Municipal Employees Retirement System of Michigan Acquires New Stake in Immersion Co. (NASDAQ:IMMR)

Municipal Employees Retirement System of Michigan purchased a new position in Immersion Co. (NASDAQ:IMMR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 37,570 shares of the software maker’s stock, valued at approximately $337,000. Municipal Employees Retirement System of Michigan owned about 0.12% of Immersion at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co. NY grew its stake in Immersion by 365.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,866 shares of the software maker’s stock valued at $88,000 after acquiring an additional 7,745 shares in the last quarter. Bank of America Corp DE grew its stake in Immersion by 48.9% during the 4th quarter. Bank of America Corp DE now owns 18,700 shares of the software maker’s stock valued at $167,000 after acquiring an additional 6,142 shares in the last quarter. Two Sigma Investments LP grew its stake in Immersion by 57.9% during the 4th quarter. Two Sigma Investments LP now owns 73,229 shares of the software maker’s stock valued at $656,000 after acquiring an additional 26,858 shares in the last quarter. Stone Ridge Asset Management LLC purchased a new stake in Immersion during the 4th quarter valued at about $397,000. Finally, Dimensional Fund Advisors LP grew its stake in Immersion by 20.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 824,751 shares of the software maker’s stock valued at $7,390,000 after acquiring an additional 139,241 shares in the last quarter. 79.28% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:IMMR traded up $0.16 on Friday, hitting $9.55. The stock had a trading volume of 361,530 shares, compared to its average volume of 281,451. The firm has a market capitalization of $294.67 million, a price-to-earnings ratio of 5.49 and a beta of 1.04. Immersion Co. has a 1-year low of $7.89 and a 1-year high of $17.70.

Immersion (NASDAQ:IMMR) last posted its earnings results on Tuesday, February 26th. The software maker reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.09. The company had revenue of $10.87 million for the quarter, compared to analyst estimates of $9.05 million. Immersion had a net margin of 48.97% and a return on equity of 53.62%. Immersion’s revenue was up 57.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.29) EPS. Sell-side analysts anticipate that Immersion Co. will post -0.99 EPS for the current year.

In other Immersion news, VP Anne Marie Peters sold 10,000 shares of the business’s stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $10.00, for a total value of $100,000.00. Following the transaction, the vice president now directly owns 71,110 shares in the company, valued at approximately $711,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Nancy Erba sold 23,740 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $8.21, for a total transaction of $194,905.40. The disclosure for this sale can be found here. Insiders sold a total of 86,879 shares of company stock worth $748,613 over the last quarter. 18.59% of the stock is currently owned by company insiders.

Several analysts recently issued reports on IMMR shares. BidaskClub raised shares of Immersion from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 7th. B. Riley reaffirmed a “neutral” rating and set a $9.50 price objective (down previously from $18.00) on shares of Immersion in a research note on Friday, February 22nd. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. Immersion currently has a consensus rating of “Hold” and a consensus target price of $13.17.

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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 patent licenses, haptic technologies to original equipment manufacturers.

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Institutional Ownership by Quarter for Immersion (NASDAQ:IMMR)

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