Northern Trust Corp Decreases Stock Position in Immersion Co. (NASDAQ:IMMR)

Northern Trust Corp trimmed its position in Immersion Co. (NASDAQ:IMMR) by 66.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,586 shares of the software maker’s stock after selling 132,976 shares during the period. Northern Trust Corp owned about 0.22% of Immersion worth $601,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC purchased a new position in Immersion in the 2nd quarter valued at about $38,000. Captrust Financial Advisors purchased a new position in Immersion in the 1st quarter valued at about $81,000. Advisor Group Holdings Inc. lifted its holdings in Immersion by 135.0% in the 2nd quarter. Advisor Group Holdings Inc. now owns 8,617 shares of the software maker’s stock valued at $76,000 after purchasing an additional 4,950 shares in the last quarter. Trexquant Investment LP purchased a new position in Immersion in the 2nd quarter valued at about $123,000. Finally, Perennial Investment Advisors LLC lifted its holdings in Immersion by 45.3% in the 2nd quarter. Perennial Investment Advisors LLC now owns 18,750 shares of the software maker’s stock valued at $164,000 after purchasing an additional 5,850 shares in the last quarter. Institutional investors own 55.72% of the company’s stock.

Several brokerages have recently weighed in on IMMR. Colliers Securities lowered shares of Immersion from a “buy” rating to a “neutral” rating in a report on Thursday, November 4th. Zacks Investment Research lowered shares of Immersion from a “hold” rating to a “sell” rating in a report on Friday, November 5th.

Shares of IMMR stock opened at $6.03 on Tuesday. The firm’s 50-day simple moving average is $7.03 and its 200-day simple moving average is $7.60. The firm has a market cap of $199.15 million, a P/E ratio of 9.14, a PEG ratio of 0.73 and a beta of 1.86. Immersion Co. has a 1-year low of $5.59 and a 1-year high of $16.64.

Immersion (NASDAQ:IMMR) last posted its earnings results on Wednesday, November 3rd. The software maker reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.01. The firm had revenue of $7.17 million during the quarter. Immersion had a net margin of 53.02% and a return on equity of 19.17%. As a group, equities analysts expect that Immersion Co. will post 0.54 earnings per share for the current year.

In other Immersion news, Director William C. Martin sold 519,145 shares of the stock in a transaction that occurred on Wednesday, November 10th. The shares were sold at an average price of $7.04, for a total value of $3,654,780.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aaron Akerman sold 4,014 shares of the stock in a transaction that occurred on Friday, November 12th. The shares were sold at an average price of $6.76, for a total transaction of $27,134.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,164,041 shares of company stock valued at $8,385,989. Corporate insiders own 7.70% of the company’s stock.

Immersion Profile

Immersion Corp. engages in the creation, design, development and licensing of patented haptic innovations and software. The firm offers touch sense platform and design services. It focuses on the following target application areas: mobile devices, wearable, consumer, mobile entertainment and other content, console gaming, automotive, medical, and commercial.

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Institutional Ownership by Quarter for Immersion (NASDAQ:IMMR)