Insider Buying: Immersion Corp. major shareholder Acquires 619 Shares of Stock (IMMR)
Immersion Corp. (NASDAQ:IMMR) major shareholder Rima Senvest Management, L.L.C bought 619 shares of Immersion Corp. stock on the open market in a transaction dated Wednesday, August 27th. The shares were purchased at an average cost of $12.64 per share, with a total value of $7,824.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Immersion Corp. (NASDAQ:IMMR) opened at 10.52 on Monday. Immersion Corp. has a 52 week low of $9.69 and a 52 week high of $14.86. The stock’s 50-day moving average is $12.69 and its 200-day moving average is $11.39. The company has a market cap of $298.6 million and a P/E ratio of 7.71.
Immersion Corp. (NASDAQ:IMMR) last announced its earnings results on Thursday, July 31st. The company reported $0.05 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.08 by $0.03. The company had revenue of $11.80 million for the quarter, compared to the consensus estimate of $13.23 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. The company’s quarterly revenue was up 15.7% on a year-over-year basis. On average, analysts predict that Immersion Corp. will post $0.33 earnings per share 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 investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Immersion Corp. currently has an average rating of “Buy” and a consensus 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.