Immersion Co. (NASDAQ:IMMR) Director Childress Frederick Wasch Acquires 1,155 Shares

Immersion Co. (NASDAQ:IMMR) Director Childress Frederick Wasch acquired 1,155 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was purchased at an average cost of $8.68 per share, with a total value of $10,025.40. Following the purchase, the director now directly owns 66,098 shares in the company, valued at approximately $573,730.64. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Immersion Stock Performance

Shares of NASDAQ IMMR opened at $9.40 on Friday. The stock has a market cap of $299.44 million, a price-to-earnings ratio of 6.86 and a beta of 1.50. The business has a 50 day simple moving average of $10.66 and a 200 day simple moving average of $9.01. Immersion Co. has a 52 week low of $5.94 and a 52 week high of $13.94.

Immersion (NASDAQ:IMMR) last announced its quarterly earnings results on Monday, August 19th. The software maker reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.55. Immersion had a return on equity of 24.50% and a net margin of 62.74%. The company had revenue of $99.42 million during the quarter, compared to analysts’ expectations of $7.29 million. On average, analysts predict that Immersion Co. will post 1.54 EPS for the current year.

Immersion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Friday, October 4th. Immersion’s dividend payout ratio (DPR) is 13.14%.

Institutional Trading of Immersion

Hedge funds have recently added to or reduced their stakes in the business. Truist Financial Corp boosted its position in shares of Immersion by 15.3% in the second quarter. Truist Financial Corp now owns 45,132 shares of the software maker’s stock valued at $425,000 after acquiring an additional 6,000 shares during the period. Quarry LP acquired a new stake in Immersion in the 2nd quarter worth $26,000. The Manufacturers Life Insurance Company increased its holdings in shares of Immersion by 10.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,315 shares of the software maker’s stock worth $116,000 after purchasing an additional 1,139 shares during the period. Deerfield Management Company L.P. Series C raised its position in shares of Immersion by 24.0% during the second quarter. Deerfield Management Company L.P. Series C now owns 56,830 shares of the software maker’s stock valued at $535,000 after buying an additional 11,004 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Immersion by 226.9% in the second quarter. Marshall Wace LLP now owns 178,859 shares of the software maker’s stock valued at $1,683,000 after buying an additional 124,143 shares during the period. Institutional investors own 60.57% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IMMR. StockNews.com raised Immersion from a “hold” rating to a “buy” rating in a research report on Thursday. BWS Financial lifted their target price on Immersion from $11.00 to $13.50 and gave the company a “buy” rating in a research note on Monday, August 26th.

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.