Is Immersion Corporation (IMMR) A Good Stock To Buy?

Seeing as Immersion Corporation (NASDAQ:IMMR) has witnessed a declining sentiment from the entirety of the hedge funds we track, it’s safe to say that there were a few money managers that elected to cut their positions entirely by the end of the third quarter. It’s worth mentioning that Marc Majzner’s Clearline Capital cut the biggest investment of all the hedgies monitored by Insider Monkey, totaling an estimated $4 million in stock, and Andy Redleaf’s Whitebox Advisors was right behind this move, as the fund dumped about $0.4 million worth. These transactions are important to note, as total hedge fund interest dropped by 1 funds by the end of the third quarter.

Let’s now take a look at hedge fund activity in other stocks similar to Immersion Corporation (NASDAQ:IMMR). These stocks are Las Vegas Sands Corp. (NYSE:LVS), Landec Corporation (NASDAQ:LNDC), Stage Stores Inc (NYSE:SSI), and Ardmore Shipping Corp (NYSE:ASC). All of these stocks’ market caps resemble IMMR’s market cap.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was just $32 million, compared to $132 million in IMMR’s case. Landec Corporation (NASDAQ:LNDC) is the most popular stock in this table with a total of 13 funds reporting ownership of the company’s shares. On the other hand Las Vegas Sands Corp. (NYSE:LVS) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks, Immersion Corporation (NASDAQ:IMMR) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.