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.
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.
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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