Immersion Co. (NASDAQ:IMMR) CEO Acquires $320,211.38 in Stock

Immersion Co. (NASDAQ:IMMR) CEO Eric Singer bought 42,638 shares of Immersion stock in a transaction on Thursday, March 20th. The shares were acquired at an average price of $7.51 per share, for a total transaction of $320,211.38. Following the completion of the acquisition, the chief executive officer now owns 2,161,866 shares in the company, valued at $16,235,613.66. This represents a 2.01 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Immersion Trading Down 1.3 %

Shares of NASDAQ:IMMR opened at $7.46 on Monday. The company has a market cap of $241.67 million, a PE ratio of 2.66 and a beta of 1.55. The company’s 50 day moving average is $8.21 and its two-hundred day moving average is $8.56. Immersion Co. has a 52 week low of $7.06 and a 52 week high of $13.94. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.37.

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

Immersion Announces Dividend

The firm 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 dividend of $0.045 per share. This represents a $0.18 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Monday, April 14th. Immersion’s payout ratio is 6.47%.

Hedge Funds Weigh In On Immersion

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMMR. PharVision Advisers LLC purchased a new stake in shares of Immersion during the 4th quarter worth approximately $202,000. Sherbrooke Park Advisers LLC purchased a new stake in Immersion in the fourth quarter valued at $170,000. ProShare Advisors LLC boosted its stake in Immersion by 8.5% in the fourth quarter. ProShare Advisors LLC now owns 26,318 shares of the software maker’s stock valued at $230,000 after acquiring an additional 2,064 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in Immersion by 11.0% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 494,167 shares of the software maker’s stock valued at $4,448,000 after acquiring an additional 48,843 shares in the last quarter. Finally, Occudo Quantitative Strategies LP purchased a new position in shares of Immersion during the fourth quarter worth about $186,000. 60.57% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IMMR has been the topic of several analyst reports. BWS Financial reiterated a “buy” rating and issued a $13.50 price objective on shares of Immersion in a research note on Thursday, March 13th. Craig Hallum reduced their price target on Immersion from $14.00 to $11.00 and set a “buy” rating on the stock in a research report 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.