Bank of New York Mellon Corp Acquires 51,655 Shares of Immersion Co. (NASDAQ:IMMR)

Bank of New York Mellon Corp increased its stake in shares of Immersion Co. (NASDAQ:IMMR - Free Report) by 16.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 358,240 shares of the software maker's stock after purchasing an additional 51,655 shares during the quarter. Bank of New York Mellon Corp owned about 1.11% of Immersion worth $3,127,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Quartz Partners LLC grew its stake in shares of Immersion by 4.8% during the fourth quarter. Quartz Partners LLC now owns 77,546 shares of the software maker's stock valued at $677,000 after purchasing an additional 3,570 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Immersion by 11.3% in the fourth quarter. Principal Financial Group Inc. now owns 55,227 shares of the software maker's stock valued at $482,000 after buying an additional 5,591 shares during the period. Kanen Wealth Management LLC lifted 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 buying an additional 275,000 shares during the period. Hennessy Advisors Inc. acquired a new position in Immersion in the fourth quarter valued at approximately $128,000. Finally, Silverleafe Capital Partners LLC acquired a new position in Immersion in the fourth quarter valued at approximately $211,000. 60.57% of the stock is owned by institutional investors.

Immersion Trading Down 1.3 %

IMMR traded down $0.10 during mid-day trading on Friday, hitting $7.46. The stock had a trading volume of 565,067 shares, compared to its average volume of 690,997. The stock's fifty day simple moving average is $8.21 and its 200-day simple moving average is $8.56. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.65 and a quick ratio of 0.94. The firm has a market capitalization of $241.67 million, a price-to-earnings ratio of 2.66 and a beta of 1.55. Immersion Co. has a 1-year low of $7.06 and a 1-year high of $13.94.

Remove Ads

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

Immersion Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO Eric Singer acquired 42,638 shares of the stock in a transaction dated Thursday, March 20th. The stock was bought at an average price of $7.51 per share, with a total value of $320,211.38. Following the completion of the transaction, the chief executive officer now directly owns 2,161,866 shares of the company's stock, valued at approximately $16,235,613.66. The trade was a 2.01 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Toro 18 Holdings Llc acquired 59,146 shares of the stock in a transaction dated Wednesday, March 12th. The shares were bought at an average cost of $8.49 per share, with a total value of $502,149.54. Following the transaction, the director now directly owns 11,065,848 shares of the company's stock, valued at $93,949,049.52. This represents a 0.54 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 5.50% of the company's stock.

Wall Street Analyst Weigh In

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

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.