Immersion Co. (NASDAQ:IMMR) major shareholder Senvest Management, Llc sold 384,568 shares of the company’s stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $13.39, for a total transaction of $5,149,365.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Senvest Management, Llc also recently made the following trade(s):
- On Thursday, May 17th, Senvest Management, Llc sold 465,585 shares of Immersion stock. The shares were sold at an average price of $13.91, for a total transaction of $6,476,287.35.
Immersion opened at $12.94 on Wednesday, Marketbeat.com reports. The company has a market capitalization of $410.14 million, a P/E ratio of -10.87, a PEG ratio of 0.51 and a beta of 1.22. Immersion Co. has a 12-month low of $5.76 and a 12-month high of $14.23.
Immersion (NASDAQ:IMMR) last released its earnings results on Thursday, May 10th. The software maker reported $2.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.77. The company had revenue of $85.42 million during the quarter, compared to analyst estimates of $57.70 million. Immersion had a net margin of 33.68% and a return on equity of 118.96%. The firm’s quarterly revenue was up 826.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.39) EPS. analysts predict that Immersion Co. will post 1.76 earnings per share for the current fiscal year.
Several research firms have recently commented on IMMR. TheStreet raised shares of Immersion from a “d” rating to a “c” rating in a research report on Friday, May 11th. Zacks Investment Research raised shares of Immersion from a “sell” rating to a “hold” rating in a research report on Friday, March 2nd. ValuEngine raised shares of Immersion from a “sell” rating to a “hold” rating in a research report on Monday, April 2nd. BidaskClub lowered shares of Immersion from a “hold” rating to a “sell” rating in a research report on Friday, March 30th. Finally, B. Riley reaffirmed a “buy” rating and set a $12.25 price target on shares of Immersion in a research report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $13.85.
A number of institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC purchased a new stake in Immersion in the 1st quarter worth approximately $13,044,000. Cubist Systematic Strategies LLC purchased a new stake in Immersion in the 1st quarter worth approximately $287,000. ETF Managers Group LLC increased its holdings in Immersion by 65.4% in the 1st quarter. ETF Managers Group LLC now owns 140,243 shares of the software maker’s stock worth $1,635,000 after acquiring an additional 55,437 shares in the last quarter. A.R.T. Advisors LLC purchased a new stake in Immersion in the 1st quarter worth approximately $1,607,000. Finally, MetLife Investment Advisors LLC purchased a new stake in Immersion in the 1st quarter worth approximately $168,000. 78.86% of the stock is owned by institutional investors.
Immersion Corporation creates, designs, develops, and licenses haptic technologies in North America, Europe, and Asia. Its technologies allow people to use their sense of touch when they engage with various digital products. The company offers TouchSense Lite and TouchSense Premium toolkits that enable original equipment manufacturers and their suppliers to add customized haptic technologies to their own branded devices and other products.
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