Northern Trust Corp Boosts Holdings in Immersion Co. (IMMR)

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Northern Trust Corp boosted its position in shares of Immersion Co. (NASDAQ:IMMR) by 0.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 361,820 shares of the software maker’s stock after buying an additional 2,649 shares during the quarter. Northern Trust Corp’s holdings in Immersion were worth $3,241,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Quantamental Technologies LLC bought a new stake in shares of Immersion during the 4th quarter valued at $42,000. Smith Asset Management Group LP bought a new stake in shares of Immersion during the 4th quarter valued at $167,000. B. Riley Financial Inc. bought a new stake in shares of Immersion during the 4th quarter valued at $170,000. MetLife Investment Advisors LLC raised its position in shares of Immersion by 55.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 21,774 shares of the software maker’s stock valued at $230,000 after acquiring an additional 7,745 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Immersion by 40.5% during the 4th quarter. Rhumbline Advisers now owns 35,811 shares of the software maker’s stock valued at $321,000 after acquiring an additional 10,316 shares during the last quarter. 79.10% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Immersion stock opened at $9.24 on Thursday. The firm has a market cap of $293.12 million, a price-to-earnings ratio of 5.31 and a beta of 1.00. Immersion Co. has a 52 week low of $7.89 and a 52 week high of $17.70.

Immersion (NASDAQ:IMMR) last released its quarterly earnings data on Tuesday, February 26th. The software maker reported ($0.10) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.09. Immersion had a net margin of 48.97% and a return on equity of 53.62%. The business had revenue of $10.87 million during the quarter, compared to analysts’ expectations of $9.05 million. During the same quarter in the prior year, the company earned ($0.29) EPS. The firm’s quarterly revenue was up 57.6% on a year-over-year basis. On average, equities research analysts forecast that Immersion Co. will post -0.99 earnings per share for the current fiscal year.

In related news, CFO Nancy Erba sold 3,554 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $8.32, for a total value of $29,569.28. Following the completion of the sale, the chief financial officer now owns 70,647 shares in the company, valued at approximately $587,783.04. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Anne Marie Peters sold 29,588 shares of the company’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $8.19, for a total transaction of $242,325.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,879 shares of company stock valued at $748,613. 18.59% of the stock is owned by corporate insiders.

IMMR has been the subject of several recent research reports. ValuEngine upgraded shares of Immersion from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. Zacks Investment Research cut shares of Immersion from a “hold” rating to a “sell” rating in a research report on Wednesday, December 26th. B. Riley cut shares of Immersion from a “buy” rating to a “neutral” rating and dropped their target price for the company from $18.00 to $9.50 in a research report on Wednesday, February 27th. Finally, BidaskClub upgraded shares of Immersion from a “strong sell” rating to a “sell” rating in a research report on Thursday, February 7th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $13.17.

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About Immersion

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 patent licenses, haptic technologies to original equipment manufacturers.

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Institutional Ownership by Quarter for Immersion (NASDAQ:IMMR)

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