Short Interest in Immersion Co. (NASDAQ:IMMR) Decreases By 7.1%

Immersion Co. (NASDAQ:IMMR) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 3,390,000 shares, a decrease of 7.1% from the October 15th total of 3,650,000 shares. Based on an average daily trading volume, of 838,200 shares, the short-interest ratio is presently 4.0 days. Approximately 11.9% of the shares of the company are sold short.

Insider Activity

In other Immersion news, CEO Eric Singer bought 50,000 shares of Immersion stock in a transaction dated Tuesday, August 27th. The stock was acquired at an average cost of $8.77 per share, with a total value of $438,500.00. Following the completion of the acquisition, the chief executive officer now owns 1,912,867 shares of the company’s stock, valued at approximately $16,775,843.59. This represents a 2.68 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William C. Martin bought 15,000 shares of Immersion stock in a transaction dated Tuesday, August 27th. The stock was acquired at an average cost of $8.81 per share, with a total value of $132,150.00. Following the completion of the acquisition, the insider now directly owns 1,364,265 shares of the company’s stock, valued at approximately $12,019,174.65. The trade was a 1.11 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 66,155 shares of company stock valued at $580,675. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Immersion

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Immersion by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 1,892,282 shares of the software maker’s stock worth $14,154,000 after purchasing an additional 16,287 shares during the period. Geode Capital Management LLC grew its stake in shares of Immersion by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 738,295 shares of the software maker’s stock worth $6,587,000 after purchasing an additional 20,982 shares during the period. State Street Corp grew its stake in shares of Immersion by 1.0% during the 3rd quarter. State Street Corp now owns 681,414 shares of the software maker’s stock worth $6,078,000 after purchasing an additional 6,990 shares during the period. American Century Companies Inc. grew its stake in Immersion by 5.6% in the 2nd quarter. American Century Companies Inc. now owns 588,995 shares of the software maker’s stock valued at $5,542,000 after acquiring an additional 31,110 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in Immersion by 43.3% in the 2nd quarter. Renaissance Technologies LLC now owns 498,213 shares of the software maker’s stock valued at $4,688,000 after acquiring an additional 150,513 shares during the last quarter. 60.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on IMMR. StockNews.com raised shares of Immersion from a “hold” rating to a “buy” rating in a report on Thursday, August 29th. BWS Financial lifted their price objective on Immersion from $11.00 to $13.50 and gave the company a “buy” rating in a report on Monday, August 26th.

Immersion Trading Up 0.5 %

NASDAQ:IMMR opened at $8.51 on Tuesday. The stock has a market capitalization of $274.70 million, a price-to-earnings ratio of 4.15 and a beta of 1.48. Immersion has a 1 year low of $6.33 and a 1 year high of $13.94. The stock has a fifty day moving average price of $8.63 and a two-hundred day moving average price of $9.59. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.72 and a current ratio of 1.55.

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

Immersion Announces Dividend

The business also recently declared a None dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be paid a dividend of $0.245 per share. The ex-dividend date of this dividend is Friday, January 10th. Immersion’s dividend payout ratio (DPR) is presently 8.78%.

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.