Acadian Asset Management LLC acquired a new position in Immersion Co. in the second quarter. (NASDAQ: IMMR), the company said in its most recent Form 13F application to the Securities & Exchange Commission. The fund acquired 200,254 shares in the software maker's stock, valued at approximately $ 3,091,000. Acadian Asset Management LLC owned approximately 0.66% of Immersion at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the company. Stifel Financial Corp acquired a new stake in Immersion shares worth $ 128,000 in the first quarter. MetLife Investment Advisors LLC bought a new share in Immersion shares worth $ 168,000 in the first quarter. Bayesian Capital Management LP bought a new share in Immersion shares worth $ 192,000 in the first quarter. Quadrature Capital Ltd acquired a new share in Immersion shares worth $ 252,000 in the first quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Immersion shares in the first quarter, worth $ 287,000. 76.80% of the shares are currently held by institutional investors and hedge funds.
Several analysts have released reports about the company. ValuEngine lowered the immersion of a & # 39; buy & # 39; credit to a & # 39; hold & # 39; rating in a research note on Monday, July 2. In a research memorandum on Wednesday, May 9, BidaskClub has upgraded a "strong sell" classification into a "sell" assessment. Dougherty & Co have reduced the immersion of a "buy" rating to a "neutral" rating in a research note on Tuesday 26 June. Zacks Investment Research reduced the immersion of a & # 39; hold & # 39; credit to a & # 39; sell & # 39; credit in a study letter on Thursday 9 August. Finally, Craig Hallum Immersion lowered a "buy" rating to a "hold" rating and set a price target of $ 8.00 on the shares. in a study letter on Monday 18 June. Two equity research analysts have rated the shares with a sell rating, three have issued a hold rating and one has awarded a buy rating to the company. Immersion currently has a consensus score of "Hold" and a consensus prize goal of $ 13.81.
NASDAQ shares: IMMR swapped $ 0.18 during Friday afternoon trading and reached $ 11.43. 395,315 shares of the company were held, compared with the average volume of 656,559. 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 $ 343.71 million, a price-earnings ratio of -9.61, a PEG ratio of 0.43 and a beta of 1.05.
Immersion (NASDAQ: IMMR) last published the quarterly results on Thursday 2 August. The software producer reported ($ 0.18) earnings per share (EPS) for the quarter, with consensus estimates of ($ 0.09) analysts ($ 0.09) missing. Immersion had a net margin of 40.38% and a return on equity of 86.57%. The company had revenues of $ 6.14 million for the quarter compared to the $ 9.56 million consensus estimate. In the same quarter of the previous year, the company recorded ($ 0.51) earnings per share. The company's sales for the quarter decreased by 12.6% compared to the same quarter last year. sell-side analysts predict that Immersion Co. 1.75 EPS will book for the current fiscal year.
In other Immersion news, major shareholder Senvest Management, Llc sold 177,818 shares of the company in a transaction dated Thursday, June 7. The stock was sold at an average price of $ 15.93 for a total value of $ 2,832,640.74. The sale has been published in a document submitted to the SEC, and can be accessed via this link. Insiders own 18.59% of the company's shares.
Immersion Company Profile
Immersion Corporation designs, designs, develops and licenses haptic technologies in North America, Europe and Asia. The technologies enable people to use their sense of touch when engaging in various digital products. The company offers TouchSense Lite and TouchSense Premium toolkits with which original manufacturers of equipment and their suppliers can add custom haptic technologies to their own branded devices and other products.
Recommended story: how to keep your portfolio in Google Finance
Receive news and reviews for Immersion Daily – Enter your email address below to receive a concise, daily summary of the latest news and analyst ratings for Immersion and related companies with the FREE daily email newsletter from MarketBeat.com.