Immersion Corporation (IMMR) Major Shareholder Raging Capital Management, Llc Acquires 154,997 Shares
Immersion Corporation (NASDAQ:IMMR) major shareholder Raging Capital Management, Llc purchased 154,997 shares of Immersion stock in a transaction that occurred on Friday, December 1st. The stock was bought at an average cost of $7.27 per share, for a total transaction of $1,126,828.19. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases 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 stock was bought 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 trading on Wednesday, reaching $7.28. 602,000 shares of the company’s stock traded hands, compared to its average volume of 247,441. Immersion Corporation has a one year low of $5.76 and a one year high of $11.92.
Immersion (NASDAQ:IMMR) last issued its earnings results on Thursday, November 2nd. The software maker reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $11.90 million for the quarter, compared to analysts’ expectations of $7.33 million. During the same period in the prior year, the business earned $0.34 EPS. The firm’s quarterly revenue was down 54.8% on a year-over-year basis. equities analysts anticipate that Immersion Corporation will post -1.12 earnings per share for the current year.
Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted 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 buying an additional 69,383 shares in the last quarter. Geode Capital Management LLC boosted 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 buying an additional 7,191 shares in the last quarter. Dimensional Fund Advisors LP boosted 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 buying an additional 38,284 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. Finally, Alliancebernstein L.P. bought a new stake in shares of Immersion in the 2nd quarter valued at about $232,000. Institutional investors own 78.98% of the company’s stock.
IMMR has been the topic of several recent research reports. ValuEngine upgraded shares of Immersion from a “strong sell” rating to a “sell” rating in a report on Friday, December 1st. Zacks Investment Research upgraded 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 reiterated a “buy” rating and set a $9.75 target price on shares of Immersion in a report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The stock presently 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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