Insider Buying: Immersion Co. (NASDAQ:IMMR) CEO Acquires 42,638 Shares of Stock

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

Immersion Price Performance

Shares of NASDAQ:IMMR traded down $0.10 on Friday, reaching $7.46. 565,067 shares of the company were exchanged, compared to its average volume of 690,254. 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 Co. has a 1-year low of $7.06 and a 1-year high of $13.94. The company has a 50-day moving average of $8.21 and a 200-day moving average of $8.56. The firm has a market cap of $241.67 million, a price-to-earnings ratio of 2.66 and a beta of 1.55.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings data on Wednesday, March 12th. The software maker reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.33. The firm had revenue of $474.76 million during 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 forecast that Immersion Co. will post 1.57 earnings per share for the current fiscal year.

Immersion Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC boosted its position in Immersion by 128.3% during the fourth quarter. Millennium Management LLC now owns 794,767 shares of the software maker’s stock worth $6,938,000 after acquiring an additional 446,623 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Immersion by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 755,713 shares of the software maker’s stock worth $6,599,000 after purchasing an additional 17,418 shares during the last quarter. State Street Corp grew its position in shares of Immersion by 1.0% in the third quarter. State Street Corp now owns 681,414 shares of the software maker’s stock valued at $6,078,000 after purchasing an additional 6,990 shares during the period. Kanen Wealth Management LLC increased its stake in Immersion by 84.6% in the fourth quarter. Kanen Wealth Management LLC now owns 600,000 shares of the software maker’s stock valued at $5,238,000 after purchasing an additional 275,000 shares during the last quarter. Finally, Segall Bryant & Hamill LLC lifted its position in Immersion by 41.7% during the fourth quarter. Segall Bryant & Hamill LLC now owns 494,574 shares of the software maker’s stock worth $4,318,000 after buying an additional 145,546 shares during the period. Institutional investors and hedge funds own 60.57% of the company’s stock.

Analysts Set New Price Targets

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