Immersion Co. (NASDAQ:IMMR) CEO Purchases $320,211.38 in Stock

Immersion Co. (NASDAQ:IMMR) CEO Eric Singer purchased 42,638 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were bought 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 trade represents a 2.01 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Immersion Trading Down 1.3 %

IMMR opened at $7.46 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.65 and a quick ratio of 0.94. The company’s 50 day simple moving average is $8.21 and its two-hundred day simple moving average is $8.56. The firm has a market capitalization of $241.67 million, a price-to-earnings ratio of 2.66 and a beta of 1.55. Immersion Co. has a 1-year low of $7.06 and a 1-year high of $13.94.

Immersion (NASDAQ:IMMR) last issued its earnings results on Wednesday, March 12th. The software maker reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.33. Immersion had a net margin of 11.79% and a return on equity of 28.08%. The company had revenue of $474.76 million for the quarter, compared to the consensus estimate of $9.45 million. Analysts expect that Immersion Co. will post 1.57 EPS for the current fiscal year.

Immersion Dividend Announcement

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

Institutional Trading of Immersion

Institutional investors and hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its position in shares of Immersion by 5.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,443 shares of the software maker’s stock valued at $284,000 after acquiring an additional 1,604 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of Immersion by 8.5% during the 4th quarter. ProShare Advisors LLC now owns 26,318 shares of the software maker’s stock worth $230,000 after purchasing an additional 2,064 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Immersion by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 86,910 shares of the software maker’s stock valued at $775,000 after purchasing an additional 2,416 shares during the last quarter. Legal & General Group Plc raised its position 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 purchasing an additional 2,425 shares during the period. Finally, Franklin Resources Inc. lifted its stake in Immersion by 5.8% during the third quarter. Franklin Resources Inc. now owns 52,804 shares of the software maker’s stock worth $447,000 after purchasing an additional 2,879 shares in the last quarter. 60.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IMMR has been the topic of several analyst reports. BWS Financial restated a “buy” rating and set a $13.50 price target on shares of Immersion in a research report on Thursday, March 13th. Craig Hallum decreased 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.