Immersion Target of Unusually Large Options Trading (IMMR)

Immersion Co. (NASDAQ:IMMR) saw unusually large options trading activity on Friday. Traders acquired 390 put options on the stock. This is an increase of approximately 413% compared to the typical volume of 76 put options.

Immersion (IMMR) opened at $7.06 on Monday. The firm has a market cap of $206.51, a price-to-earnings ratio of -2.88 and a beta of 1.35. Immersion has a 52-week low of $5.76 and a 52-week high of $11.85.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings data on Thursday, November 2nd. The software maker reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $11.90 million for the quarter, compared to analyst estimates of $7.33 million. During the same period last year, the business posted $0.34 earnings per share. The firm’s quarterly revenue was down 54.8% on a year-over-year basis. equities analysts anticipate that Immersion will post -1.12 EPS for the current fiscal year.

IMMR has been the topic of a number of recent research reports. B. Riley reaffirmed a “buy” rating and issued a $9.75 price objective on shares of Immersion in a research note on Monday, October 30th. ValuEngine raised shares of Immersion from a “strong sell” rating to a “sell” rating in a research note on Friday, December 1st. Finally, Zacks Investment Research raised shares of Immersion from a “hold” rating to a “buy” rating and set a $7.25 price objective on the stock in a research note on Thursday, November 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Immersion presently has an average rating of “Buy” and an average price target of $10.17.

In related news, major shareholder Raging Capital Management, Llc purchased 411,998 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was acquired at an average price of $7.31 per share, with a total value of $3,011,705.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have bought 1,432,482 shares of company stock valued at $10,166,370. Company insiders own 7.22% of the company’s stock.

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Immersion by 7.5% during the second quarter. Vanguard Group Inc. now owns 1,283,298 shares of the software maker’s stock worth $11,653,000 after acquiring an additional 89,010 shares during the period. B. Riley Financial Inc. raised its holdings in shares of Immersion by 76.7% during the third quarter. B. Riley Financial Inc. now owns 147,453 shares of the software maker’s stock worth $1,205,000 after acquiring an additional 64,013 shares during the period. TIAA CREF Investment Management LLC raised its holdings in shares of Immersion by 32.3% during the second quarter. TIAA CREF Investment Management LLC now owns 99,785 shares of the software maker’s stock worth $906,000 after acquiring an additional 24,384 shares during the period. University of Notre Dame DU Lac acquired a new stake in Immersion in the 3rd quarter valued at $5,810,000. Finally, PEAK6 Investments L.P. increased its stake in Immersion by 265.8% in 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 during the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

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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.

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