Immersion Co. (NASDAQ:IMMR) Director Buys $502,149.54 in Stock

Immersion Co. (NASDAQ:IMMR) Director Toro 18 Holdings Llc bought 59,146 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were acquired at an average price of $8.49 per share, for a total transaction of $502,149.54. Following the transaction, the director now directly owns 11,065,848 shares in the company, valued at $93,949,049.52. This trade represents a 0.54 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Immersion Stock Performance

IMMR opened at $7.60 on Friday. The stock has a market cap of $245.30 million, a P/E ratio of 2.71 and a beta of 1.55. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.65 and a quick ratio of 0.94. The stock’s 50 day simple moving average is $8.31 and its 200 day simple moving average is $8.61. Immersion Co. has a 1-year low of $7.06 and a 1-year high of $13.94.

Immersion (NASDAQ:IMMR) last released its quarterly earnings results on Wednesday, March 12th. The software maker reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.33. Immersion had a return on equity of 28.08% and a net margin of 11.79%. The business had revenue of $474.76 million for the quarter, compared to analysts’ expectations of $9.45 million. As a group, equities analysts anticipate that Immersion Co. will post 1.57 EPS for the current fiscal year.

Immersion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, April 14th will be paid a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Monday, April 14th. Immersion’s payout ratio is currently 4.64%.

Institutional Investors Weigh In On Immersion

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its stake in Immersion by 5.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,443 shares of the software maker’s stock valued at $284,000 after buying an additional 1,604 shares in the last quarter. ProShare Advisors LLC lifted its stake in Immersion by 8.5% in the 4th quarter. ProShare Advisors LLC now owns 26,318 shares of the software maker’s stock valued at $230,000 after buying an additional 2,064 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Immersion by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 86,910 shares of the software maker’s stock valued at $775,000 after buying an additional 2,416 shares in the last quarter. Legal & General Group Plc lifted its stake in Immersion by 44.2% in the 4th quarter. Legal & General Group Plc now owns 7,910 shares of the software maker’s stock valued at $69,000 after buying an additional 2,425 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Immersion by 5.8% during the 3rd quarter. Franklin Resources Inc. now owns 52,804 shares of the software maker’s stock worth $447,000 after purchasing an additional 2,879 shares during the period. Hedge funds and other institutional investors own 60.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IMMR. BWS Financial reiterated a “buy” rating and set a $13.50 target price on shares of Immersion in a research report on Thursday. Craig Hallum lowered their price target on Immersion from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday.

Immersion Company Profile

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.