J Michael Dodson Sells 4,947 Shares of Immersion Co. (NASDAQ:IMMR) Stock

Immersion Co. (NASDAQ:IMMR) CFO J Michael Dodson sold 4,947 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $10.68, for a total transaction of $52,833.96. Following the sale, the chief financial officer now owns 45,053 shares of the company’s stock, valued at approximately $481,166.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Immersion Trading Down 0.5 %

IMMR stock opened at $10.63 on Monday. The business has a 50 day simple moving average of $8.56 and a 200-day simple moving average of $7.58. The company has a market capitalization of $338.57 million, a P/E ratio of 7.76 and a beta of 1.48. Immersion Co. has a twelve month low of $5.94 and a twelve month high of $10.92.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings results on Wednesday, May 8th. The software maker reported $0.59 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.59. The firm had revenue of $43.85 million during the quarter, compared to analysts’ expectations of $24.94 million. Immersion had a net margin of 62.74% and a return on equity of 24.50%. Research analysts predict that Immersion Co. will post 1.17 EPS for the current fiscal year.

Immersion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Monday, July 8th will be given a $0.045 dividend. This represents a $0.18 annualized dividend and a yield of 1.69%. The ex-dividend date is Monday, July 8th. Immersion’s dividend payout ratio (DPR) is presently 13.14%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of Immersion from a “hold” rating to a “buy” rating in a research note on Friday, May 17th. BWS Financial reissued a “buy” rating and issued a $11.00 target price on shares of Immersion in a report on Thursday, May 23rd.

Institutional Trading of Immersion

Several institutional investors and hedge funds have recently added to or reduced their stakes in IMMR. Tower Research Capital LLC TRC increased its holdings in shares of Immersion by 288.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,142 shares of the software maker’s stock valued at $29,000 after purchasing an additional 3,076 shares during the period. Quantbot Technologies LP purchased a new position in Immersion during the 3rd quarter worth $41,000. Lazard Asset Management LLC acquired a new stake in shares of Immersion in the 1st quarter worth $72,000. Brandywine Global Investment Management LLC purchased a new stake in shares of Immersion in the third quarter valued at about $98,000. Finally, EMC Capital Management purchased a new stake in shares of Immersion in the first quarter valued at about $120,000. 60.57% of the stock is owned by hedge funds and other institutional investors.

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.