Immersion Co. (NASDAQ:IMMR) Shares Sold by Royce & Associates LP

Royce & Associates LP cut its holdings in shares of Immersion Co. (NASDAQ:IMMR) by 28.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 629,777 shares of the software maker’s stock after selling 250,262 shares during the period. Royce & Associates LP owned 1.96% of Immersion worth $5,618,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in Immersion during the 2nd quarter valued at about $3,375,000. ClariVest Asset Management LLC acquired a new position in shares of Immersion during the second quarter valued at about $1,571,000. Renaissance Technologies LLC raised its position in shares of Immersion by 43.3% in the 2nd quarter. Renaissance Technologies LLC now owns 498,213 shares of the software maker’s stock valued at $4,688,000 after purchasing an additional 150,513 shares during the last quarter. Los Angeles Capital Management LLC raised its position in shares of 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 purchasing an additional 126,247 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in Immersion by 226.9% in the 2nd quarter. Marshall Wace LLP now owns 178,859 shares of the software maker’s stock worth $1,683,000 after purchasing an additional 124,143 shares in the last quarter. Hedge funds and other institutional investors own 60.57% of the company’s stock.

Insider Buying and Selling at Immersion

In related news, CEO Eric Singer acquired 50,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were acquired at an average price of $8.77 per share, for a total transaction of $438,500.00. Following the transaction, the chief executive officer now owns 1,912,867 shares in the company, valued at approximately $16,775,843.59. This trade represents a 2.68 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William C. Martin acquired 15,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were purchased at an average cost of $8.81 per share, for a total transaction of $132,150.00. Following the purchase, the insider now directly owns 1,364,265 shares in the company, valued at approximately $12,019,174.65. This trade represents a 1.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 66,155 shares of company stock worth $580,675. Insiders own 5.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on IMMR shares. BWS Financial upped their price target on shares of Immersion from $11.00 to $13.50 and gave the company a “buy” rating in a research note on Monday, August 26th. StockNews.com raised Immersion from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th.

Immersion Price Performance

Shares of NASDAQ IMMR opened at $8.51 on Tuesday. Immersion Co. has a 52 week low of $6.33 and a 52 week high of $13.94. The company has a quick ratio of 0.72, a current ratio of 1.55 and a debt-to-equity ratio of 0.44. The firm has a market cap of $274.70 million, a P/E ratio of 4.15 and a beta of 1.48. The business’s 50 day moving average price is $8.63 and its 200 day moving average price is $9.59.

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

Immersion Dividend Announcement

The business also recently declared a None dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be given a dividend of $0.245 per share. The ex-dividend date is Friday, January 10th. Immersion’s dividend payout ratio is currently 8.78%.

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.