Immersion Corporation (NASDAQ:IMMR) major shareholder Raging Capital Management, Llc acquired 372,771 shares of Immersion stock in a transaction dated Thursday, December 7th. The shares were acquired at an average price of $7.25 per share, with a total value of $2,702,589.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large 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 Friday, December 1st, Raging Capital Management, Llc acquired 154,997 shares of Immersion stock. The shares were acquired at an average price of $7.27 per share, with a total value of $1,126,828.19.
- On Monday, December 4th, Raging Capital Management, Llc acquired 411,998 shares of Immersion stock. The shares were acquired at an average price of $7.31 per share, with a total value of $3,011,705.38.
Immersion Corporation (NASDAQ IMMR) traded down $0.05 during trading on Thursday, reaching $7.15. 313,645 shares of the company traded hands, compared to its average volume of 248,052. Immersion Corporation has a 1-year low of $5.76 and a 1-year high of $11.92.
Immersion (NASDAQ:IMMR) last released its quarterly earnings results on Thursday, November 2nd. The software maker reported ($0.10) earnings per share 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 business 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 company earned $0.34 earnings per share. The firm’s revenue for the quarter was down 54.8% compared to the same quarter last year. analysts predict that Immersion Corporation will post -1.12 EPS for the current year.
A number of brokerages have recently issued reports on IMMR. Zacks Investment Research cut shares of Immersion from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. B. Riley reiterated a “buy” rating and set a $9.75 price objective on shares of Immersion in a report on Monday, October 30th. Finally, ValuEngine upgraded shares of Immersion from a “sell” rating to a “hold” rating in a report on Saturday, September 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Immersion presently has a consensus rating of “Buy” and an average target price of $10.17.
A number of institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP purchased a new position in Immersion during the third quarter worth about $1,179,000. Jane Street Group LLC boosted its stake in Immersion by 199.2% in the third quarter. Jane Street Group LLC now owns 29,154 shares of the software maker’s stock valued at $238,000 after acquiring an additional 58,555 shares during the last quarter. Vident Investment Advisory LLC boosted its stake in Immersion by 60.9% in the third quarter. Vident Investment Advisory LLC now owns 1,393,439 shares of the software maker’s stock valued at $11,384,000 after acquiring an additional 527,185 shares during the last quarter. PEAK6 Investments L.P. boosted its stake in Immersion by 265.8% in the third quarter. PEAK6 Investments L.P. now owns 201,832 shares of the software maker’s stock valued at $1,649,000 after acquiring an additional 146,653 shares during the last quarter. Finally, B. Riley Financial Inc. boosted its stake in Immersion by 76.7% in the third quarter. B. Riley Financial Inc. now owns 147,453 shares of the software maker’s stock valued at $1,205,000 after acquiring an additional 64,013 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.
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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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