Boardman Bay Capital Management buys $961,000 stake in Immersion Corporation (IMMR)

Immersion Corporation (IMMR) : Boardman Bay Capital Management scooped up 3,965 additional shares in Immersion Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 100,000 shares of Immersion Corporation which is valued at $961,000.Immersion Corporation makes up approximately 2.03% of Boardman Bay Capital Management’s portfolio.

Other Hedge Funds, Including , Alkeon Capital Management sold out all of its stake in IMMR during the most recent quarter. The investment firm sold 228,921 shares of IMMR which is valued $2,199,931.Geode Capital Management boosted its stake in IMMR in the latest quarter, The investment management firm added 2,992 additional shares and now holds a total of 219,166 shares of Immersion Corporation which is valued at $2,042,627.Blackrock Fund Advisors boosted its stake in IMMR in the latest quarter, The investment management firm added 62,013 additional shares and now holds a total of 812,388 shares of Immersion Corporation which is valued at $7,043,404. Fny Managed Accounts added IMMR to its portfolio by purchasing 5,000 company shares during the most recent quarter which is valued at $38,750. Immersion Corporation makes up approx 0.04% of Fny Managed Accounts’s portfolio.

Immersion Corporation opened for trading at $9.9 and hit $10.1 on the upside on Monday, eventually ending the session at $10.1, with a gain of 2.12% or 0.21 points. The heightened volatility saw the trading volume jump to 4,13,864 shares. Company has a market cap of $291 M.

On the company’s financial health, Immersion Corporation reported $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $0.26. The company had revenue of $26.30 million for the quarter, compared to analysts expectations of $27.83 million. The company’s revenue was up 83.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS.

Immersion Corporation is an intellectual property (IP) and software licensing company focused on the creation design development and licensing of haptic innovations and software that allow people to use their sense of touch more when operating a range of digital devices. The Company is focusing its marketing and business development activities on the following markets: mobile devices wearables consumer mobile entertainment and other content; console gaming; automotive; medical and commercial. In the target markets it licenses the software and IP to manufacturers for use in products sold under their own brand names. It has software licenses for TouchSense TouchSense 1000 TouchSense 2000 TouchSense Core Integrator and TouchSense Engage. It offers patent licenses in Basic Haptics and Force Feedback. It also offers Turn-key Engineering and Integration Services Design Kits for Prototyping Authoring Tools Application Programming Interfaces and Platform Independent Solutions.

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