Raging Capital Management, Llc Buys 411,998 Shares of Immersion Corporation (IMMR) Stock

Immersion Corporation (NASDAQ:IMMR) major shareholder Raging Capital Management, Llc bought 411,998 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were acquired at an average price of $7.31 per share, with a total value of $3,011,705.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions 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 shares were acquired at an average price of $7.27 per share, with a total value of $1,126,828.19.

Immersion Corporation (NASDAQ:IMMR) opened at $7.20 on Thursday. Immersion Corporation has a 1-year low of $5.76 and a 1-year high of $11.92.

Immersion (NASDAQ:IMMR) last released its quarterly earnings results on Thursday, November 2nd. The software maker reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.16. The business had revenue of $11.90 million during the quarter, compared to analysts’ expectations of $7.33 million. Immersion had a negative return on equity of 100.50% and a negative net margin of 190.18%. The firm’s revenue for the quarter was down 54.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 EPS. equities analysts expect that Immersion Corporation will post -1.12 EPS for the current year.

Several research firms recently issued reports on IMMR. Zacks Investment Research cut Immersion from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. B. Riley reiterated a “buy” rating and set a $9.75 target price on shares of Immersion in a research report on Monday, October 30th. Finally, ValuEngine upgraded Immersion from a “sell” rating to a “hold” rating in a research report on Saturday, September 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. Immersion presently has an average rating of “Buy” and an average target price of $10.17.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMMR. University of Notre Dame DU Lac purchased a new position in Immersion during the 3rd quarter valued at approximately $5,810,000. Vident Investment Advisory LLC grew 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 buying an additional 527,185 shares in the last quarter. Cooper Creek Partners Management LLC purchased a new position in Immersion during the 2nd quarter valued at approximately $3,827,000. PEAK6 Investments L.P. grew its holdings in Immersion by 265.8% during the 3rd quarter. PEAK6 Investments L.P. now owns 201,832 shares of the software maker’s stock valued at $1,649,000 after buying an additional 146,653 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Immersion during the 3rd quarter valued at approximately $1,179,000. Institutional investors and hedge funds own 78.98% of the company’s stock.

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Immersion Company Profile

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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