Immersion Corporation (NASDAQ:IMMR) major shareholder Raging Capital Management, Llc purchased 326,366 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was purchased at an average cost of $6.58 per share, with a total value of $2,147,488.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% 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 Tuesday, December 12th, Raging Capital Management, Llc purchased 166,350 shares of Immersion stock. The stock was purchased at an average cost of $7.08 per share, with a total value of $1,177,758.00.
  • On Thursday, December 7th, Raging Capital Management, Llc purchased 372,771 shares of Immersion stock. The stock was purchased at an average cost of $7.25 per share, with a total value of $2,702,589.75.
  • On Friday, December 1st, Raging Capital Management, Llc purchased 154,997 shares of Immersion stock. The stock was purchased at an average cost of $7.27 per share, with a total value of $1,126,828.19.
  • On Monday, December 4th, Raging Capital Management, Llc purchased 411,998 shares of Immersion stock. The stock was purchased at an average cost of $7.31 per share, with a total value of $3,011,705.38.

Shares of Immersion Corporation (IMMR) traded down $0.16 during trading hours on Friday, reaching $6.50. 1,701,863 shares of the company’s stock traded hands, compared to its average volume of 256,685. Immersion Corporation has a 52-week low of $5.76 and a 52-week high of $11.92.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings results on Thursday, November 2nd. The software maker reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.16. Immersion had a negative net margin of 190.18% and a negative return on equity of 100.50%. The firm had revenue of $11.90 million for the quarter, compared to analysts’ expectations of $7.33 million. During the same period in the previous year, the firm posted $0.34 EPS. The company’s revenue for the quarter was down 54.8% on a year-over-year basis. sell-side analysts anticipate that Immersion Corporation will post -1.12 earnings per share for the current fiscal year.

Several brokerages have recently issued reports on IMMR. Zacks Investment Research lowered shares of Immersion from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. B. Riley reaffirmed a “buy” rating and issued a $9.75 target price on shares of Immersion in a research note on Monday, October 30th. Finally, ValuEngine raised shares of Immersion from a “sell” rating to a “hold” rating in a research note on Saturday, September 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $10.17.

Large investors have recently modified their holdings of the business. Voya Investment Management LLC lifted its position in Immersion by 14.1% during the 2nd quarter. Voya Investment Management LLC now owns 20,218 shares of the software maker’s stock worth $184,000 after buying an additional 2,501 shares in the last quarter. Sei Investments Co. bought a new stake in shares of Immersion in the 2nd quarter valued at about $221,000. ETF Managers Group LLC bought a new stake in shares of Immersion in the 2nd quarter valued at about $221,000. Alliancebernstein L.P. bought a new stake in shares of Immersion in the 2nd quarter valued at about $232,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of 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 period. 78.98% of the stock is currently owned by hedge funds and other institutional investors.

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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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