Wall Street Zen Downgrades Immersion (NASDAQ:IMMR) to Hold

Immersion (NASDAQ:IMMR - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

Several other research analysts have also issued reports on the stock. Craig Hallum lowered their price target on shares of Immersion from $14.00 to $11.00 and set a "buy" rating for the company in a report on Thursday, March 13th. BWS Financial reiterated a "buy" rating and issued a $13.50 price objective on shares of Immersion in a research note on Thursday, March 13th.

Immersion Stock Up 0.1%

Immersion stock opened at $8.09 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.04 and a current ratio of 1.72. Immersion has a 52-week low of $6.47 and a 52-week high of $13.94. The firm has a 50 day moving average price of $7.60 and a two-hundred day moving average price of $7.90. The firm has a market cap of $262.12 million, a price-to-earnings ratio of 2.91 and a beta of 1.41.

Insider Buying and Selling at Immersion

In other news, CFO J Michael Dodson sold 5,921 shares of Immersion stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $7.53, for a total value of $44,585.13. Following the completion of the sale, the chief financial officer owned 39,132 shares in the company, valued at $294,663.96. The trade was a 13.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.50% of the stock is owned by corporate insiders.

Institutional Trading of Immersion

Hedge funds have recently bought and sold shares of the business. PharVision Advisers LLC increased its stake in Immersion by 14.5% during the 1st quarter. PharVision Advisers LLC now owns 26,478 shares of the software maker's stock valued at $201,000 after purchasing an additional 3,349 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its stake in Immersion by 12.3% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 554,989 shares of the software maker's stock valued at $4,207,000 after purchasing an additional 60,822 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Immersion by 253.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,485 shares of the software maker's stock valued at $466,000 after purchasing an additional 44,112 shares in the last quarter. Quarry LP increased its stake in Immersion by 52.0% during the 1st quarter. Quarry LP now owns 9,370 shares of the software maker's stock valued at $71,000 after purchasing an additional 3,204 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in Immersion by 15.5% during the 1st quarter. MetLife Investment Management LLC now owns 17,020 shares of the software maker's stock worth $129,000 after acquiring an additional 2,288 shares during the last quarter. Institutional investors and hedge funds own 60.57% of the company's stock.

Immersion Company Profile

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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