36,635 Shares in Immersion Co. (NASDAQ:IMMR) Acquired by Diametric Capital LP

Diametric Capital LP acquired a new position in shares of Immersion Co. (NASDAQ:IMMR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 36,635 shares of the software maker’s stock, valued at approximately $320,000. Diametric Capital LP owned approximately 0.11% of Immersion as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Kanen Wealth Management LLC boosted its stake in shares of Immersion by 84.6% in the 4th 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. Raymond James Financial Inc. acquired a new position in Immersion in the fourth quarter valued at approximately $1,644,000. Segall Bryant & Hamill LLC boosted its stake in Immersion by 41.7% in the fourth quarter. Segall Bryant & Hamill LLC now owns 494,574 shares of the software maker’s stock valued at $4,318,000 after acquiring an additional 145,546 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Immersion during the 3rd quarter valued at $740,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Immersion by 16.8% in the 4th quarter. Bank of New York Mellon Corp now owns 358,240 shares of the software maker’s stock valued at $3,127,000 after purchasing an additional 51,655 shares during the period. 60.57% of the stock is currently owned by institutional investors.

Insider Transactions at Immersion

In other news, insider William C. Martin acquired 27,150 shares of Immersion stock in a transaction dated Thursday, March 20th. The stock was bought at an average cost of $7.55 per share, with a total value of $204,982.50. Following the completion of the transaction, the insider now directly owns 1,450,693 shares of the company’s stock, valued at approximately $10,952,732.15. This represents a 1.91 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric Singer bought 42,638 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average cost of $7.51 per share, for a total transaction of $320,211.38. Following the transaction, the chief executive officer now owns 2,161,866 shares in the company, valued at $16,235,613.66. The trade was a 2.01 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 128,934 shares of company stock valued at $1,027,343 over the last quarter. Corporate insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

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

Immersion Stock Performance

IMMR stock opened at $7.74 on Wednesday. Immersion Co. has a 1-year low of $7.06 and a 1-year high of $13.94. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.37. The firm has a market cap of $250.75 million, a PE ratio of 2.76 and a beta of 1.55. The business’s 50-day moving average price is $8.10 and its two-hundred day moving average price is $8.51.

Immersion (NASDAQ:IMMR) last released its quarterly earnings data 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. Immersion had a return on equity of 28.08% and a net margin of 11.79%. The business had revenue of $474.76 million for the quarter, compared to analysts’ expectations of $9.45 million. As a group, research analysts forecast that Immersion Co. will post 1.57 earnings per share for the current year.

Immersion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 14th will be issued a $0.045 dividend. This represents a $0.18 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Monday, April 14th. Immersion’s dividend payout ratio (DPR) is presently 6.47%.

Immersion 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.