ClariVest Asset Management LLC Invests $1.57 Million in Immersion Co. (NASDAQ:IMMR)

ClariVest Asset Management LLC acquired a new stake in shares of Immersion Co. (NASDAQ:IMMR) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 166,929 shares of the software maker’s stock, valued at approximately $1,571,000. ClariVest Asset Management LLC owned 0.52% of Immersion at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of IMMR. CWM LLC grew its holdings in Immersion by 160.3% during the second quarter. CWM LLC now owns 6,487 shares of the software maker’s stock valued at $61,000 after purchasing an additional 3,995 shares during the period. Lazard Asset Management LLC purchased a new position in shares of Immersion during the 1st quarter valued at about $72,000. Caprock Group LLC bought a new position in shares of Immersion during the 2nd quarter valued at approximately $107,000. EMC Capital Management purchased a new stake in Immersion in the 1st quarter worth approximately $120,000. Finally, Assenagon Asset Management S.A. bought a new stake in Immersion during the 1st quarter worth approximately $134,000. 60.57% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Eric Singer acquired 50,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was purchased at an average price of $8.77 per share, for a total transaction of $438,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,912,867 shares in the company, valued at approximately $16,775,843.59. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other news, insider William C. Martin acquired 15,000 shares of Immersion stock in a transaction on Tuesday, August 27th. The shares were acquired at an average price of $8.81 per share, with a total value of $132,150.00. Following the purchase, the insider now directly owns 1,364,265 shares in the company, valued at approximately $12,019,174.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Eric Singer bought 50,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were purchased at an average price of $8.77 per share, with a total value of $438,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,912,867 shares in the company, valued at approximately $16,775,843.59. The disclosure for this purchase can be found here. Insiders have purchased a total of 66,155 shares of company stock worth $580,675 in the last 90 days. 5.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of Immersion from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. BWS Financial upped their target price on shares of Immersion from $11.00 to $13.50 and gave the stock a “buy” rating in a report on Monday, August 26th.

Immersion Stock Performance

NASDAQ:IMMR opened at $8.70 on Thursday. The stock has a 50-day moving average price of $10.55 and a 200 day moving average price of $9.13. The stock has a market capitalization of $277.14 million, a P/E ratio of 6.35 and a beta of 1.48. Immersion Co. has a 12-month low of $5.94 and a 12-month high of $13.94. The company has a current ratio of 1.55, a quick ratio of 0.72 and a debt-to-equity ratio of 0.44.

Immersion (NASDAQ:IMMR) last announced its quarterly earnings data on Monday, August 19th. The software maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.55. Immersion had a net margin of 40.62% and a return on equity of 27.05%. The business had revenue of $99.42 million during the quarter, compared to analyst estimates of $7.29 million. Equities research analysts forecast that Immersion Co. will post 1.96 EPS for the current fiscal year.

Immersion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be issued a $0.045 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.18 dividend on an annualized basis and a yield of 2.07%. Immersion’s dividend payout ratio is currently 13.14%.

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.