MorganRosel Wealth Management LLC Makes New $1.06 Million Investment in Immersion Co. (NASDAQ:IMMR)

MorganRosel Wealth Management LLC purchased a new stake in Immersion Co. (NASDAQ:IMMR) during the third quarter, HoldingsChannel reports. The institutional investor purchased 119,220 shares of the software maker’s stock, valued at approximately $1,063,000.

Several other institutional investors and hedge funds also recently modified their holdings of IMMR. SG Americas Securities LLC bought a new position in Immersion in the third quarter valued at $162,000. Truist Financial Corp grew its stake 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 buying an additional 6,000 shares in the last quarter. Quarry LP acquired a new position in Immersion during the second quarter worth $26,000. The Manufacturers Life Insurance Company raised its position in Immersion by 10.2% during the second quarter. The Manufacturers Life Insurance Company now owns 12,315 shares of the software maker’s stock worth $116,000 after acquiring an additional 1,139 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C grew its position in shares of Immersion by 24.0% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 56,830 shares of the software maker’s stock valued at $535,000 after acquiring an additional 11,004 shares during the period. 60.57% of the stock is owned by institutional investors and hedge funds.

Immersion Stock Performance

NASDAQ IMMR opened at $8.50 on Friday. The stock has a market cap of $270.77 million, a PE ratio of 6.20 and a beta of 1.48. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.72 and a current ratio of 1.55. The firm has a 50-day moving average of $9.22 and a 200-day moving average of $9.34. Immersion Co. has a 52-week low of $5.94 and a 52-week high of $13.94.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings data on Monday, August 19th. The software maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.55. The firm had revenue of $99.42 million during the quarter, compared to the consensus estimate of $7.29 million. Immersion had a net margin of 40.62% and a return on equity of 27.05%. On average, sell-side analysts anticipate that Immersion Co. will post 1.96 EPS for the current year.

Immersion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, October 4th will be given a $0.045 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.12%. Immersion’s payout ratio is presently 13.14%.

Insider Activity at Immersion

In related news, CEO Eric Singer purchased 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was acquired at an average cost of $8.77 per share, for a total transaction of $438,500.00. Following the completion of the purchase, the chief executive officer now owns 1,912,867 shares in the company, valued at approximately $16,775,843.59. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider William C. Martin bought 15,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was bought at an average cost of $8.81 per share, for a total transaction of $132,150.00. Following the transaction, the insider now owns 1,364,265 shares of the company’s stock, valued at $12,019,174.65. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric Singer bought 50,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were acquired at an average price of $8.77 per share, with a total value of $438,500.00. Following the completion of the purchase, the chief executive officer now directly owns 1,912,867 shares of the company’s stock, valued at approximately $16,775,843.59. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 66,155 shares of company stock worth $580,675. Corporate insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.