Martingale Asset Management L P Buys New Position in Immersion Co. (NASDAQ:IMMR)

Martingale Asset Management L P bought a new stake in shares of Immersion Co. (NASDAQ:IMMR) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 75,362 shares of the software maker’s stock, valued at approximately $636,000. Martingale Asset Management L P owned approximately 0.24% of Immersion at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Immersion by 11,307.7% in the third quarter. JPMorgan Chase & Co. now owns 770,704 shares of the software maker’s stock valued at $8,146,000 after purchasing an additional 763,948 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Immersion by 11.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,767,886 shares of the software maker’s stock valued at $18,687,000 after acquiring an additional 181,293 shares during the period. Quantamental Technologies LLC bought a new position in shares of Immersion in the 4th quarter valued at about $42,000. Rhumbline Advisers grew its position in shares of Immersion by 40.5% in the 4th quarter. Rhumbline Advisers now owns 35,811 shares of the software maker’s stock valued at $321,000 after acquiring an additional 10,316 shares during the period. Finally, Smith Asset Management Group LP bought a new position in shares of Immersion in the 4th quarter valued at about $167,000. Institutional investors own 75.40% of the company’s stock.

NASDAQ:IMMR traded up $0.01 during trading hours on Friday, hitting $7.61. The company had a trading volume of 246,438 shares, compared to its average volume of 357,295. The company’s 50-day simple moving average is $7.94. The firm has a market cap of $240.13 million, a P/E ratio of 4.37 and a beta of 1.20. Immersion Co. has a 52 week low of $7.02 and a 52 week high of $16.45.

Immersion (NASDAQ:IMMR) last posted its quarterly earnings data on Monday, May 13th. The software maker reported ($0.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.01). Immersion had a negative net margin of 86.54% and a negative return on equity of 27.08%. The business had revenue of $5.10 million during the quarter, compared to analysts’ expectations of $5.10 million. During the same period in the previous year, the business posted $2.34 EPS. The company’s revenue for the quarter was down 94.0% compared to the same quarter last year. On average, equities analysts expect that Immersion Co. will post -0.53 earnings per share for the current fiscal year.

In other news, major shareholder Opportunities Fund Lp Se Viex purchased 94,292 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was bought at an average price of $7.60 per share, for a total transaction of $716,619.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 5,937 shares of company stock valued at $54,050 in the last quarter. 1.75% of the stock is owned by insiders.

A number of analysts have recently issued reports on IMMR shares. Zacks Investment Research upgraded shares of Immersion from a “hold” rating to a “buy” rating and set a $9.25 target price for the company in a research note on Saturday, May 18th. TheStreet cut shares of Immersion from a “c” rating to a “d” rating in a research note on Friday, May 31st. Finally, Dougherty & Co upgraded shares of Immersion from a “neutral” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Tuesday, May 14th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Immersion has a consensus rating of “Hold” and an average price target of $11.69.

Immersion 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 patent licenses, haptic technologies to original equipment manufacturers.

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Institutional Ownership by Quarter for Immersion (NASDAQ:IMMR)

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