Immersion Co. (NASDAQ:IMMR) CEO Eric Singer Purchases 42,638 Shares of Stock

Immersion Co. (NASDAQ:IMMR) CEO Eric Singer acquired 42,638 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average price of $7.51 per share, with a total value of $320,211.38. Following the acquisition, the chief executive officer now owns 2,161,866 shares in the company, valued at $16,235,613.66. This trade represents a 2.01 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Immersion Trading Down 1.3 %

Shares of NASDAQ IMMR opened at $7.46 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $8.21 and a two-hundred day simple moving average of $8.56. The firm has a market cap of $241.67 million, a PE ratio of 2.66 and a beta of 1.55. Immersion Co. has a twelve month low of $7.06 and a twelve month high of $13.94.

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

Immersion Dividend Announcement

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

Analysts Set New Price Targets

IMMR has been the subject of a number of research analyst reports. Craig Hallum decreased their target price on Immersion from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. BWS Financial reaffirmed a “buy” rating and set a $13.50 target price on shares of Immersion in a research report on Thursday, March 13th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its position in shares of Immersion by 5.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,443 shares of the software maker’s stock worth $284,000 after acquiring an additional 1,604 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Immersion by 8.5% in the 4th quarter. ProShare Advisors LLC now owns 26,318 shares of the software maker’s stock worth $230,000 after acquiring an additional 2,064 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Immersion by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 86,910 shares of the software maker’s stock worth $775,000 after acquiring an additional 2,416 shares in the last quarter. Legal & General Group Plc raised its position in shares of Immersion by 44.2% in the 4th quarter. Legal & General Group Plc now owns 7,910 shares of the software maker’s stock worth $69,000 after acquiring an additional 2,425 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Immersion by 5.8% in the 3rd quarter. Franklin Resources Inc. now owns 52,804 shares of the software maker’s stock worth $447,000 after acquiring an additional 2,879 shares in the last quarter. 60.57% of the stock is owned by institutional investors.

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.