Immersion Corporation (NASDAQ:IMMR - Get Free Report) CFO J Michael Dodson sold 5,921 shares of Immersion stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $7.53, for a total value of $44,585.13. Following the transaction, the chief financial officer now directly owns 39,132 shares in the company, valued at $294,663.96. The trade was a 13.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Immersion Trading Down 1.0%
Shares of NASDAQ:IMMR traded down $0.08 during midday trading on Thursday, reaching $7.60. The company's stock had a trading volume of 626,647 shares, compared to its average volume of 664,817. The firm has a market capitalization of $246.24 million, a price-to-earnings ratio of 2.73 and a beta of 1.41. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.04 and a current ratio of 1.72. The firm has a 50 day moving average price of $7.43 and a two-hundred day moving average price of $8.00. Immersion Corporation has a fifty-two week low of $6.47 and a fifty-two week high of $13.94.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in IMMR. Farther Finance Advisors LLC lifted its stake in shares of Immersion by 29,900.0% in the 4th quarter. Farther Finance Advisors LLC now owns 3,000 shares of the software maker's stock valued at $26,000 after purchasing an additional 2,990 shares during the period. SBI Securities Co. Ltd. bought a new stake in Immersion in the 4th quarter valued at about $51,000. Quarry LP bought a new stake in Immersion in the 4th quarter valued at about $54,000. AlphaQuest LLC bought a new stake in Immersion in the 4th quarter valued at about $61,000. Finally, Legal & General Group Plc increased its position in Immersion by 44.2% in the 4th quarter. Legal & General Group Plc now owns 7,910 shares of the software maker's stock valued at $69,000 after buying an additional 2,425 shares in the last quarter. 60.57% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have commented on IMMR. BWS Financial reaffirmed a "buy" rating and set a $13.50 target price on shares of Immersion in a report on Thursday, March 13th. Wall Street Zen raised Immersion from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Craig Hallum cut their target price on Immersion from $14.00 to $11.00 and set a "buy" rating on the stock in a report on Thursday, March 13th.
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About Immersion
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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.
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