Immersion Co. (NASDAQ:IMMR) Short Interest Update

Immersion Co. (NASDAQ:IMMR) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 3,080,000 shares, a growth of 35.7% from the August 15th total of 2,270,000 shares. Currently, 10.8% of the company’s shares are sold short. Based on an average daily trading volume, of 996,000 shares, the days-to-cover ratio is currently 3.1 days.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. StockNews.com upgraded Immersion from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. BWS Financial lifted their price target on Immersion from $11.00 to $13.50 and gave the stock a “buy” rating in a research report on Monday, August 26th.

Insider Activity

In other Immersion news, insider William C. Martin bought 15,000 shares of Immersion stock in a transaction on Tuesday, August 27th. The shares were bought at an average cost of $8.81 per share, for a total transaction of $132,150.00. Following the acquisition, the insider now directly owns 1,364,265 shares in the company, valued at $12,019,174.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider William C. Martin acquired 15,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were bought at an average cost of $8.81 per share, with a total value of $132,150.00. Following the transaction, the insider now owns 1,364,265 shares in the company, valued at approximately $12,019,174.65. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Eric Singer acquired 50,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were purchased at an average cost of $8.77 per share, with a total value of $438,500.00. Following the completion of the transaction, the chief executive officer now owns 1,912,867 shares in the company, valued at approximately $16,775,843.59. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 66,155 shares of company stock valued at $580,675. 5.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Immersion

A number of large investors have recently bought and sold shares of IMMR. Acadian Asset Management LLC acquired a new position in shares of Immersion during the second quarter worth about $3,375,000. GSA Capital Partners LLP acquired a new position in shares of Immersion during the first quarter worth $1,285,000. ClariVest Asset Management LLC acquired a new stake in Immersion during the 2nd quarter valued at $1,571,000. Renaissance Technologies LLC lifted its holdings in Immersion by 43.3% in the 2nd quarter. Renaissance Technologies LLC now owns 498,213 shares of the software maker’s stock worth $4,688,000 after buying an additional 150,513 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in Immersion by 151.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 209,675 shares of the software maker’s stock valued at $1,973,000 after buying an additional 126,247 shares during the last quarter. Hedge funds and other institutional investors own 60.57% of the company’s stock.

Immersion Trading Down 4.6 %

IMMR stock traded down $0.43 during midday trading on Monday, hitting $8.85. The stock had a trading volume of 982,510 shares, compared to its average volume of 699,129. Immersion has a 12-month low of $5.94 and a 12-month high of $13.94. The firm has a market cap of $281.92 million, a PE ratio of 6.36 and a beta of 1.48. The company’s 50-day moving average price is $10.53 and its 200 day moving average price is $9.18. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.55 and a quick ratio of 0.72.

Immersion (NASDAQ:IMMR) last released its earnings results on Monday, August 19th. The software maker reported $0.89 EPS for the quarter, beating the consensus estimate of $0.34 by $0.55. The firm had revenue of $99.42 million during the quarter, compared to analyst estimates of $7.29 million. Immersion had a return on equity of 27.05% and a net margin of 40.62%. On average, equities research analysts predict that Immersion will post 1.96 earnings per share for the current fiscal year.

Immersion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, October 4th will be issued a $0.045 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.18 dividend on an annualized basis and a yield of 2.03%. Immersion’s payout ratio is 13.14%.

Immersion Company 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.