Immersion Corporation (IMMR) Major Shareholder Raging Capital Management, Llc Buys 411,998 Shares
Immersion Corporation (NASDAQ:IMMR) major shareholder Raging Capital Management, Llc bought 411,998 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was bought at an average cost of $7.31 per share, with a total value of $3,011,705.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 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 Friday, December 1st, Raging Capital Management, Llc bought 154,997 shares of Immersion stock. The stock was bought at an average cost of $7.27 per share, with a total value of $1,126,828.19.
Shares of Immersion Corporation (NASDAQ:IMMR) traded down $0.12 during trading on Wednesday, hitting $7.28. 602,000 shares of the company traded hands, compared to its average volume of 247,441. Immersion Corporation has a one year low of $5.76 and a one year high of $11.92.
Immersion (NASDAQ:IMMR) last issued its quarterly earnings results on Thursday, November 2nd. The software maker reported ($0.10) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.16. The business had revenue of $11.90 million for the quarter, compared to analysts’ expectations of $7.33 million. Immersion had a negative net margin of 190.18% and a negative return on equity of 100.50%. The business’s quarterly revenue was down 54.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 earnings per share. analysts forecast that Immersion Corporation will post -1.12 EPS for the current year.
A number of equities research analysts recently commented on IMMR shares. Zacks Investment Research lowered Immersion from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. B. Riley restated a “buy” rating and issued a $9.75 price target on shares of Immersion in a research report on Monday, October 30th. Finally, ValuEngine raised Immersion from a “sell” rating to a “hold” rating in a research note 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 issued a buy rating to the company. Immersion has a consensus rating of “Buy” and a consensus price target of $10.17.
Large investors have recently bought and sold shares of the business. Voya Investment Management LLC increased its stake in Immersion by 14.1% in the 2nd quarter. Voya Investment Management LLC now owns 20,218 shares of the software maker’s stock valued at $184,000 after buying an additional 2,501 shares during the last quarter. Sei Investments Co. purchased a new position in Immersion in the 2nd quarter worth $221,000. ETF Managers Group LLC purchased a new position in Immersion in the 2nd quarter worth $221,000. Alliancebernstein L.P. purchased a new position in Immersion in the 2nd quarter worth $232,000. Finally, The Manufacturers Life Insurance Company raised its position in Immersion by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,835 shares of the software maker’s stock worth $234,000 after purchasing an additional 1,929 shares during the period. Hedge funds and other institutional investors own 78.98% of the company’s stock.
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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