Rhumbline Advisers reduced its stake in shares of Immersion Corporation (NASDAQ:IMMR) by 3.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 33,076 shares of the software maker’s stock after selling 1,250 shares during the period. Rhumbline Advisers owned about 0.11% of Immersion Corporation worth $300,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of IMMR. Raging Capital Management LLC increased its holdings in Immersion Corporation by 75.8% during the 1st quarter. Raging Capital Management LLC now owns 2,849,289 shares of the software maker’s stock worth $24,675,000 after purchasing an additional 1,228,459 shares in the last quarter. Thomson Horstmann & Bryant Inc. increased its holdings in Immersion Corporation by 8.7% during the 2nd quarter. Thomson Horstmann & Bryant Inc. now owns 879,376 shares of the software maker’s stock worth $7,984,000 after purchasing an additional 70,640 shares in the last quarter. Vanguard Group Inc. increased its holdings in Immersion Corporation by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 1,194,288 shares of the software maker’s stock worth $10,342,000 after purchasing an additional 69,383 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Immersion Corporation by 12.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 347,922 shares of the software maker’s stock worth $3,013,000 after purchasing an additional 38,284 shares in the last quarter. Finally, Sei Investments Co. bought a new stake in Immersion Corporation during the 2nd quarter worth approximately $221,000. 74.41% of the stock is owned by hedge funds and other institutional investors.
Shares of Immersion Corporation (NASDAQ:IMMR) opened at 8.17 on Wednesday. Immersion Corporation has a one year low of $6.22 and a one year high of $11.92. The company’s market capitalization is $239.07 million. The firm’s 50-day moving average price is $7.67 and its 200-day moving average price is $8.23.
Immersion Corporation (NASDAQ:IMMR) last released its earnings results on Thursday, August 3rd. The software maker reported ($0.41) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.01). Immersion Corporation had a negative net margin of 113.47% and a negative return on equity of 43.56%. The business had revenue of $7.00 million for the quarter, compared to analysts’ expectations of $8.94 million. During the same quarter in the previous year, the business posted ($0.20) earnings per share. Immersion Corporation’s revenue for the quarter was down 11.4% on a year-over-year basis. Analysts anticipate that Immersion Corporation will post ($1.22) earnings per share for the current year.
A number of analysts have commented on IMMR shares. B. Riley reissued a “buy” rating and set a $10.50 price objective on shares of Immersion Corporation in a report on Monday, July 31st. Zacks Investment Research raised Immersion Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. ValuEngine raised Immersion Corporation from a “sell” rating to a “hold” rating in a report on Saturday, September 30th. Finally, Cowen and Company set a $11.00 price objective on Immersion Corporation and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $10.75.
About Immersion Corporation
Immersion Corporation is a licensing company focused on the creation, design, development and licensing of haptic technologies that allow people to use their sense of touch when operating digital devices. The Company develops, licenses and supports a range of software and intellectual property (IP). It is focused on the markets, including mobile devices, wearables, consumer, mobile entertainment and other content; console gaming; automotive; medical, and commercial.
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