Raging Capital Management, Llc Purchases 154,997 Shares of Immersion Corporation (IMMR) Stock

Immersion Corporation (NASDAQ:IMMR) major shareholder Raging Capital Management, Llc acquired 154,997 shares of Immersion stock in a transaction that occurred on Friday, December 1st. The stock was bought at an average price of $7.27 per share, with a total value of $1,126,828.19. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own at least 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 acquired 411,998 shares of Immersion stock. The stock was bought at an average price of $7.31 per share, with a total value of $3,011,705.38.

Immersion Corporation (NASDAQ IMMR) opened at $7.20 on Thursday. Immersion Corporation has a twelve month low of $5.76 and a twelve month high of $11.92.

Immersion (NASDAQ:IMMR) last posted its earnings results on Thursday, November 2nd. The software maker reported ($0.10) earnings per share for the quarter, beating 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 firm had revenue of $11.90 million during the quarter, compared to the consensus estimate of $7.33 million. During the same period last year, the firm posted $0.34 EPS. The firm’s revenue for the quarter was down 54.8% on a year-over-year basis. sell-side analysts expect that Immersion Corporation will post -1.12 earnings per share for the current year.

A number of large investors have recently bought and sold shares of the business. Vident Investment Advisory LLC increased its holdings in Immersion by 60.9% during the 3rd 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 in the last quarter. Vanguard Group Inc. increased its holdings in Immersion by 7.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,283,298 shares of the software maker’s stock valued at $11,653,000 after acquiring an additional 89,010 shares in the last quarter. University of Notre Dame DU Lac purchased a new position in Immersion during the 3rd quarter valued at about $5,810,000. State Street Corp increased its holdings in Immersion by 11.8% during the 2nd quarter. State Street Corp now owns 542,672 shares of the software maker’s stock valued at $4,927,000 after acquiring an additional 57,476 shares in the last quarter. Finally, Cooper Creek Partners Management LLC purchased a new position in Immersion during the 2nd quarter valued at about $3,827,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Several analysts recently commented on IMMR shares. B. Riley reiterated a “buy” rating and issued a $9.75 price objective on shares of Immersion in a research note on Monday, October 30th. ValuEngine cut shares of Immersion from a “sell” rating to a “strong sell” rating in a research note on Friday, November 17th. Finally, Zacks Investment Research upgraded shares of Immersion from a “hold” rating to a “buy” rating and set a $7.25 price objective for the company in a research note on Thursday, November 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $10.17.

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About Immersion

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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