Immersion Co. (NASDAQ:IMMR) CFO Sells $44,585.13 in Stock

Immersion Co. (NASDAQ:IMMR - Get Free Report) CFO J Michael Dodson sold 5,921 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $7.53, for a total transaction of $44,585.13. Following the completion of the sale, the chief financial officer now directly owns 39,132 shares in the company, valued at $294,663.96. This represents a 13.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Immersion Stock Up 2.7%

NASDAQ IMMR traded up $0.21 on Monday, hitting $7.84. 463,051 shares of the stock traded hands, compared to its average volume of 664,129. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average of $7.38 and a 200 day moving average of $8.02. Immersion Co. has a twelve month low of $6.47 and a twelve month high of $13.94. The company has a market capitalization of $253.82 million, a P/E ratio of 2.80 and a beta of 1.41.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IMMR. Wall Street Zen upgraded Immersion from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Craig Hallum dropped their price target on shares of Immersion from $14.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday, March 13th. Finally, BWS Financial restated a "buy" rating and set a $13.50 target price on shares of Immersion in a research note on Thursday, March 13th.

Institutional Investors Weigh In On Immersion

A number of institutional investors have recently modified their holdings of IMMR. Principal Financial Group Inc. lifted its holdings in shares of Immersion by 11.3% in the 4th quarter. Principal Financial Group Inc. now owns 55,227 shares of the software maker's stock worth $482,000 after purchasing an additional 5,591 shares during the last quarter. Quartz Partners LLC lifted its position in Immersion by 4.8% in the 4th quarter. Quartz Partners LLC now owns 77,546 shares of the software maker's stock valued at $677,000 after purchasing an additional 3,570 shares during the last quarter. Bank of New York Mellon Corp grew its position in Immersion by 16.8% in the 4th quarter. Bank of New York Mellon Corp now owns 358,240 shares of the software maker's stock worth $3,127,000 after purchasing an additional 51,655 shares during the last quarter. Los Angeles Capital Management LLC increased its position in Immersion by 3.2% in the 4th quarter. Los Angeles Capital Management LLC now owns 167,225 shares of the software maker's stock valued at $1,460,000 after acquiring an additional 5,260 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in shares of Immersion during the 4th quarter worth about $98,000. Institutional investors own 60.57% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.