Diametric Capital LP bought a new stake in Immersion Co. (NASDAQ:IMMR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 36,635 shares of the software maker's stock, valued at approximately $320,000. Diametric Capital LP owned approximately 0.11% of Immersion at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC increased its stake in Immersion by 276.0% in the 3rd quarter. Barclays PLC now owns 39,579 shares of the software maker's stock valued at $353,000 after purchasing an additional 29,054 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Immersion in the fourth quarter valued at $51,000. Franklin Resources Inc. increased its position in shares of Immersion by 5.8% in the third quarter. Franklin Resources Inc. now owns 52,804 shares of the software maker's stock valued at $447,000 after buying an additional 2,879 shares in the last quarter. State Street Corp raised 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 buying an additional 6,990 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Immersion by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 86,910 shares of the software maker's stock worth $775,000 after buying an additional 2,416 shares in the last quarter. 60.57% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the stock. BWS Financial restated a "buy" rating and set a $13.50 target price on shares of Immersion in a research report on Thursday, March 13th. Craig Hallum cut their price objective on Immersion from $14.00 to $11.00 and set a "buy" rating for the company in a research report on Thursday, March 13th.
Read Our Latest Research Report on Immersion
Immersion Price Performance
Immersion stock traded down $0.32 during midday trading on Friday, reaching $6.80. 646,316 shares of the company were exchanged, compared to its average volume of 697,777. The company has a market capitalization of $220.29 million, a price-to-earnings ratio of 2.43 and a beta of 1.50. 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 firm's 50-day simple moving average is $8.02 and its 200-day simple moving average is $8.47. Immersion Co. has a 1 year low of $6.63 and a 1 year high of $13.94.
Immersion (NASDAQ:IMMR - Get Free Report) last posted its quarterly earnings data on Wednesday, March 12th. The software maker reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.33. Immersion had a net margin of 11.79% and a return on equity of 28.08%. The business had revenue of $474.76 million during the quarter, compared to analyst estimates of $9.45 million. On average, analysts anticipate that Immersion Co. will post 1.57 EPS for the current year.
Immersion Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 14th will be given a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Monday, April 14th. Immersion's dividend payout ratio is currently 6.47%.
Insider Activity at Immersion
In related news, Director Toro 18 Holdings Llc purchased 59,146 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $8.49 per share, with a total value of $502,149.54. Following the completion of the transaction, the director now owns 11,065,848 shares of the company's stock, valued at approximately $93,949,049.52. This trade represents a 0.54 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric Singer purchased 42,638 shares of the business's stock in a transaction on Thursday, March 20th. The shares were bought at an average cost of $7.51 per share, for a total transaction of $320,211.38. Following the purchase, the chief executive officer now owns 2,161,866 shares of the company's stock, valued at $16,235,613.66. This trade represents a 2.01 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 128,934 shares of company stock worth $1,027,343. 5.50% of the stock is currently owned by insiders.
Immersion Company Profile
(
Free Report)
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.
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