Immersion Co. (NASDAQ:IMMR) Short Interest Update

Immersion Co. (NASDAQ:IMMR) saw a large increase in short interest in June. As of June 15th, there was short interest totalling 1,740,000 shares, an increase of 76.0% from the May 31st total of 988,900 shares. Based on an average daily trading volume, of 499,100 shares, the days-to-cover ratio is presently 3.5 days. Currently, 6.0% of the company’s stock are short sold.

Analyst Ratings Changes

Several analysts have issued reports on IMMR shares. StockNews.com upgraded shares of Immersion from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. BWS Financial reiterated a “buy” rating and set a $11.00 target price on shares of Immersion in a research report on Thursday, May 23rd.

Immersion Price Performance

Shares of Immersion stock traded down $0.10 during trading on Friday, hitting $9.41. 805,704 shares of the company’s stock traded hands, compared to its average volume of 599,041. The firm’s fifty day moving average price is $9.13 and its 200 day moving average price is $7.82. Immersion has a twelve month low of $5.94 and a twelve month high of $11.04. The company has a market cap of $299.71 million, a PE ratio of 6.87 and a beta of 1.48.

Immersion (NASDAQ:IMMR) last issued its earnings results on Wednesday, May 8th. The software maker reported $0.59 earnings per share for the quarter, meeting the consensus estimate of $0.59. Immersion had a net margin of 62.74% and a return on equity of 24.50%. The business had revenue of $43.85 million for the quarter, compared to analyst estimates of $24.94 million. As a group, equities research analysts anticipate that Immersion will post 1.17 earnings per share for the current year.

Immersion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Monday, July 8th will be paid a dividend of $0.045 per share. The ex-dividend date of this dividend is Monday, July 8th. This represents a $0.18 annualized dividend and a yield of 1.91%. Immersion’s dividend payout ratio is 13.14%.

Insiders Place Their Bets

In other Immersion news, CFO J Michael Dodson sold 4,947 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $10.68, for a total value of $52,833.96. Following the completion of the sale, the chief financial officer now owns 45,053 shares in the company, valued at approximately $481,166.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.50% of the company’s stock.

Institutional Trading of Immersion

Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its stake in Immersion by 288.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,142 shares of the software maker’s stock worth $29,000 after buying an additional 3,076 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Immersion during the first quarter worth about $72,000. EMC Capital Management bought a new stake in Immersion during the first quarter worth about $120,000. Assenagon Asset Management S.A. bought a new stake in Immersion during the first quarter worth about $134,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Immersion during the first quarter valued at approximately $158,000. 60.57% of the stock is owned by 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.