American Century Companies Inc. Acquires 127,440 Shares of Immersion Co. (IMMR)
American Century Companies Inc. lifted its holdings in shares of Immersion Co. (NASDAQ:IMMR) by 80.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 286,806 shares of the software maker’s stock after buying an additional 127,440 shares during the period. American Century Companies Inc.’s holdings in Immersion were worth $2,570,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Northern Trust Corp boosted its stake in shares of Immersion by 0.7% during the fourth quarter. Northern Trust Corp now owns 361,820 shares of the software maker’s stock worth $3,241,000 after buying an additional 2,649 shares during the period. Quantamental Technologies LLC purchased a new position in Immersion during the fourth quarter worth about $42,000. Bank of America Corp DE raised its holdings in Immersion by 48.9% during the fourth quarter. Bank of America Corp DE now owns 18,700 shares of the software maker’s stock worth $167,000 after purchasing an additional 6,142 shares in the last quarter. MetLife Investment Advisors LLC raised its holdings in Immersion by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 21,774 shares of the software maker’s stock worth $230,000 after purchasing an additional 7,745 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its holdings in Immersion by 365.2% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,866 shares of the software maker’s stock worth $88,000 after purchasing an additional 7,745 shares in the last quarter. Institutional investors and hedge funds own 79.10% of the company’s stock.
In other Immersion news, CFO Nancy Erba sold 3,554 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $8.32, for a total value of $29,569.28. Following the completion of the transaction, the chief financial officer now directly owns 70,647 shares of the company’s stock, valued at $587,783.04. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Anne Marie Peters sold 29,588 shares of the stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $8.19, for a total transaction of $242,325.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,879 shares of company stock valued at $730,773. 18.59% of the stock is currently owned by corporate insiders.
Immersion (NASDAQ:IMMR) last issued its earnings results on Tuesday, February 26th. The software maker reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.09. Immersion had a net margin of 48.97% and a return on equity of 53.62%. The company had revenue of $10.87 million during the quarter, compared to analysts’ expectations of $9.05 million. During the same period last year, the company posted ($0.29) earnings per share. The firm’s quarterly revenue was up 57.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Immersion Co. will post -0.99 EPS for the current year.
IMMR has been the subject of several analyst reports. Zacks Investment Research raised shares of Immersion from a “sell” rating to a “hold” rating in a report on Tuesday, December 18th. B. Riley cut shares of Immersion from a “buy” rating to a “neutral” rating and cut their price target for the stock from $18.00 to $9.50 in a report on Wednesday, February 27th. BidaskClub raised shares of Immersion from a “strong sell” rating to a “sell” rating in a report on Thursday, February 7th. Finally, ValuEngine raised shares of Immersion from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $13.17.
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Immersion Corporation creates, designs, develops, and licenses haptic technologies in North America, Europe, and Asia. Its technologies allow people to use their sense of touch when they engage with various digital products. The company offers TouchSense Lite and TouchSense Premium patent licenses, haptic technologies to original equipment manufacturers.
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