Morgan Stanley Sells 55,903 Shares of Immersion Corporation (IMMR)
Morgan Stanley trimmed its position in shares of Immersion Corporation (NASDAQ:IMMR) by 30.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,246 shares of the software maker’s stock after selling 55,903 shares during the period. Morgan Stanley owned about 0.43% of Immersion Corporation worth $1,085,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in IMMR. Russell Investments Group Ltd. raised its holdings in shares of Immersion Corporation by 20.2% during the first quarter. Russell Investments Group Ltd. now owns 64,990 shares of the software maker’s stock worth $563,000 after acquiring an additional 10,900 shares in the last quarter. Chicago Equity Partners LLC purchased a new stake in shares of Immersion Corporation during the first quarter worth $1,645,000. Private Advisor Group LLC raised its holdings in shares of Immersion Corporation by 1.1% during the first quarter. Private Advisor Group LLC now owns 127,361 shares of the software maker’s stock worth $1,065,000 after acquiring an additional 1,350 shares in the last quarter. Blair William & Co. IL purchased a new stake in shares of Immersion Corporation during the first quarter worth $109,000. Finally, American International Group Inc. raised its holdings in shares of Immersion Corporation by 7.1% during the first quarter. American International Group Inc. now owns 17,824 shares of the software maker’s stock worth $154,000 after acquiring an additional 1,182 shares in the last quarter. Institutional investors and hedge funds own 75.29% of the company’s stock.
Immersion Corporation (NASDAQ IMMR) traded down 2.17% during trading on Friday, reaching $7.20. 49,802 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $7.59 and a 200-day moving average price of $8.48. Immersion Corporation has a 12 month low of $6.22 and a 12 month high of $11.92. The firm’s market cap is $210.69 million.
Immersion Corporation (NASDAQ:IMMR) last issued its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.40) by $0.01. Immersion Corporation had a negative return on equity of 43.56% and a negative net margin of 113.47%. The business had revenue of $7 million for the quarter, compared to the consensus estimate of $8.94 million. During the same period last year, the firm earned ($0.20) earnings per share. The company’s quarterly revenue was down 11.4% compared to the same quarter last year. On average, analysts forecast that Immersion Corporation will post ($1.22) earnings per share for the current fiscal year.
Several brokerages recently issued reports on IMMR. B. Riley began coverage on Immersion Corporation in a report on Thursday, August 10th. They set a “buy” rating and a $9.75 price objective for the company. Zacks Investment Research raised shares of Immersion Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. ValuEngine raised shares of Immersion Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Cowen and Company set a $11.00 target price on shares of Immersion Corporation and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $10.96.
Immersion Corporation Company Profile
Immersion Corporation is a licensing company focused on the creation, design, development and licensing of haptic technologies that allow people to use their sense of touch when operating digital devices. The Company develops, licenses and supports a range of software and intellectual property (IP). It is focused on the markets, including mobile devices, wearables, consumer, mobile entertainment and other content; console gaming; automotive; medical, and commercial.
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