StockNews.com Downgrades Immersion (NASDAQ:IMMR) to Hold

Immersion (NASDAQ:IMMRGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Several other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Immersion from a “hold” rating to a “sell” rating in a report on Monday, February 28th. Craig Hallum decreased their target price on Immersion from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday.

Shares of NASDAQ IMMR traded up $0.12 during midday trading on Wednesday, reaching $5.83. 250,179 shares of the stock traded hands, compared to its average volume of 413,813. The stock has a market capitalization of $195.97 million, a PE ratio of 12.15 and a beta of 1.73. The company’s 50 day moving average is $5.12 and its 200 day moving average is $5.28. Immersion has a one year low of $4.28 and a one year high of $9.78.

Immersion (NASDAQ:IMMRGet Rating) last issued its quarterly earnings data on Thursday, May 12th. The software maker reported $0.17 earnings per share for the quarter. Immersion had a return on equity of 16.47% and a net margin of 44.06%. The company had revenue of $7.31 million for the quarter.

In other Immersion news, insider William C. Martin acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, May 31st. The stock was acquired at an average cost of $5.61 per share, for a total transaction of $56,100.00. Following the completion of the transaction, the insider now directly owns 432,831 shares of the company’s stock, valued at $2,428,181.91. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider William C. Martin purchased 50,000 shares of the stock in a transaction dated Friday, May 27th. The stock was purchased at an average cost of $5.72 per share, for a total transaction of $286,000.00. Following the completion of the purchase, the insider now directly owns 422,831 shares of the company’s stock, valued at $2,418,593.32. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 6,297 shares of company stock valued at $32,378. 1.80% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in shares of Immersion in the third quarter worth approximately $355,000. Barclays PLC boosted its stake in Immersion by 234.8% during the third quarter. Barclays PLC now owns 67,138 shares of the software maker’s stock worth $459,000 after buying an additional 47,083 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in Immersion during the fourth quarter worth $123,000. Schonfeld Strategic Advisors LLC acquired a new position in Immersion during the third quarter worth $82,000. Finally, Alpha Paradigm Partners LLC acquired a new position in Immersion during the fourth quarter worth $401,000. 50.49% of the stock is currently owned by hedge funds and other institutional investors.

Immersion Company Profile (Get Rating)

Immersion Corporation, together with its subsidiaries, invents, scales, and licenses haptic technologies that allow people to use their sense of touch to engage with and experience various digital products in North America, Europe, and Asia. The company provides technology, patent, and combined licenses.

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