Insider Selling: Immersion Co. (NASDAQ:IMMR) Major Shareholder Sells 177,818 Shares of Stock

Immersion Co. (NASDAQ:IMMR) major shareholder Senvest Management, Llc sold 177,818 shares of the stock in a transaction on Thursday, June 7th. The stock was sold at an average price of $15.93, for a total transaction of $2,832,640.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Senvest Management, Llc also recently made the following trade(s):

  • On Monday, May 21st, Senvest Management, Llc sold 384,568 shares of Immersion stock. The stock was sold at an average price of $13.39, for a total transaction of $5,149,365.52.
  • On Thursday, May 17th, Senvest Management, Llc sold 465,585 shares of Immersion stock. The stock was sold at an average price of $13.91, for a total transaction of $6,476,287.35.

IMMR traded down $0.25 during trading on Thursday, hitting $16.90. 847,749 shares of the stock traded hands, compared to its average volume of 914,421. The stock has a market capitalization of $509.82 million, a P/E ratio of -14.20, a PEG ratio of 0.63 and a beta of 1.21. Immersion Co. has a 12-month low of $5.76 and a 12-month high of $17.70.

Immersion (NASDAQ:IMMR) last announced its quarterly earnings results on Thursday, May 10th. The software maker reported $2.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.77. The business had revenue of $85.42 million during the quarter, compared to analysts’ expectations of $57.70 million. Immersion had a net margin of 33.68% and a return on equity of 118.96%. The firm’s revenue for the quarter was up 826.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.39) EPS. analysts predict that Immersion Co. will post 1.76 earnings per share for the current fiscal year.

A number of equities analysts have recently commented on IMMR shares. BidaskClub raised shares of Immersion from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 28th. ValuEngine raised shares of Immersion from a “hold” rating to a “buy” rating in a research note on Monday. Zacks Investment Research cut shares of Immersion from a “hold” rating to a “sell” rating in a research note on Saturday, February 24th. Craig Hallum upped their price objective on shares of Immersion from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, Dougherty & Co reaffirmed a “buy” rating and issued a $14.00 price objective (up previously from $10.00) on shares of Immersion in a research note on Friday, February 23rd. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $13.85.

A number of hedge funds and other institutional investors have recently modified their holdings of IMMR. Raging Capital Management LLC raised its holdings in Immersion by 67.7% in the 4th quarter. Raging Capital Management LLC now owns 4,779,346 shares of the software maker’s stock worth $33,742,000 after purchasing an additional 1,930,057 shares in the last quarter. Millennium Management LLC bought a new position in shares of Immersion in the 1st quarter worth about $13,044,000. Nokomis Capital L.L.C. increased its stake in shares of Immersion by 69.8% in the 4th quarter. Nokomis Capital L.L.C. now owns 1,679,154 shares of the software maker’s stock worth $11,855,000 after acquiring an additional 690,110 shares in the last quarter. University of Notre Dame DU Lac increased its stake in shares of Immersion by 37.4% in the 4th quarter. University of Notre Dame DU Lac now owns 977,371 shares of the software maker’s stock worth $6,900,000 after acquiring an additional 266,249 shares in the last quarter. Finally, Baird Financial Group Inc. bought a new position in shares of Immersion in the 1st quarter worth about $2,621,000. Institutional investors and hedge funds own 78.55% of the company’s stock.

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 toolkits that enable original equipment manufacturers and their suppliers to add customized haptic technologies to their own branded devices and other products.

Insider Buying and Selling by Quarter for Immersion (NASDAQ:IMMR)

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