Immersion Co. (NASDAQ:IMMR) CEO Purchases $320,211.38 in Stock

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

Immersion Stock Performance

IMMR stock traded down $0.10 during trading on Friday, hitting $7.46. 565,067 shares of the company’s stock traded hands, compared to its average volume of 690,254. The stock has a market capitalization of $241.67 million, a price-to-earnings ratio of 2.66 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 stock has a fifty day moving average price of $8.21 and a two-hundred day moving average price of $8.56. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.37.

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

Immersion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 14th will be given a dividend of $0.045 per share. The ex-dividend date of this dividend is Monday, April 14th. This represents a $0.18 dividend on an annualized basis and a yield of 2.41%. Immersion’s dividend payout ratio (DPR) is presently 6.47%.

Institutional Investors Weigh In On Immersion

Hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC increased its stake in shares of Immersion by 29,900.0% during the fourth quarter. Farther Finance Advisors LLC now owns 3,000 shares of the software maker’s stock valued at $26,000 after acquiring an additional 2,990 shares during the period. SBI Securities Co. Ltd. bought a new position in Immersion during the 4th quarter valued at $51,000. Quarry LP acquired a new position in shares of Immersion during the 4th quarter valued at $54,000. AlphaQuest LLC bought a new stake in shares of Immersion in the 4th quarter worth $61,000. Finally, Legal & General Group Plc lifted its holdings in shares of Immersion by 44.2% in the fourth quarter. Legal & General Group Plc now owns 7,910 shares of the software maker’s stock valued at $69,000 after buying an additional 2,425 shares during the period. 60.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Craig Hallum lowered their price target on Immersion from $14.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, March 13th. BWS Financial reaffirmed a “buy” rating and issued a $13.50 target price on shares of Immersion in a research report on Thursday, March 13th.

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.