Insider Buying: Immersion Co. (NASDAQ:IMMR) Director Purchases 59,146 Shares of Stock

Immersion Co. (NASDAQ:IMMR) Director Toro 18 Holdings Llc bought 59,146 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $8.49 per share, for a total transaction of $502,149.54. Following the purchase, the director now owns 11,065,848 shares of the company’s stock, valued at $93,949,049.52. This trade represents a 0.54 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Immersion Price Performance

Shares of NASDAQ:IMMR traded up $0.16 during trading on Friday, reaching $7.60. The stock had a trading volume of 499,650 shares, compared to its average volume of 521,132. The stock has a market capitalization of $245.30 million, a PE ratio of 2.71 and a beta of 1.55. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.65 and a quick ratio of 0.94. Immersion Co. has a 52 week low of $7.06 and a 52 week high of $13.94. The business’s 50-day moving average price is $8.34 and its 200 day moving average price is $8.62.

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

Immersion Announces Dividend

The business 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 $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Monday, April 14th. Immersion’s dividend payout ratio is presently 4.64%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IMMR. Craig Hallum dropped their target price on Immersion from $14.00 to $11.00 and set a “buy” rating for the company in a report on Thursday. BWS Financial restated a “buy” rating and issued a $13.50 target price on shares of Immersion in a research note on Thursday.

Institutional Trading of Immersion

Several hedge funds have recently modified their holdings of IMMR. Millennium Management LLC lifted its holdings in Immersion by 128.3% during the 4th quarter. Millennium Management LLC now owns 794,767 shares of the software maker’s stock worth $6,938,000 after buying an additional 446,623 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of Immersion during the third quarter valued at $3,113,000. 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. Raymond James Financial Inc. acquired a new stake in Immersion in the fourth quarter worth about $1,644,000. Finally, Sanctuary Advisors LLC bought a new stake in Immersion during the 3rd quarter worth about $740,000. 60.57% of the stock is owned by institutional investors.

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.