Insider Selling: Rima Senvest Management, L.L.C Unloads 1,040 Shares of Immersion Corp. Stock (IMMR)
Immersion Corp. (NASDAQ:IMMR) major shareholder Rima Senvest Management, L.L.C sold 1,040 shares of the company’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $14.43, for a total transaction of $15,007.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of Immersion Corp. (NASDAQ:IMMR) traded up 2.00% during mid-day trading on Monday, hitting $10.71. 88,945 shares of the company’s stock traded hands. Immersion Corp. has a 1-year low of $9.69 and a 1-year high of $14.86. The stock has a 50-day moving average of $12.69 and a 200-day moving average of $11.39. The company has a market cap of $304.0 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 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.
Several analysts have recently commented on the stock. 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average 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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