Senvest Management LLC lowered its stake in Immersion Co. (NASDAQ:IMMR) by 62.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,673,033 shares of the software maker’s stock after selling 2,773,564 shares during the period. Immersion accounts for about 1.8% of Senvest Management LLC’s holdings, making the stock its 17th biggest holding. Senvest Management LLC owned 0.05% of Immersion worth $25,832,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. EAM Investors LLC bought a new position in Immersion in the second quarter valued at approximately $1,135,000. Stifel Financial Corp bought a new position in Immersion in the first quarter valued at approximately $128,000. Schwab Charles Investment Management Inc. lifted its stake in Immersion by 12.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 63,645 shares of the software maker’s stock valued at $761,000 after buying an additional 7,100 shares in the last quarter. Millennium Management LLC bought a new position in Immersion in the first quarter valued at approximately $13,044,000. Finally, ETF Managers Group LLC lifted its stake in Immersion by 65.4% in the first quarter. ETF Managers Group LLC now owns 140,243 shares of the software maker’s stock valued at $1,635,000 after buying an additional 55,437 shares in the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.
Shares of IMMR opened at $10.91 on Thursday. Immersion Co. has a twelve month low of $5.76 and a twelve month high of $17.70. The company has a market capitalization of $357.55 million, a price-to-earnings ratio of -9.17, a P/E/G ratio of 0.44 and a beta of 0.88.
Immersion (NASDAQ:IMMR) last announced its quarterly earnings data on Thursday, August 2nd. The software maker reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.09). The business had revenue of $6.14 million during the quarter, compared to the consensus estimate of $9.56 million. Immersion had a return on equity of 86.57% and a net margin of 40.38%. The business’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.51) EPS. equities research analysts expect that Immersion Co. will post 1.75 EPS for the current year.
A number of brokerages have weighed in on IMMR. Zacks Investment Research lowered shares of Immersion from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. Craig Hallum cut their price target on shares of Immersion from $17.00 to $14.00 and set a “hold” rating on the stock in a research note on Friday, August 3rd. BidaskClub lowered shares of Immersion from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. ValuEngine lowered shares of Immersion from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Finally, Dougherty & Co lowered shares of Immersion from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 26th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Immersion presently has a consensus rating of “Hold” and an average price target of $13.81.
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.
Featured Article: Price to Earnings Ratio (PE), For Valuing Stocks
Want to see what other hedge funds are holding IMMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Immersion Co. (NASDAQ:IMMR).
Receive News & Ratings for Immersion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Immersion and related companies with MarketBeat.com's FREE daily email newsletter.