Greenwood Capital Associates LLC Lowers Position in Immersion Co. (NASDAQ:IMMR)

Greenwood Capital Associates LLC decreased its holdings in shares of Immersion Co. (NASDAQ:IMMR) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,976 shares of the software maker’s stock after selling 2,874 shares during the quarter. Greenwood Capital Associates LLC owned about 0.36% of Immersion worth $1,017,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Copeland Capital Management LLC purchased a new stake in Immersion during the third quarter valued at $59,000. MorganRosel Wealth Management LLC purchased a new stake in Immersion during the third quarter valued at $1,063,000. SG Americas Securities LLC purchased a new stake in Immersion during the third quarter valued at $162,000. Truist Financial Corp raised its stake in Immersion by 15.3% during the second quarter. Truist Financial Corp now owns 45,132 shares of the software maker’s stock valued at $425,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Quarry LP purchased a new stake in Immersion during the second quarter valued at $26,000. Hedge funds and other institutional investors own 60.57% of the company’s stock.

Immersion Trading Up 1.2 %

Shares of IMMR opened at $8.45 on Wednesday. Immersion Co. has a twelve month low of $5.94 and a twelve month high of $13.94. The company has a market cap of $271.92 million, a P/E ratio of 4.12 and a beta of 1.48. The company has a current ratio of 1.55, a quick ratio of 0.72 and a debt-to-equity ratio of 0.44. The company’s fifty day simple moving average is $8.69 and its 200-day simple moving average is $9.49.

Immersion (NASDAQ:IMMR) last posted its quarterly earnings results on Monday, August 19th. The software maker reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.55. The firm had revenue of $99.42 million for the quarter, compared to analysts’ expectations of $7.29 million. Immersion had a net margin of 40.62% and a return on equity of 27.05%. As a group, analysts expect that Immersion Co. will post 1.96 EPS for the current year.

Immersion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 4th were issued a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date was Friday, October 4th. Immersion’s payout ratio is presently 8.78%.

Insider Transactions at Immersion

In related news, CEO Eric Singer purchased 50,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were purchased at an average cost of $8.77 per share, for a total transaction of $438,500.00. Following the completion of the acquisition, the chief executive officer now owns 1,912,867 shares in the company, valued at approximately $16,775,843.59. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Immersion news, CEO Eric Singer bought 50,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were bought at an average cost of $8.77 per share, for a total transaction of $438,500.00. Following the acquisition, the chief executive officer now directly owns 1,912,867 shares in the company, valued at approximately $16,775,843.59. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider William C. Martin bought 15,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were acquired at an average price of $8.81 per share, for a total transaction of $132,150.00. Following the completion of the acquisition, the insider now owns 1,364,265 shares in the company, valued at $12,019,174.65. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 66,155 shares of company stock worth $580,675. Insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

IMMR has been the topic of a number of recent research reports. 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 shares of Immersion from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th.

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.