Insider Buying: Immersion Co. (NASDAQ:IMMR) Major Shareholder Purchases $154,800.00 in Stock

Immersion Co. (NASDAQ:IMMR) major shareholder Raging Capital Management, Llc acquired 20,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average price of $7.74 per share, for a total transaction of $154,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Raging Capital Management, Llc also recently made the following trade(s):

  • On Wednesday, August 7th, Raging Capital Management, Llc acquired 2,499 shares of Immersion stock. The stock was purchased at an average price of $7.65 per share, for a total transaction of $19,117.35.
  • On Monday, August 5th, Raging Capital Management, Llc acquired 40,000 shares of Immersion stock. The stock was purchased at an average price of $7.77 per share, for a total transaction of $310,800.00.

Shares of IMMR opened at $7.94 on Friday. The firm’s 50-day moving average is $7.62. Immersion Co. has a twelve month low of $7.02 and a twelve month high of $11.95. The company has a market capitalization of $246.12 million, a PE ratio of 4.56 and a beta of 1.15.

Immersion (NASDAQ:IMMR) last announced its quarterly earnings results on Thursday, August 1st. The software maker reported ($0.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.09). Immersion had a negative net margin of 82.38% and a negative return on equity of 28.16%. The company had revenue of $8.70 million for the quarter, compared to the consensus estimate of $8.68 million. During the same quarter in the prior year, the company earned ($0.18) earnings per share. The company’s quarterly revenue was up 42.6% on a year-over-year basis. On average, sell-side analysts expect that Immersion Co. will post -0.54 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in IMMR. Bank of New York Mellon Corp increased its position in shares of Immersion by 57.5% during the fourth quarter. Bank of New York Mellon Corp now owns 186,925 shares of the software maker’s stock valued at $1,674,000 after buying an additional 68,226 shares during the period. Northern Trust Corp increased its position in shares of Immersion by 0.7% during the fourth quarter. Northern Trust Corp now owns 361,820 shares of the software maker’s stock valued at $3,241,000 after buying an additional 2,649 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Immersion by 20.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 824,751 shares of the software maker’s stock valued at $7,390,000 after buying an additional 139,241 shares during the period. Two Sigma Investments LP increased its position in shares of Immersion by 57.9% during the fourth quarter. Two Sigma Investments LP now owns 73,229 shares of the software maker’s stock valued at $656,000 after buying an additional 26,858 shares during the period. Finally, Bank of America Corp DE increased its position in shares of Immersion by 48.9% during the fourth quarter. Bank of America Corp DE now owns 18,700 shares of the software maker’s stock valued at $167,000 after buying an additional 6,142 shares during the period. Hedge funds and other institutional investors own 74.62% of the company’s stock.

A number of brokerages recently issued reports on IMMR. BidaskClub upgraded Immersion from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. ValuEngine upgraded Immersion from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. TheStreet cut Immersion from a “c” rating to a “d” rating in a research note on Friday, May 31st. Craig Hallum restated a “buy” rating and issued a $12.00 price objective (down from $14.00) on shares of Immersion in a research note on Friday, August 2nd. Finally, Dougherty & Co upgraded Immersion from a “neutral” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Tuesday, May 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $10.81.

About Immersion

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 patent licenses, haptic technologies to original equipment manufacturers.

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

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