William C. Martin Acquires 27,150 Shares of Immersion Co. (NASDAQ:IMMR) Stock

Immersion Co. (NASDAQ:IMMR) insider William C. Martin purchased 27,150 shares of the stock in a transaction dated Thursday, March 20th. The stock was acquired at an average price of $7.55 per share, for a total transaction of $204,982.50. Following the completion of the transaction, the insider now directly owns 1,450,693 shares of the company’s stock, valued at approximately $10,952,732.15. The trade was a 1.91 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Immersion Stock Up 4.8 %

IMMR stock opened at $7.82 on Tuesday. The company has a 50 day moving average price of $8.19 and a two-hundred day moving average price of $8.55. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.94 and a current ratio of 1.65. The stock 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 one year low of $7.06 and a one year high of $13.94.

Immersion (NASDAQ:IMMR) last announced its quarterly earnings data on Wednesday, March 12th. The software maker reported $0.47 EPS 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 the consensus estimate of $9.45 million. Immersion had a return on equity of 28.08% and a net margin of 11.79%. As a group, sell-side analysts expect that Immersion Co. will post 1.57 EPS for the current year.

Immersion Dividend Announcement

The business 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 dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Monday, April 14th. Immersion’s dividend payout ratio is currently 6.47%.

Wall Street Analyst Weigh In

IMMR has been the subject of several recent research reports. Craig Hallum dropped their price target 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 reiterated a “buy” rating and set a $13.50 price objective on shares of Immersion in a research report on Thursday, March 13th.

Institutional Investors Weigh In On Immersion

Hedge funds have recently modified their holdings of the stock. Millennium Management LLC increased its position 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 last quarter. Geode Capital Management LLC increased its holdings in shares of Immersion by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 755,713 shares of the software maker’s stock worth $6,599,000 after buying an additional 17,418 shares during the last quarter. State Street Corp raised its position in shares of Immersion by 1.0% in the 3rd quarter. State Street Corp now owns 681,414 shares of the software maker’s stock worth $6,078,000 after buying an additional 6,990 shares during the period. Kanen Wealth Management LLC boosted its holdings in Immersion by 84.6% in the fourth quarter. Kanen Wealth Management LLC now owns 600,000 shares of the software maker’s stock valued at $5,238,000 after acquiring an additional 275,000 shares during the last quarter. Finally, Segall Bryant & Hamill LLC grew its position in Immersion by 41.7% during the fourth quarter. Segall Bryant & Hamill LLC now owns 494,574 shares of the software maker’s stock valued at $4,318,000 after acquiring an additional 145,546 shares during the period. 60.57% of the stock is owned by institutional investors and hedge funds.

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.