Nokomis Capital L.L.C. Acquires 690,110 Shares of Immersion Co. (IMMR)
Nokomis Capital L.L.C. raised its holdings in Immersion Co. (NASDAQ:IMMR) by 69.8% during the fourth quarter, Holdings Channel reports. The fund owned 1,679,154 shares of the software maker’s stock after purchasing an additional 690,110 shares during the period. Immersion comprises about 2.7% of Nokomis Capital L.L.C.’s holdings, making the stock its 17th largest holding. Nokomis Capital L.L.C. owned approximately 0.06% of Immersion worth $11,855,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Immersion by 7.5% in the second 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 during the last quarter. B. Riley Financial Inc. raised its holdings in Immersion by 76.7% in the third quarter. B. Riley Financial Inc. now owns 147,453 shares of the software maker’s stock worth $1,205,000 after purchasing an additional 64,013 shares during the period. PEAK6 Investments L.P. raised its holdings in Immersion by 265.8% in the third quarter. PEAK6 Investments L.P. now owns 201,832 shares of the software maker’s stock worth $1,649,000 after purchasing an additional 146,653 shares during the period. University of Notre Dame DU Lac acquired a new stake in Immersion in the third quarter worth $5,810,000. Finally, Vident Investment Advisory LLC raised its holdings in Immersion by 60.9% in the third quarter. Vident Investment Advisory LLC now owns 1,393,439 shares of the software maker’s stock worth $11,384,000 after purchasing an additional 527,185 shares during the period. 79.17% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Anne Marie Peters sold 4,435 shares of the firm’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $11.87, for a total transaction of $52,643.45. Following the sale, the vice president now directly owns 67,545 shares in the company, valued at $801,759.15. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Nancy Erba sold 3,799 shares of the firm’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $11.87, for a total transaction of $45,094.13. Following the sale, the chief financial officer now owns 10,000 shares in the company, valued at $118,700. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,179 shares of company stock worth $251,918. 7.22% of the stock is currently owned by company insiders.
Immersion (NASDAQ:IMMR) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01. Immersion had a negative net margin of 129.35% and a negative return on equity of 146.48%. The business had revenue of $6.90 million for the quarter, compared to analyst estimates of $6.32 million. During the same period last year, the business posted ($0.27) earnings per share. The firm’s quarterly revenue was down 25.8% on a year-over-year basis. equities research analysts expect that Immersion Co. will post 1.1 EPS for the current fiscal year.
Several research firms have weighed in on IMMR. BidaskClub upgraded shares of Immersion from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 28th. Zacks Investment Research upgraded shares of Immersion from a “sell” rating to a “hold” rating in a report on Friday, March 2nd. B. Riley reiterated a “buy” rating and issued a $12.25 target price on shares of Immersion in a report on Tuesday, January 30th. Dougherty & Co reiterated a “buy” rating and issued a $14.00 target price (up from $10.00) on shares of Immersion in a report on Friday, February 23rd. Finally, Craig Hallum increased their target price on shares of Immersion from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $12.25.
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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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