Insider Buying: Immersion Co. (NASDAQ:IMMR) Insider Buys 27,150 Shares of Stock

Immersion Co. (NASDAQ:IMMR) insider William C. Martin acquired 27,150 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was acquired at an average cost of $7.55 per share, for a total transaction of $204,982.50. Following the completion of the acquisition, the insider now owns 1,450,693 shares of the company’s stock, valued at $10,952,732.15. This trade represents a 1.91 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Immersion Trading Up 4.8 %

Shares of IMMR stock traded up $0.36 during trading on Monday, hitting $7.82. 769,551 shares of the stock traded hands, compared to its average volume of 517,110. The firm has a market capitalization of $253.34 million, a P/E ratio of 2.79 and a beta of 1.55. Immersion Co. has a 52-week low of $7.06 and a 52-week high of $13.94. 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 firm’s fifty day moving average price is $8.21 and its 200-day moving average price is $8.56.

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

Immersion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 14th will be paid a $0.045 dividend. The ex-dividend date is Monday, April 14th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.30%. Immersion’s payout ratio is presently 6.47%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Craig Hallum cut their price target on shares of Immersion from $14.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, March 13th. BWS Financial reissued a “buy” rating and set a $13.50 target price on shares of Immersion in a research note on Thursday, March 13th.

Institutional Investors Weigh In On Immersion

Several institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC increased its stake in Immersion by 128.3% during the fourth quarter. Millennium Management LLC now owns 794,767 shares of the software maker’s stock worth $6,938,000 after purchasing an additional 446,623 shares during the period. Geode Capital Management LLC raised its stake in shares of Immersion by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 755,713 shares of the software maker’s stock valued at $6,599,000 after acquiring an additional 17,418 shares in the last quarter. State Street Corp boosted its holdings in Immersion by 1.0% in the third quarter. State Street Corp now owns 681,414 shares of the software maker’s stock valued at $6,078,000 after purchasing an additional 6,990 shares during the period. Kanen Wealth Management LLC increased its holdings in Immersion by 84.6% during the 4th quarter. Kanen Wealth Management LLC now owns 600,000 shares of the software maker’s stock worth $5,238,000 after purchasing an additional 275,000 shares during the period. Finally, Segall Bryant & Hamill LLC raised its position in Immersion by 41.7% in the 4th quarter. Segall Bryant & Hamill LLC now owns 494,574 shares of the software maker’s stock valued at $4,318,000 after purchasing an additional 145,546 shares in the last quarter. Hedge funds and other institutional investors own 60.57% of the company’s stock.

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.