Algert Global LLC Invests $331,000 in Immersion Co. (NASDAQ:IMMR)

Algert Global LLC purchased a new stake in Immersion Co. (NASDAQ:IMMR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 21,441 shares of the software maker’s stock, valued at approximately $331,000. Algert Global LLC owned 0.07% of Immersion as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Stifel Financial Corp bought a new stake in shares of Immersion in the 1st quarter worth approximately $128,000. First Quadrant L P CA bought a new stake in Immersion during the 2nd quarter valued at $181,000. MetLife Investment Advisors LLC bought a new stake in Immersion during the 1st quarter valued at $168,000. Bayesian Capital Management LP bought a new stake in Immersion during the 1st quarter valued at $192,000. Finally, Fox Run Management L.L.C. bought a new stake in Immersion during the 2nd quarter valued at $315,000. 75.94% of the stock is currently owned by institutional investors.

Shares of NASDAQ:IMMR traded up $0.08 during midday trading on Friday, reaching $11.62. The company’s stock had a trading volume of 266,300 shares, compared to its average volume of 806,285. Immersion Co. has a 12-month low of $5.76 and a 12-month high of $17.70. The company has a market capitalization of $347.09 million, a PE ratio of -9.71, a P/E/G ratio of 0.43 and a beta of 1.05.

Immersion (NASDAQ:IMMR) last announced its quarterly earnings data on Thursday, August 2nd. The software maker reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.09). Immersion had a net margin of 40.38% and a return on equity of 86.57%. The firm had revenue of $6.14 million for the quarter, compared to analysts’ expectations of $9.56 million. During the same period last year, the company posted ($0.51) earnings per share. The business’s revenue for the quarter was down 12.6% compared to the same quarter last year. analysts expect that Immersion Co. will post 1.75 EPS for the current fiscal year.

IMMR has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of Immersion from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 13th. ValuEngine upgraded shares of Immersion from a “hold” rating to a “buy” rating in a report on Monday, June 11th. Craig Hallum lowered shares of Immersion from a “buy” rating to a “hold” rating and set a $8.00 price objective for the company. in a report on Monday, June 18th. Dougherty & Co lowered shares of Immersion from a “buy” rating to a “neutral” rating in a report on Tuesday, June 26th. Finally, Zacks Investment Research lowered shares of Immersion from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Immersion has an average rating of “Hold” and a consensus target price of $13.81.

In related news, major shareholder Senvest Management, Llc sold 177,818 shares of the stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $15.93, for a total transaction of $2,832,640.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 18.59% of the company’s stock.

About Immersion

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.

Further Reading: Trading Strategy

Institutional Ownership by Quarter for Immersion (NASDAQ:IMMR)

Receive News & Ratings for Immersion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Immersion and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply