Immersion Co. (NASDAQ:IMMR) CEO Thomas A. Lacey bought 6,000 shares of the business’s stock in a transaction on Thursday, November 8th. The shares were acquired at an average price of $9.50 per share, with a total value of $57,000.00. Following the transaction, the chief executive officer now owns 37,000 shares of the company’s stock, valued at approximately $351,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
IMMR traded up $0.03 during midday trading on Friday, reaching $9.24. 8,182 shares of the company’s stock were exchanged, compared to its average volume of 251,543. The stock has a market cap of $356.91 million, a P/E ratio of -7.81, a PEG ratio of 0.37 and a beta of 0.92. Immersion Co. has a 1-year low of $5.76 and a 1-year high of $17.70.
Immersion (NASDAQ:IMMR) last announced its earnings results on Thursday, November 1st. The software maker reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. The company had revenue of $8.55 million during the quarter, compared to analysts’ expectations of $9.47 million. Immersion had a net margin of 42.23% and a return on equity of 62.41%. The firm’s quarterly revenue was down 27.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.13) earnings per share. Research analysts predict that Immersion Co. will post 1.7 earnings per share for the current fiscal year.
A number of equities analysts have issued reports on the stock. Zacks Investment Research cut shares of Immersion from a “hold” rating to a “sell” rating in a research report on Thursday. BidaskClub upgraded shares of Immersion from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 1st. ValuEngine cut shares of Immersion from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. Finally, Craig Hallum upgraded shares of Immersion from a “hold” rating to a “buy” rating and lifted their target price for the stock from $14.00 to $15.00 in a research report on Wednesday, September 12th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. Immersion currently has an average rating of “Hold” and an average price target of $14.06.
Several large investors have recently bought and sold shares of the company. Premia Global Advisors LLC acquired a new position in shares of Immersion in the second quarter valued at approximately $105,000. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Immersion by 7.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 132,207 shares of the software maker’s stock valued at $1,397,000 after buying an additional 8,838 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Immersion by 8.5% in the second quarter. Bank of New York Mellon Corp now owns 122,470 shares of the software maker’s stock valued at $1,891,000 after buying an additional 9,545 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Immersion by 30.8% in the third quarter. Alliancebernstein L.P. now owns 44,350 shares of the software maker’s stock valued at $469,000 after buying an additional 10,450 shares during the last quarter. Finally, Tower Research Capital LLC TRC acquired a new position in shares of Immersion in the second quarter valued at approximately $162,000. 77.36% of the stock is owned by institutional investors and hedge funds.
Immersion Company Profile
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 Story: Conference Calls
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.