Eric Singer Purchases 42,638 Shares of Immersion Co. (NASDAQ:IMMR) Stock

Immersion Co. (NASDAQ:IMMR) CEO Eric Singer bought 42,638 shares of Immersion stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average cost of $7.51 per share, for a total transaction of $320,211.38. Following the completion of the transaction, the chief executive officer now directly owns 2,161,866 shares in the company, valued at $16,235,613.66. This represents a 2.01 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Immersion Stock Down 1.3 %

Immersion stock opened at $7.46 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.94 and a current ratio of 1.65. The business’s 50-day simple moving average is $8.21 and its two-hundred day simple moving average is $8.56. The company has a market cap of $241.67 million, a PE ratio of 2.66 and a beta of 1.55. Immersion Co. has a fifty-two week low of $7.06 and a fifty-two week high of $13.94.

Immersion (NASDAQ:IMMR) last posted its quarterly earnings results on Wednesday, March 12th. The software maker reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.33. The business had revenue of $474.76 million for the quarter, compared to the consensus estimate of $9.45 million. Immersion had a return on equity of 28.08% and a net margin of 11.79%. Equities analysts anticipate that Immersion Co. will post 1.57 EPS for the current year.

Immersion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 14th will be paid a dividend of $0.045 per share. The ex-dividend date is Monday, April 14th. This represents a $0.18 annualized dividend and a yield of 2.41%. Immersion’s payout ratio is presently 6.47%.

Institutional Trading of Immersion

Hedge funds have recently modified their holdings of the stock. Segall Bryant & Hamill LLC purchased a new stake in shares of Immersion in the third quarter worth about $3,113,000. Barclays PLC boosted its stake in shares of Immersion by 276.0% in the third quarter. Barclays PLC now owns 39,579 shares of the software maker’s stock worth $353,000 after buying an additional 29,054 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Immersion in the fourth quarter worth about $51,000. Franklin Resources Inc. boosted its stake in shares of Immersion by 5.8% in the third quarter. Franklin Resources Inc. now owns 52,804 shares of the software maker’s stock worth $447,000 after buying an additional 2,879 shares during the last quarter. Finally, State Street Corp boosted its stake 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 worth $6,078,000 after buying an additional 6,990 shares during the last quarter. Hedge funds and other institutional investors own 60.57% of the company’s stock.

Wall Street Analyst Weigh In

IMMR has been the topic of several recent analyst reports. BWS Financial reaffirmed a “buy” rating and set a $13.50 target price on shares of Immersion in a research report on Thursday, March 13th. Craig Hallum reduced their target price on Immersion from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th.

About Immersion

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.