Immersion (NASDAQ:IMMR) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of Immersion (NASDAQ:IMMR) from a buy rating to a hold rating in a report issued on Saturday.

A number of other equities research analysts also recently commented on the company. Craig Hallum dropped their price objective on Immersion from $14.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, March 13th. BWS Financial reiterated a “buy” rating and issued a $13.50 price objective on shares of Immersion in a report on Thursday, March 13th.

Immersion Trading Up 0.1%

NASDAQ IMMR opened at $8.09 on Friday. The stock has a 50-day simple moving average of $7.60 and a 200 day simple moving average of $7.89. The company has a market capitalization of $262.12 million, a PE ratio of 2.91 and a beta of 1.41. The company has a current ratio of 1.72, a quick ratio of 1.04 and a debt-to-equity ratio of 0.25. Immersion has a 12 month low of $6.47 and a 12 month high of $13.94.

Insider Buying and Selling

In related news, CFO J Michael Dodson sold 5,921 shares of the company’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $7.53, for a total value of $44,585.13. Following the completion of the sale, the chief financial officer owned 39,132 shares in the company, valued at approximately $294,663.96. This represents a 13.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Immersion

Large investors have recently modified their holdings of the business. Millennium Management LLC raised its position in shares of Immersion by 128.3% during the fourth quarter. Millennium Management LLC now owns 794,767 shares of the software maker’s stock worth $6,938,000 after purchasing an additional 446,623 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Immersion during the fourth quarter worth about $1,644,000. Segall Bryant & Hamill LLC raised its position in shares of Immersion by 41.7% during the fourth quarter. Segall Bryant & Hamill LLC now owns 494,574 shares of the software maker’s stock worth $4,318,000 after purchasing an additional 145,546 shares during the period. Nuveen LLC acquired a new stake in shares of Immersion during the first quarter worth about $645,000. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of Immersion during the fourth quarter worth about $700,000. 60.57% of the stock is currently owned by institutional investors.

About Immersion

Immersion Corporation, together with its subsidiaries, engages in the creation, design, development, and licensing of 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.