Raging Capital Management, Llc Purchases 154,997 Shares of Immersion Corporation (IMMR) Stock
Immersion Corporation (NASDAQ:IMMR) major shareholder Raging Capital Management, Llc purchased 154,997 shares of the business’s stock in a transaction on Friday, December 1st. The shares were acquired at an average cost of $7.27 per share, for a total transaction of $1,126,828.19. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Raging Capital Management, Llc also recently made the following trade(s):
- On Monday, December 4th, Raging Capital Management, Llc purchased 411,998 shares of Immersion stock. The shares were acquired at an average cost of $7.31 per share, for a total transaction of $3,011,705.38.
Shares of Immersion Corporation (NASDAQ:IMMR) traded down $0.12 during mid-day trading on Tuesday, hitting $7.28. 602,000 shares of the stock were exchanged, compared to its average volume of 247,441. Immersion Corporation has a 12 month low of $5.76 and a 12 month high of $11.92.
Several hedge funds have recently modified their holdings of IMMR. Vanguard Group Inc. raised its holdings in shares of Immersion by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 1,194,288 shares of the software maker’s stock valued at $10,342,000 after purchasing an additional 69,383 shares during the period. Geode Capital Management LLC raised its holdings in shares of Immersion by 3.0% in the 1st quarter. Geode Capital Management LLC now owns 249,334 shares of the software maker’s stock valued at $2,159,000 after purchasing an additional 7,191 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Immersion by 12.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 347,922 shares of the software maker’s stock valued at $3,013,000 after purchasing an additional 38,284 shares during the period. Sei Investments Co. bought a new stake in shares of Immersion in the 2nd quarter valued at about $221,000. Finally, Alliancebernstein L.P. acquired a new position in Immersion in the 2nd quarter valued at about $232,000. 78.98% of the stock is currently owned by institutional investors.
IMMR has been the topic of several analyst reports. ValuEngine raised shares of Immersion from a “strong sell” rating to a “sell” rating in a research report on Friday. Zacks Investment Research raised shares of Immersion from a “hold” rating to a “buy” rating and set a $7.25 target price on the stock in a report on Thursday, November 9th. Finally, B. Riley began coverage on shares of Immersion in a report on Thursday, August 10th. They issued a “buy” rating and a $9.75 target price on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $10.17.
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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.
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