Immersion Corp. SVP Dennis Gerard Sheehan Sells 50,000 Shares (IMMR)
Immersion Corp. (NASDAQ:IMMR) SVP Dennis Gerard Sheehan unloaded 50,000 shares of Immersion Corp. stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $14.03, for a total value of $701,500.00. Following the completion of the transaction, the senior vice president now directly owns 52,143 shares in the company, valued at approximately $731,566. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Immersion Corp. (NASDAQ:IMMR) traded up 1.93% during mid-day trading on Friday, hitting $14.28. The stock had a trading volume of 445,125 shares. Immersion Corp. has a 52-week low of $9.69 and a 52-week high of $16.73. The stock’s 50-day moving average is $11.59 and its 200-day moving average is $11.13. The company has a market cap of $404.8 million and a price-to-earnings ratio of 10.30.
Immersion Corp. (NASDAQ:IMMR) last released its earnings data on Thursday, May 1st. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by $0.06. The company had revenue of $15.40 million for the quarter, compared to the consensus estimate of $15.55 million. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Analysts expect that Immersion Corp. will post $0.41 EPS for the current fiscal year.
IMMR has been the subject of a number of recent research reports. Analysts at TheStreet downgraded shares of Immersion Corp. from a “buy” rating to a “hold” rating in a research note on Friday, May 23rd. Separately, analysts at B. Riley reiterated a “buy” rating on shares of Immersion Corp. in a research note on Thursday, May 15th. They now have a $16.50 price target on the stock. Finally, analysts at B. Riley reiterated a “buy” rating on shares of Immersion Corp. in a research note on Wednesday, May 7th. They now have a $16.50 price target on the stock. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Immersion Corp. currently has a consensus rating of “Buy” and an average target price of $16.25.
Immersion Corporation (NASDAQ:IMMR) is a provider of haptic technologies that allow people to use their sense of touch when operating a variety of digital devices.
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