In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Immersion Corp (NASDAQ:IMMR) reported that Raging Capital Management has picked up 2,849,289 of common stock as of 2017-05-12.
The acquisition brings the aggregate amount owned by Raging Capital Management to a total of 2,849,289 representing less than 9.8% stake in the company.
For those not familiar with the company, Immersion Corporation is a licensing company focused on the creation, design, development and licensing of haptic technologies that allow people to use their sense of touch when operating digital devices. The Company develops, licenses and supports a range of software and intellectual property (IP). It is focused on the markets, including mobile devices, wearables, consumer, mobile entertainment and other content; console gaming; automotive; medical, and commercial. It provides advanced tactile software, related tools and technical assistance to certain customers, and offers licenses to its patented IP to other customers. Its licenses enable customers to deploy haptically-enabled devices, content and other offerings, which they sell under own brand names. It holds patents, covering digital technologies and including ways in which touch-related technology can be incorporated into and between hardware products and components, systems software, application software, and digital content.
A glance at Immersion Corp (NASDAQ:IMMR)’s key stats reveals a current market capitalization of 256.92 Million based on 29.17 Million shares outstanding and a price at last close of $8.85 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-03-09, Habiger picked up 2,440 at a purchase price of $8.19. This brings their total holding to 29,275 as of the date of the filing.
On the sell side, the most recent transaction saw Peters unload 866 shares at a sale price of $8.47. This brings their total holding to 57,905.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Immersion Corp (NASDAQ:IMMR) as things move forward to see if its progress aligns with these transactions.
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