Fondren Management LP boosted its position in Immersion Co. (NASDAQ:IMMR) by 50.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 135,000 shares of the software maker’s stock after buying an additional 45,000 shares during the quarter. Immersion makes up about 0.7% of Fondren Management LP’s holdings, making the stock its 26th largest position. Fondren Management LP’s holdings in Immersion were worth $953,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in IMMR. Northern Trust Corp increased its position in Immersion by 5.0% in the second quarter. Northern Trust Corp now owns 385,824 shares of the software maker’s stock worth $3,503,000 after buying an additional 18,517 shares during the last quarter. Vanguard Group Inc. increased its position in Immersion by 7.5% in the second quarter. Vanguard Group Inc. now owns 1,283,298 shares of the software maker’s stock worth $11,653,000 after buying an additional 89,010 shares during the last quarter. Voya Investment Management LLC increased its position in Immersion by 14.1% in the second 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 during the last quarter. Goldman Sachs Group Inc. increased its position in Immersion by 4.7% in the second quarter. Goldman Sachs Group Inc. now owns 36,404 shares of the software maker’s stock worth $331,000 after buying an additional 1,621 shares during the last quarter. Finally, State Street Corp increased its position in Immersion by 11.8% in the second quarter. State Street Corp now owns 542,672 shares of the software maker’s stock worth $4,927,000 after buying an additional 57,476 shares during the last quarter. 79.17% of the stock is owned by institutional investors and hedge funds.
A number of research firms have issued reports on IMMR. BidaskClub raised Immersion from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 28th. Zacks Investment Research raised Immersion from a “sell” rating to a “hold” rating in a research report on Friday, March 2nd. B. Riley reissued a “buy” rating and issued a $12.25 target price on shares of Immersion in a research report on Tuesday, January 30th. Dougherty & Co reissued a “buy” rating and issued a $14.00 target price (up from $10.00) on shares of Immersion in a research report on Friday, February 23rd. Finally, Craig Hallum raised their target price on Immersion from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.25.
In related news, VP Anne Marie Peters sold 4,435 shares of Immersion stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $11.87, for a total transaction of $52,643.45. Following the completion of the sale, the vice president now owns 67,545 shares of the company’s stock, valued at $801,759.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Nancy Erba sold 3,799 shares of Immersion stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $11.87, for a total value of $45,094.13. Following the sale, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $118,700. The disclosure for this sale can be found here. Insiders sold 21,179 shares of company stock valued at $251,918 over the last ninety days. Corporate insiders own 7.22% of the company’s stock.
Immersion Co. (NASDAQ IMMR) opened at $12.70 on Wednesday. Immersion Co. has a twelve month low of $5.76 and a twelve month high of $12.85. The company has a market capitalization of $373.29, a price-to-earnings ratio of -8.19, a PEG ratio of 0.77 and a beta of 1.63.
Immersion (NASDAQ:IMMR) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported ($0.21) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.01. Immersion had a negative return on equity of 146.48% and a negative net margin of 129.35%. The firm had revenue of $6.90 million during the quarter, compared to analyst estimates of $6.32 million. During the same period last year, the company earned ($0.27) earnings per share. The business’s revenue for the quarter was down 25.8% on a year-over-year basis. equities analysts predict that Immersion Co. will post 1.1 EPS for the current fiscal year.
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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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