Immersion (NASDAQ:IMMR) CEO Eric Singer Purchases 41,000 Shares of Company Stock

Immersion Corporation (NASDAQ:IMMR) CEO Eric Singer purchased 41,000 shares of the business’s stock in a transaction on Wednesday, October 7th. The shares were purchased at an average price of $7.14 per share, with a total value of $292,740.00. Following the acquisition, the chief executive officer directly owned 2,230,664 shares in the company, valued at $15,926,940.96. This represents a 1.87% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Immersion Stock Down 1.7%

Shares of IMMR opened at $7.14 on Friday. The stock has a market capitalization of $237.12 million, a price-to-earnings ratio of 21.00 and a beta of 1.01. Immersion Corporation has a 1 year low of $5.25 and a 1 year high of $8.05. The business’s 50 day simple moving average is $7.46 and its 200-day simple moving average is $6.76. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.14 and a quick ratio of 1.16.

Immersion (NASDAQ:IMMR) last posted its earnings results on Monday, September 14th. The software maker reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.11. Immersion had a return on equity of 1.83% and a net margin of 0.60%.The firm had revenue of $294.40 million during the quarter, compared to the consensus estimate of $3.43 million. As a group, equities analysts expect that Immersion Corporation will post 0.26 earnings per share for the current fiscal year.

Immersion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be paid a $0.0750 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, October 16th. Immersion’s dividend payout ratio (DPR) is presently 88.24%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on IMMR shares. BWS Financial restated a “buy” rating and set a $13.50 target price on shares of Immersion in a research report on Tuesday, July 28th. Wall Street Zen upgraded Immersion from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings raised Immersion from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, September 16th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Immersion has a consensus rating of “Hold” and an average target price of $13.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Immersion in the second quarter valued at $16,527,000. Kanen Wealth Management LLC boosted its stake in shares of Immersion by 51.0% during the 1st quarter. Kanen Wealth Management LLC now owns 709,000 shares of the software maker’s stock worth $3,871,000 after purchasing an additional 239,318 shares during the period. Squarepoint Ops LLC grew its holdings in Immersion by 34.4% during the 2nd quarter. Squarepoint Ops LLC now owns 549,689 shares of the software maker’s stock valued at $3,721,000 after purchasing an additional 140,741 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Immersion in the 2nd quarter worth about $2,128,000. Finally, Bank of America Corp DE purchased a new stake in Immersion in the 2nd quarter worth about $763,000. 60.57% of the stock is owned by hedge funds and other institutional investors.

Immersion Company Profile

Immersion Corporation is a technology company that develops and licenses haptic technologies, which enable electronic devices to provide tactile feedback such as vibrations, textures and other touch sensations. Its technologies are designed to make digital interactions more intuitive and immersive.

The company’s haptic solutions and intellectual property are used across a range of markets, including smartphones and other consumer electronics, gaming systems and controllers, automotive interfaces, medical equipment and industrial devices.