Immersion Corporation (NASDAQ:IMMR) major shareholder Raging Capital Management, Llc purchased 411,998 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were purchased at an average cost of $7.31 per share, with a total value of $3,011,705.38. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

  • On Friday, December 1st, Raging Capital Management, Llc purchased 154,997 shares of Immersion stock. The shares were purchased at an average cost of $7.27 per share, with a total value of $1,126,828.19.

Shares of Immersion Corporation (NASDAQ:IMMR) traded down $0.12 during trading hours on Tuesday, reaching $7.28. 602,000 shares of the company traded hands, compared to its average volume of 247,441. Immersion Corporation has a fifty-two week low of $5.76 and a fifty-two week high of $11.92.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings data on Thursday, November 2nd. The software maker reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.16. The business had revenue of $11.90 million during the quarter, compared to the consensus estimate of $7.33 million. Immersion had a negative net margin of 190.18% and a negative return on equity of 100.50%. The firm’s revenue was down 54.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 EPS. equities analysts expect that Immersion Corporation will post -1.12 earnings per share for the current year.

A number of analysts have recently weighed in on the stock. ValuEngine raised shares of Immersion from a “strong sell” rating to a “sell” rating in a report on Friday. Zacks Investment Research raised shares of Immersion from a “hold” rating to a “buy” rating and set a $7.25 price target for the company in a report on Thursday, November 9th. Finally, B. Riley reaffirmed a “buy” rating and set a $9.75 price target on shares of Immersion in a report on Monday, October 30th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $10.17.

A number of large investors have recently modified their holdings of IMMR. Voya Investment Management LLC lifted its stake in Immersion by 14.1% in the 2nd quarter. Voya Investment Management LLC now owns 20,218 shares of the software maker’s stock valued at $184,000 after purchasing an additional 2,501 shares during the last quarter. ETF Managers Group LLC bought a new position in Immersion in the 2nd quarter valued at approximately $221,000. Sei Investments Co. bought a new position in Immersion in the 2nd quarter valued at approximately $221,000. Alliancebernstein L.P. bought a new position in Immersion in the 2nd quarter valued at approximately $232,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Immersion by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,835 shares of the software maker’s stock valued at $234,000 after purchasing an additional 1,929 shares during the last quarter. 78.98% of the stock is owned by institutional investors and hedge funds.

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Immersion Company Profile

Immersion Corporation is a licensing company focused on the creation, design, development and licensing of haptic technologies that allow people to use their sense of touch when operating digital devices. The Company develops, licenses and supports a range of software and intellectual property (IP). It is focused on the markets, including mobile devices, wearables, consumer, mobile entertainment and other content; console gaming; automotive; medical, and commercial.

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

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