Connor Clark & Lunn Investment Management Ltd. purchased a new position in Immersion Co. (NASDAQ:IMMR) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 123,006 shares of the software maker’s stock, valued at approximately $1,300,000. Connor Clark & Lunn Investment Management Ltd. owned 0.40% of Immersion at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in shares of Immersion by 125.8% in the third quarter. Dimensional Fund Advisors LP now owns 685,510 shares of the software maker’s stock worth $7,246,000 after purchasing an additional 381,902 shares during the period. Trexquant Investment LP bought a new position in shares of Immersion in the third quarter worth approximately $146,000. AXA boosted its position in shares of Immersion by 107.3% in the third quarter. AXA now owns 34,200 shares of the software maker’s stock worth $361,000 after purchasing an additional 17,700 shares during the period. Alliancebernstein L.P. boosted 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 worth $469,000 after purchasing an additional 10,450 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. boosted 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 worth $1,397,000 after purchasing an additional 8,838 shares during the period. Institutional investors and hedge funds own 77.44% of the company’s stock.
Shares of NASDAQ:IMMR opened at $8.40 on Friday. Immersion Co. has a fifty-two week low of $6.31 and a fifty-two week high of $17.70. The firm has a market cap of $269.22 million, a P/E ratio of -7.06, a P/E/G ratio of 0.34 and a beta of 0.93.
Immersion (NASDAQ:IMMR) last issued its earnings results on Thursday, November 1st. The software maker reported ($0.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.02. Immersion had a net margin of 42.23% and a return on equity of 62.41%. The firm had revenue of $8.55 million during the quarter, compared to analyst estimates of $9.47 million. During the same quarter in the prior year, the business earned ($0.13) earnings per share. Immersion’s revenue for the quarter was down 27.9% on a year-over-year basis. On average, analysts expect that Immersion Co. will post 1.7 EPS for the current year.
In related news, Director David Sugishita sold 50,273 shares of the company’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $9.59, for a total transaction of $482,118.07. Following the completion of the transaction, the director now owns 82,136 shares in the company, valued at $787,684.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kenneth H. Traub bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The shares were bought at an average price of $8.99 per share, with a total value of $89,900.00. The disclosure for this purchase can be found here. 18.59% of the stock is currently owned by corporate insiders.
A number of equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Immersion from a “sell” rating to a “hold” rating in a research report on Saturday. BidaskClub lowered shares of Immersion from a “sell” rating to a “strong sell” rating in a research report on Tuesday. ValuEngine lowered 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 upped their price target for the stock from $14.00 to $15.00 in a research report on Wednesday, September 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Immersion currently has a consensus rating of “Hold” and an average price target of $14.06.
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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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