William C. Martin Buys 27,150 Shares of Immersion Co. (NASDAQ:IMMR) Stock

Immersion Co. (NASDAQ:IMMR) insider William C. Martin purchased 27,150 shares of the business’s stock in a transaction on 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 directly owns 1,450,693 shares of the company’s stock, valued at approximately $10,952,732.15. This trade represents a 1.91 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Immersion Stock Performance

Shares of IMMR opened at $7.91 on Thursday. The stock has a 50-day simple moving average of $8.17 and a 200-day simple moving average of $8.54. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.94 and a current ratio of 1.65. Immersion Co. has a 1 year low of $7.06 and a 1 year high of $13.94. The stock has a market capitalization of $256.25 million, a PE ratio of 2.83 and a beta of 1.55.

Immersion (NASDAQ:IMMR) last announced its quarterly earnings data on Wednesday, March 12th. The software maker reported $0.47 EPS 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 the consensus estimate of $9.45 million. Immersion had a net margin of 11.79% and a return on equity of 28.08%. On average, analysts predict that Immersion Co. will post 1.57 earnings per share for the current fiscal year.

Immersion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 14th will be given a dividend of $0.045 per share. The ex-dividend date is Monday, April 14th. This represents a $0.18 annualized dividend and a dividend yield of 2.28%. Immersion’s dividend payout ratio is currently 6.47%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IMMR. Victory Capital Management Inc. increased its stake in Immersion by 8.3% in the third quarter. Victory Capital Management Inc. now owns 405,480 shares of the software maker’s stock valued at $3,617,000 after purchasing an additional 31,063 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of 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 during the last quarter. D.A. Davidson & CO. purchased a new position in shares of Immersion in the 3rd quarter valued at $235,000. Quantbot Technologies LP acquired a new stake in Immersion during the 3rd quarter worth $78,000. Finally, FMR LLC boosted its stake in Immersion by 518.2% in the third quarter. FMR LLC now owns 19,481 shares of the software maker’s stock valued at $174,000 after acquiring an additional 16,330 shares in the last quarter. Hedge funds and other institutional investors own 60.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. BWS Financial restated a “buy” rating and issued a $13.50 price objective on shares of Immersion in a report on Thursday, March 13th. Craig Hallum dropped their price target on shares of Immersion from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, March 13th.

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.