Insider Buying: Immersion Corp. major shareholder Purchases 1,536 Shares of Stock (IMMR)
Immersion Corp. (NASDAQ:IMMR) major shareholder Rima Senvest Management, L.L.C purchased 1,536 shares of the company’s stock on the open market in a transaction dated Wednesday, November 12th. The shares were purchased at an average price of $12.43 per share, with a total value of $19,092.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
A number of research firms have recently commented on IMMR. 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 given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $16.25.
Immersion Corp. (NASDAQ:IMMR) opened at 10.50 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 $298.0 million and a P/E ratio of 7.71.
Immersion Corp. (NASDAQ:IMMR) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.05 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.06 earnings per share. Immersion Corp.’s revenue was up 15.7% compared to the same quarter last year. On average, analysts predict that Immersion Corp. will post $0.33 earnings per share for the current fiscal year.
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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