Perritt Capital Management Inc. grew its stake in shares of Immersion Co. (NASDAQ:IMMR) by 10.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 120,700 shares of the software maker’s stock after purchasing an additional 11,000 shares during the quarter. Perritt Capital Management Inc. owned approximately 0.38% of Immersion worth $919,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of Immersion by 20.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 824,751 shares of the software maker’s stock valued at $7,390,000 after acquiring an additional 139,241 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Immersion by 234.1% during the 2nd quarter. Renaissance Technologies LLC now owns 155,713 shares of the software maker’s stock worth $1,185,000 after purchasing an additional 109,113 shares during the period. Martingale Asset Management L P bought a new stake in Immersion during the 1st quarter valued at $636,000. GSA Capital Partners LLP raised its position in Immersion by 424.1% during the 2nd quarter. GSA Capital Partners LLP now owns 72,124 shares of the software maker’s stock valued at $549,000 after purchasing an additional 58,362 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Immersion by 8.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 295,472 shares of the software maker’s stock valued at $2,248,000 after purchasing an additional 23,159 shares in the last quarter. Hedge funds and other institutional investors own 76.13% of the company’s stock.
In other Immersion news, major shareholder Raging Capital Management, Llc purchased 40,000 shares of Immersion stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $7.77 per share, with a total value of $310,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Opportunities Fund Lp Se Viex acquired 94,292 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were acquired at an average price of $7.60 per share, with a total value of $716,619.20. The disclosure for this purchase can be found here. Insiders acquired 156,791 shares of company stock valued at $1,201,337 over the last quarter. 1.75% of the stock is currently owned by corporate insiders.
Immersion (NASDAQ:IMMR) last released its quarterly earnings results on Thursday, August 1st. The software maker reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.09). Immersion had a negative return on equity of 29.16% and a negative net margin of 82.38%. The company had revenue of $8.70 million during the quarter, compared to the consensus estimate of $8.68 million. During the same period in the previous year, the firm posted ($0.18) earnings per share. The company’s revenue was up 42.6% on a year-over-year basis. As a group, equities research analysts predict that Immersion Co. will post -0.54 EPS for the current fiscal year.
A number of research firms have recently issued reports on IMMR. BidaskClub downgraded Immersion from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Zacks Investment Research raised shares of Immersion from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a research note on Thursday, August 8th. TheStreet cut shares of Immersion from a “c” rating to a “d” rating in a report on Friday, May 31st. Dougherty & Co upgraded shares of Immersion from a “neutral” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Tuesday, May 14th. Finally, ValuEngine raised shares of Immersion from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. Immersion currently has an average rating of “Buy” and an average price target of $10.81.
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 patent licenses, haptic technologies to original equipment manufacturers.
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