Insider Buying: Immersion Co. (IMMR) CEO Purchases 6,000 Shares of Stock

Immersion Co. (NASDAQ:IMMR) CEO Thomas A. Lacey bought 6,000 shares of the company’s stock in a transaction on Thursday, November 8th. The stock was bought at an average price of $9.50 per share, for a total transaction of $57,000.00. Following the completion of the purchase, the chief executive officer now owns 37,000 shares of the company’s stock, valued at $351,500. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of IMMR stock opened at $9.18 on Friday. The company has a market cap of $299.10 million, a P/E ratio of -7.71, a price-to-earnings-growth ratio of 0.38 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 announced its quarterly earnings results on Thursday, November 1st. The software maker reported ($0.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.02. The company had revenue of $8.55 million for the quarter, compared to analysts’ expectations of $9.47 million. Immersion had a net margin of 42.23% and a return on equity of 62.41%. Immersion’s revenue was down 27.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.13) EPS. As a group, research analysts predict that Immersion Co. will post 1.7 earnings per share for the current fiscal year.

A number of research analysts have weighed in on IMMR shares. ValuEngine cut shares of Immersion from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. Zacks Investment Research cut shares of Immersion from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. BidaskClub cut shares of Immersion from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. Finally, Craig Hallum upgraded shares of Immersion from a “hold” rating to a “buy” rating and boosted their target price for the company from $14.00 to $15.00 in a research note on Wednesday, September 12th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $14.06.

Hedge funds have recently made changes to their positions in the stock. Premia Global Advisors LLC purchased a new stake in shares of Immersion during the 2nd quarter valued at approximately $105,000. Tower Research Capital LLC TRC purchased a new stake in shares of Immersion during the 2nd quarter valued at approximately $162,000. Stifel Financial Corp purchased a new stake in shares of Immersion during the 1st quarter valued at approximately $128,000. First Quadrant L P CA purchased a new stake in shares of Immersion during the 2nd quarter valued at approximately $181,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Immersion during the 2nd quarter valued at approximately $200,000. Institutional investors own 77.36% of the company’s stock.

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Immersion Company Profile

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

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