors and hedge funds own 77.44% of the company’s stock.

A number of analysts have commented on the stock. Zacks Investment Research downgraded shares of Immersion from a “hold” rating to a “sell” rating in a research report on Wednesday, November 21st. ValuEngine downgraded shares of Immersion from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. Craig Hallum upgraded shares of Immersion from a “hold” rating to a “buy” rating and boosted their target price for the stock from $14.00 to $15.00 in a report on Wednesday, September 12th. Finally, BidaskClub upgraded shares of Immersion from a “strong sell” rating to a “sell” rating in a report on Thursday, November 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $14.06.

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Immersion Company Profile

Immersion Corporation creates, designs, develops, and licenses haptic technologies in North America, Europe, and Asia. Its technologies allow people to use their sense of touch when they engage with various digital products. The company offers TouchSense Lite and TouchSense Premium toolkits that enable original equipment manufacturers and their suppliers to add customized haptic technologies to their own branded devices and other products.

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Insider Buying and Selling by Quarter for Immersion (NASDAQ:IMMR)

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