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

Immersion Co. (NASDAQ:IMMR) CEO Eric Singer bought 42,638 shares of the firm’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 transaction, the chief executive officer now owns 2,161,866 shares of the company’s stock, valued at approximately $16,235,613.66. This represents a 2.01 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Immersion Stock Performance

Shares of Immersion stock opened at $7.46 on Friday. Immersion Co. has a one year low of $7.06 and a one year high of $13.94. The company has a market cap of $241.67 million, a price-to-earnings ratio of 2.66 and a beta of 1.55. 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 business’s 50 day moving average price is $8.21 and its 200 day moving average price is $8.56.

Immersion (NASDAQ:IMMR) last posted its 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. The company had revenue of $474.76 million during the quarter, compared to analysts’ expectations of $9.45 million. Immersion had a return on equity of 28.08% and a net margin of 11.79%. On average, research analysts predict that Immersion Co. will post 1.57 EPS for the current year.

Immersion Announces Dividend

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

Institutional Investors Weigh In On Immersion

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PharVision Advisers LLC acquired a new stake in Immersion during the fourth quarter worth $202,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of Immersion in the fourth quarter valued at $170,000. ProShare Advisors LLC grew its stake in shares of Immersion by 8.5% in the fourth quarter. ProShare Advisors LLC now owns 26,318 shares of the software maker’s stock valued at $230,000 after buying an additional 2,064 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in shares of Immersion by 11.0% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 494,167 shares of the software maker’s stock valued at $4,448,000 after buying an additional 48,843 shares in the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of Immersion in the fourth quarter valued at $186,000. Institutional investors and hedge funds own 60.57% of the company’s stock.

Wall Street Analyst Weigh In

IMMR has been the topic of several research reports. BWS Financial restated a “buy” rating and issued a $13.50 target price on shares of Immersion in a research report on Thursday, March 13th. Craig Hallum reduced their price objective on Immersion from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th.

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.