Alps Advisors Inc. acquired a new stake in shares of Immersion Co. (NASDAQ:IMMR) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 47,066 shares of the software maker’s stock, valued at approximately $497,000.
Other hedge funds also recently bought and sold shares of the company. EAM Investors LLC purchased a new position in shares of Immersion during the 2nd quarter valued at about $1,135,000. GSA Capital Partners LLP purchased a new position in shares of Immersion during the 2nd quarter valued at about $1,136,000. Schwab Charles Investment Management Inc. lifted its position in shares of Immersion by 219.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 202,999 shares of the software maker’s stock valued at $3,135,000 after buying an additional 139,354 shares in the last quarter. Macquarie Group Ltd. purchased a new position in shares of Immersion during the 2nd quarter valued at about $434,000. Finally, Sterling Capital Management LLC purchased a new position in shares of Immersion during the 2nd quarter valued at about $782,000. 77.36% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on IMMR shares. Craig Hallum decreased their target price on Immersion from $17.00 to $14.00 and set a “hold” rating on the stock in a research note on Friday, August 3rd. BidaskClub raised Immersion from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 1st. Zacks Investment Research downgraded Immersion from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 12th. Finally, ValuEngine downgraded Immersion from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $14.06.
Shares of IMMR opened at $9.51 on Wednesday. The company has a market cap of $313.55 million, a P/E ratio of -7.99, a price-to-earnings-growth ratio of 0.39 and a beta of 0.92. Immersion Co. has a 12-month low of $5.76 and a 12-month high of $17.70.
Immersion (NASDAQ:IMMR) last issued its earnings results on Thursday, November 1st. The software maker reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.02. The company had revenue of $8.55 million for the quarter, compared to the consensus estimate of $9.47 million. Immersion had a return on equity of 68.47% and a net margin of 42.23%. The firm’s quarterly revenue was down 27.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.13) EPS. On average, equities analysts forecast that Immersion Co. will post 1.75 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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