Immersion Co. (NASDAQ:IMMR) Insider Buys $204,982.50 in Stock

Immersion Co. (NASDAQ:IMMR) insider William C. Martin acquired 27,150 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were acquired at an average price of $7.55 per share, for a total transaction of $204,982.50. Following the completion of the purchase, the insider now owns 1,450,693 shares of the company’s stock, valued at approximately $10,952,732.15. This represents a 1.91 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Immersion Stock Up 4.8 %

NASDAQ:IMMR traded up $0.36 during midday trading on Monday, reaching $7.82. 769,551 shares of the stock traded hands, compared to its average volume of 517,110. The stock has a market capitalization of $253.34 million, a PE ratio of 2.79 and a beta of 1.55. Immersion Co. has a 12-month low of $7.06 and a 12-month high of $13.94. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.94 and a current ratio of 1.65. The business has a 50-day moving average of $8.21 and a two-hundred day moving average of $8.56.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings data on Wednesday, March 12th. The software maker reported $0.47 EPS for the quarter, beating the consensus estimate of $0.14 by $0.33. The firm had revenue of $474.76 million during the quarter, compared to analyst estimates of $9.45 million. Immersion had a return on equity of 28.08% and a net margin of 11.79%. On average, equities analysts forecast that Immersion Co. will post 1.57 earnings per share for the current fiscal year.

Immersion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 14th will be paid a dividend of $0.045 per share. The ex-dividend date is Monday, April 14th. This represents a $0.18 annualized dividend and a yield of 2.30%. Immersion’s payout ratio is presently 6.47%.

Hedge Funds Weigh In On Immersion

Institutional investors have recently bought and sold shares of the business. Millennium Management LLC grew its position in Immersion by 128.3% during the 4th quarter. Millennium Management LLC now owns 794,767 shares of the software maker’s stock worth $6,938,000 after purchasing an additional 446,623 shares during the period. Kanen Wealth Management LLC boosted its stake in shares of Immersion by 84.6% in the fourth quarter. Kanen Wealth Management LLC now owns 600,000 shares of the software maker’s stock worth $5,238,000 after buying an additional 275,000 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Immersion in the fourth quarter worth about $1,644,000. Segall Bryant & Hamill LLC grew its holdings in Immersion by 41.7% during the fourth quarter. Segall Bryant & Hamill LLC now owns 494,574 shares of the software maker’s stock worth $4,318,000 after acquiring an additional 145,546 shares during the period. Finally, Sanctuary Advisors LLC purchased a new position in Immersion during the third quarter valued at approximately $740,000. 60.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. BWS Financial reaffirmed a “buy” rating and set a $13.50 target price on shares of Immersion in a research report on Thursday, March 13th. Craig Hallum cut their target price on Immersion from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th.

About Immersion

Immersion Corporation, together with its subsidiaries, engages in the creation, design, development, and licensing of haptic technologies that allow people to use their sense of touch to engage with and experience various digital products in North America, Europe, and Asia. The company provides technology, patent, and combined licenses.