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

Immersion (NASDAQ:IMMR) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

A number of other equities analysts also recently weighed in on the stock. Craig Hallum cut their price target on shares of Immersion from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. BWS Financial reissued a “buy” rating and issued a $13.50 price target on shares of Immersion in a report on Thursday, March 13th.

Immersion Price Performance

IMMR opened at $8.09 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.72 and a quick ratio of 1.04. The company has a market capitalization of $262.12 million, a price-to-earnings ratio of 2.91 and a beta of 1.41. The firm’s fifty day moving average price is $7.60 and its two-hundred day moving average price is $7.90. Immersion has a 1 year low of $6.47 and a 1 year high of $13.94.

Insider Transactions at Immersion

In related news, CFO J Michael Dodson sold 5,921 shares of the business’s 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 sale, the chief financial officer directly owned 39,132 shares in the company, valued at approximately $294,663.96. The trade was a 13.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Immersion

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMMR. PharVision Advisers LLC lifted its holdings in shares of Immersion by 14.5% in the first quarter. PharVision Advisers LLC now owns 26,478 shares of the software maker’s stock worth $201,000 after buying an additional 3,349 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings 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 worth $4,207,000 after acquiring an additional 60,822 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 worth $466,000 after acquiring an additional 44,112 shares during the period. Quarry LP increased its holdings in Immersion by 52.0% during the 1st quarter. Quarry LP now owns 9,370 shares of the software maker’s stock worth $71,000 after acquiring an additional 3,204 shares during the period. Finally, MetLife Investment Management LLC increased 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 period. 60.57% of the stock is currently owned by institutional investors.

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.