PEAK6 Investments L.P. decreased its stake in shares of Immersion Co. (NASDAQ:IMMR) by 60.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,410 shares of the software maker’s stock after selling 122,422 shares during the period. PEAK6 Investments L.P. owned approximately 0.27% of Immersion worth $561,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Voya Investment Management LLC grew its position in Immersion by 14.1% in the second quarter. Voya Investment Management LLC now owns 20,218 shares of the software maker’s stock valued at $184,000 after purchasing an additional 2,501 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Immersion by 193.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 22,278 shares of the software maker’s stock valued at $157,000 after acquiring an additional 14,677 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Immersion by 8.1% in the second quarter. The Manufacturers Life Insurance Company now owns 25,835 shares of the software maker’s stock valued at $234,000 after acquiring an additional 1,929 shares during the last quarter. Jane Street Group LLC lifted its stake in Immersion by 199.2% in the third quarter. Jane Street Group LLC now owns 29,154 shares of the software maker’s stock valued at $238,000 after acquiring an additional 58,555 shares during the last quarter. Finally, OppenheimerFunds Inc. acquired a new stake in shares of Immersion during the 4th quarter worth about $248,000. 79.17% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on IMMR shares. Dougherty & Co restated a “buy” rating and set a $14.00 target price (up previously from $10.00) on shares of Immersion in a research note on Friday, February 23rd. Craig Hallum lifted their price objective on shares of Immersion from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. B. Riley reiterated a “buy” rating and issued a $12.25 price objective on shares of Immersion in a research note on Tuesday, January 30th. Zacks Investment Research lowered shares of Immersion from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Finally, BidaskClub raised shares of Immersion from a “sell” rating to a “hold” rating in a report on Friday, March 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Immersion currently has a consensus rating of “Buy” and an average target price of $12.25.
In related news, CFO Nancy Erba sold 3,799 shares of the stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $11.87, for a total transaction of $45,094.13. Following the completion of the transaction, the chief financial officer now owns 10,000 shares in the company, valued at $118,700. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Anne Marie Peters sold 10,443 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $12.00, for a total transaction of $125,316.00. Following the sale, the vice president now directly owns 62,305 shares in the company, valued at $747,660. The disclosure for this sale can be found here. Insiders have sold a total of 21,179 shares of company stock valued at $251,918 in the last 90 days. 7.22% of the stock is currently owned by company insiders.
IMMR opened at $11.43 on Friday. The company has a market cap of $341.17, a price-to-earnings ratio of -9.61, a price-to-earnings-growth ratio of 0.70 and a beta of 1.19. Immersion Co. has a fifty-two week low of $5.76 and a fifty-two week high of $12.85.
Immersion (NASDAQ:IMMR) last issued its quarterly earnings results on Thursday, February 22nd. The software maker reported ($0.21) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.01. Immersion had a negative net margin of 129.35% and a negative return on equity of 146.48%. The firm had revenue of $6.90 million for the quarter, compared to the consensus estimate of $6.32 million. During the same quarter in the previous year, the company earned ($0.27) EPS. The company’s revenue for the quarter was down 25.8% on a year-over-year basis. equities analysts predict that Immersion Co. will post 1.1 earnings per share for the current fiscal year.
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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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