Immersion Co. (NASDAQ:IMMR) Insider Acquires $204,982.50 in Stock

Immersion Co. (NASDAQ:IMMR) insider William C. Martin purchased 27,150 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was bought at an average cost of $7.55 per share, for a total transaction of $204,982.50. Following the purchase, the insider now owns 1,450,693 shares in the company, valued at $10,952,732.15. This represents a 1.91 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Immersion Trading Up 2.0 %

NASDAQ IMMR opened at $7.98 on Wednesday. The company has a market cap of $258.52 million, a PE ratio of 2.85 and a beta of 1.55. The stock has a 50 day moving average of $8.18 and a 200-day moving average of $8.55. Immersion Co. has a 12 month low of $7.06 and a 12 month 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.

Immersion (NASDAQ:IMMR) last posted its earnings results on Wednesday, March 12th. The software maker reported $0.47 EPS 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 company had revenue of $474.76 million for the quarter, compared to the consensus estimate of $9.45 million. On average, equities research analysts anticipate that Immersion Co. will post 1.57 EPS for the current fiscal year.

Immersion Dividend Announcement

The firm 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 dividend of $0.045 per share. The ex-dividend date is Monday, April 14th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.26%. Immersion’s dividend payout ratio (DPR) is currently 6.47%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Craig Hallum lowered their target price 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 report on Thursday, March 13th.

Institutional Trading of Immersion

A number of hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its stake in shares of Immersion by 29,900.0% during the fourth quarter. Farther Finance Advisors LLC now owns 3,000 shares of the software maker’s stock valued at $26,000 after acquiring an additional 2,990 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Immersion in the fourth quarter worth approximately $51,000. Quarry LP acquired a new position in shares of Immersion during the 4th quarter valued at $54,000. AlphaQuest LLC bought a new position in shares of Immersion during the 4th quarter worth about $61,000. Finally, Legal & General Group Plc grew its stake in Immersion by 44.2% in the fourth quarter. Legal & General Group Plc now owns 7,910 shares of the software maker’s stock valued at $69,000 after acquiring an additional 2,425 shares during the period. Institutional investors and hedge funds own 60.57% of the company’s stock.

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.