Bank of New York Mellon Corp Trims Holdings in Immersion Corporation (IMMR)
Bank of New York Mellon Corp cut its holdings in shares of Immersion Corporation (NASDAQ:IMMR) by 9.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 124,601 shares of the software maker’s stock after selling 13,293 shares during the quarter. Bank of New York Mellon Corp owned 0.43% of Immersion Corporation worth $1,131,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. American International Group Inc. lifted its holdings in Immersion Corporation by 7.1% during the 1st quarter. American International Group Inc. now owns 17,824 shares of the software maker’s stock worth $154,000 after buying an additional 1,182 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Immersion Corporation by 3.0% during the 1st quarter. Geode Capital Management LLC now owns 249,334 shares of the software maker’s stock worth $2,159,000 after buying an additional 7,191 shares in the last quarter. Tudor Investment Corp ET AL lifted its holdings in Immersion Corporation by 66.5% during the 1st quarter. Tudor Investment Corp ET AL now owns 25,149 shares of the software maker’s stock worth $218,000 after buying an additional 10,046 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Immersion Corporation by 20.2% during the 1st quarter. Russell Investments Group Ltd. now owns 64,990 shares of the software maker’s stock worth $563,000 after buying an additional 10,900 shares in the last quarter. Finally, Sei Investments Co. acquired a new stake in Immersion Corporation during the 2nd quarter worth approximately $221,000. Institutional investors own 74.41% of the company’s stock.
Shares of Immersion Corporation (IMMR) opened at 8.20 on Monday. The firm’s market capitalization is $239.95 million. The stock has a 50 day moving average of $7.92 and a 200-day moving average of $8.22. Immersion Corporation has a one year low of $6.22 and a one year high of $11.92.
Immersion Corporation (NASDAQ:IMMR) last posted its earnings results on Thursday, August 3rd. The software maker reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $7.00 million for the quarter, compared to analyst estimates of $8.94 million. During the same period in the previous year, the firm posted ($0.20) earnings per share. The company’s revenue for the quarter was down 11.4% on a year-over-year basis. On average, equities analysts anticipate that Immersion Corporation will post ($1.22) earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on IMMR shares. Zacks Investment Research upgraded shares of Immersion Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Cowen and Company set a $11.00 price objective on shares of Immersion Corporation and gave the company a “buy” rating in a report on Wednesday, August 2nd. B. Riley started coverage on shares of Immersion Corporation in a report on Saturday, August 5th. They issued a “buy” rating and a $9.75 price objective on the stock. Finally, ValuEngine upgraded shares of Immersion Corporation from a “sell” rating to a “hold” rating in a report on Saturday, September 30th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $10.75.
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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