Strs Ohio Purchases Shares of 34,500 Immersion Co. (IMMR)

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Strs Ohio purchased a new position in Immersion Co. (NASDAQ:IMMR) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 34,500 shares of the software maker’s stock, valued at approximately $532,000.

Several other large investors also recently made changes to their positions in the business. Millennium Management LLC acquired a new stake in shares of Immersion in the first quarter worth about $13,044,000. Mackay Shields LLC lifted its position in shares of Immersion by 378.5% in the second quarter. Mackay Shields LLC now owns 242,600 shares of the software maker’s stock worth $3,745,000 after buying an additional 191,900 shares during the last quarter. Baird Financial Group Inc. acquired a new stake in shares of Immersion in the first quarter worth about $2,621,000. Acadian Asset Management LLC acquired a new stake in shares of Immersion in the second quarter worth about $3,091,000. Finally, ETF Managers Group LLC lifted its position in shares of Immersion by 65.4% in the first quarter. ETF Managers Group LLC now owns 140,243 shares of the software maker’s stock worth $1,635,000 after buying an additional 55,437 shares during the last quarter. 75.94% of the stock is owned by institutional investors.

NASDAQ IMMR opened at $10.82 on Friday. Immersion Co. has a twelve month low of $5.76 and a twelve month high of $17.70. The stock has a market cap of $335.71 million, a P/E ratio of 6.57, a price-to-earnings-growth ratio of 0.42 and a beta of 0.88.

Immersion (NASDAQ:IMMR) last posted its quarterly earnings data on Thursday, August 2nd. The software maker reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.09). Immersion had a return on equity of 86.57% and a net margin of 40.38%. The business had revenue of $6.14 million for the quarter, compared to analyst estimates of $9.56 million. During the same period in the prior year, the firm posted ($0.51) EPS. Immersion’s revenue for the quarter was down 12.6% on a year-over-year basis. analysts forecast that Immersion Co. will post 1.75 earnings per share for the current fiscal year.

Several equities analysts recently weighed in on the company. BidaskClub raised Immersion from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 13th. ValuEngine raised Immersion from a “hold” rating to a “buy” rating in a research report on Monday, June 11th. Craig Hallum cut Immersion from a “buy” rating to a “hold” rating and set a $8.00 price objective for the company. in a research report on Monday, June 18th. Dougherty & Co cut Immersion from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 26th. Finally, Zacks Investment Research cut Immersion from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 12th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $13.81.

About Immersion

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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Institutional Ownership by Quarter for Immersion (NASDAQ:IMMR)

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