Immersion Co. (IMMR) Position Cut by Nokomis Capital L.L.C.

Nokomis Capital L.L.C. reduced its position in shares of Immersion Co. (NASDAQ:IMMR) by 77.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 378,278 shares of the software maker’s stock after selling 1,300,876 shares during the period. Immersion accounts for about 0.9% of Nokomis Capital L.L.C.’s holdings, making the stock its 28th biggest holding. Nokomis Capital L.L.C. owned approximately 1.25% of Immersion worth $4,520,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in IMMR. Raging Capital Management LLC increased its position in Immersion by 67.7% during the fourth quarter. Raging Capital Management LLC now owns 4,779,346 shares of the software maker’s stock worth $33,742,000 after purchasing an additional 1,930,057 shares during the last quarter. University of Notre Dame DU Lac increased its position in Immersion by 37.4% during the fourth quarter. University of Notre Dame DU Lac now owns 977,371 shares of the software maker’s stock worth $6,900,000 after purchasing an additional 266,249 shares during the last quarter. Baird Financial Group Inc. purchased a new position in Immersion during the first quarter worth about $2,621,000. A.R.T. Advisors LLC purchased a new position in Immersion during the first quarter worth about $1,607,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Immersion during the first quarter worth about $1,537,000. Hedge funds and other institutional investors own 78.55% of the company’s stock.

Shares of Immersion opened at $17.15 on Thursday, MarketBeat Ratings reports. The stock has a market cap of $509.82 million, a price-to-earnings ratio of -14.41, a P/E/G ratio of 0.63 and a beta of 1.21. Immersion Co. has a 1-year low of $5.76 and a 1-year high of $17.70.

Immersion (NASDAQ:IMMR) last announced its earnings results on Thursday, May 10th. The software maker reported $2.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.77. Immersion had a net margin of 33.68% and a return on equity of 118.96%. The company had revenue of $85.42 million during the quarter, compared to analyst estimates of $57.70 million. During the same quarter last year, the firm posted ($0.39) earnings per share. Immersion’s revenue was up 826.5% compared to the same quarter last year. equities analysts forecast that Immersion Co. will post 1.76 EPS for the current year.

In other news, major shareholder Senvest Management, Llc sold 384,568 shares of the firm’s stock in a transaction that occurred on Monday, May 21st. The shares were sold at an average price of $13.39, for a total value of $5,149,365.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 1,027,971 shares of company stock valued at $14,458,294. Insiders own 18.59% of the company’s stock.

Several research analysts have weighed in on IMMR shares. BidaskClub raised shares of Immersion from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 28th. ValuEngine raised shares of Immersion from a “hold” rating to a “buy” rating in a research note on Monday. Zacks Investment Research lowered shares of Immersion from a “hold” rating to a “sell” rating in a research note on Saturday, February 24th. Craig Hallum increased their target price on shares of Immersion from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, Dougherty & Co reaffirmed a “buy” rating and set a $14.00 target price (up previously from $10.00) on shares of Immersion in a research note on Friday, February 23rd. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $13.85.

About Immersion

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 toolkits that enable original equipment manufacturers and their suppliers to add customized haptic technologies to their own branded devices and other products.

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Institutional Ownership by Quarter for Immersion (NASDAQ:IMMR)

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