Immersion Co. (NASDAQ:IMMR) was the target of unusually large options trading on Tuesday. Stock investors bought 762 call options on the stock. This is an increase of approximately 776% compared to the typical daily volume of 87 call options.
In other Immersion news, CEO Thomas A. Lacey acquired 6,000 shares of the company’s stock in a transaction that occurred on Thursday, November 8th. The shares were acquired at an average price of $9.50 per share, with a total value of $57,000.00. Following the purchase, the chief executive officer now owns 37,000 shares of the company’s stock, valued at approximately $351,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kenneth H. Traub acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The shares were acquired at an average cost of $8.99 per share, for a total transaction of $89,900.00. The disclosure for this purchase can be found here. Company insiders own 18.59% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in IMMR. Premia Global Advisors LLC acquired a new stake in shares of Immersion in the 2nd quarter valued at about $105,000. Trexquant Investment LP acquired a new stake in shares of Immersion in the 3rd quarter valued at about $146,000. Tower Research Capital LLC TRC acquired a new stake in shares of Immersion in the 2nd quarter valued at about $162,000. Engineers Gate Manager LP bought a new position in shares of Immersion in the 2nd quarter valued at about $200,000. Finally, Bank of Montreal Can grew its holdings in shares of Immersion by 9,500.9% in the 3rd quarter. Bank of Montreal Can now owns 20,642 shares of the software maker’s stock valued at $218,000 after acquiring an additional 20,427 shares in the last quarter. 77.44% of the stock is currently owned by hedge funds and other institutional investors.
Immersion (NASDAQ:IMMR) last released its quarterly earnings results on Thursday, November 1st. The software maker reported ($0.07) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.02. Immersion had a return on equity of 62.41% and a net margin of 42.23%. The firm had revenue of $8.55 million for the quarter, compared to the consensus estimate of $9.47 million. During the same quarter last year, the business posted ($0.13) EPS. The company’s revenue for the quarter was down 27.9% on a year-over-year basis. Equities research analysts forecast that Immersion will post 1.7 earnings per share for the current fiscal year.
IMMR has been the topic of several research analyst reports. Craig Hallum raised Immersion from a “hold” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $15.00 in a research note on Wednesday, September 12th. Zacks Investment Research raised Immersion from a “sell” rating to a “hold” rating in a research note on Tuesday. BidaskClub raised Immersion from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 1st. Finally, ValuEngine downgraded Immersion from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $14.06.
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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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