Strs Ohio grew its position in shares of Immersion Co. (NASDAQ:IMMR) by 83.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,267 shares of the software maker’s stock after buying an additional 28,767 shares during the period. Strs Ohio’s holdings in Immersion were worth $668,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in Immersion by 9.6% during the 2nd quarter. BlackRock Inc. now owns 2,057,280 shares of the software maker’s stock worth $31,765,000 after purchasing an additional 179,655 shares in the last quarter. Northern Trust Corp lifted its holdings in Immersion by 6.9% during the 2nd quarter. Northern Trust Corp now owns 394,823 shares of the software maker’s stock worth $6,096,000 after purchasing an additional 25,470 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in Immersion during the 2nd quarter worth about $4,688,000. Mackay Shields LLC lifted its holdings in Immersion by 378.5% during the 2nd quarter. Mackay Shields LLC now owns 242,600 shares of the software maker’s stock worth $3,745,000 after purchasing an additional 191,900 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Immersion by 219.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 202,999 shares of the software maker’s stock worth $3,135,000 after purchasing an additional 139,354 shares in the last quarter. 77.36% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on IMMR shares. Craig Hallum upgraded Immersion from a “hold” rating to a “buy” rating and upped their target price for the stock from $14.00 to $15.00 in a research note on Wednesday, September 12th. Zacks Investment Research upgraded Immersion from a “sell” rating to a “hold” rating in a research note on Wednesday, October 3rd. BidaskClub lowered Immersion from a “buy” rating to a “hold” rating in a research note on Friday, July 13th. Finally, ValuEngine lowered Immersion from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $14.06.
Shares of NASDAQ IMMR opened at $9.21 on Friday. The stock has a market capitalization of $356.91 million, a price-to-earnings ratio of -7.74, a price-to-earnings-growth ratio of 0.37 and a beta of 0.92. Immersion Co. has a twelve month low of $5.76 and a twelve month 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 for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. The business had revenue of $8.55 million for the quarter, compared to analyst estimates of $9.47 million. Immersion had a return on equity of 62.41% and a net margin of 42.23%. The company’s quarterly revenue was down 27.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.13) EPS. On average, equities analysts predict that Immersion Co. will post 1.7 earnings per share for the current fiscal year.
In other Immersion news, CEO Thomas A. Lacey bought 6,000 shares of the firm’s stock in a transaction on Thursday, November 8th. The shares were acquired at an average cost of $9.50 per share, for a total transaction of $57,000.00. Following the purchase, the chief executive officer now directly owns 37,000 shares of the company’s stock, valued at $351,500. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 18.59% of the stock is owned by corporate insiders.
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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.
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