ExodusPoint Capital Management LP Decreases Stock Holdings in Immersion Co. (NASDAQ:IMMR)

ExodusPoint Capital Management LP lowered its stake in Immersion Co. (NASDAQ:IMMR - Free Report) by 38.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 74,651 shares of the software maker's stock after selling 46,694 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.23% of Immersion worth $652,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its position in shares of Immersion by 29,900.0% in the fourth quarter. Farther Finance Advisors LLC now owns 3,000 shares of the software maker's stock valued at $26,000 after acquiring an additional 2,990 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Immersion during the 4th quarter valued at $51,000. AlphaQuest LLC bought a new position in shares of Immersion in the fourth quarter worth $61,000. Proficio Capital Partners LLC purchased a new stake in shares of Immersion in the fourth quarter worth $98,000. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in Immersion by 68.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 12,042 shares of the software maker's stock valued at $106,000 after buying an additional 4,897 shares during the period. Hedge funds and other institutional investors own 60.57% of the company's stock.

Immersion Price Performance

Shares of IMMR traded down $0.20 during midday trading on Thursday, reaching $7.10. The stock had a trading volume of 52,201 shares, compared to its average volume of 696,884. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $229.85 million, a price-to-earnings ratio of 2.54 and a beta of 1.50. The company's 50-day moving average is $7.75 and its 200 day moving average is $8.36. Immersion Co. has a 12-month low of $6.47 and a 12-month high of $13.94.

Immersion (NASDAQ:IMMR - Get Free Report) last issued 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 business had revenue of $474.76 million during the quarter, compared to analyst estimates of $9.45 million. Immersion had a return on equity of 28.08% and a net margin of 11.79%. On average, equities analysts predict that Immersion Co. will post 1.57 EPS for the current fiscal year.

Immersion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, April 14th will be issued a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Monday, April 14th. Immersion's dividend payout ratio is currently 6.47%.

Insider Buying and Selling

In related news, CEO Eric Singer acquired 42,638 shares of the firm's stock in a transaction dated Thursday, March 20th. The shares were purchased at an average price of $7.51 per share, for a total transaction of $320,211.38. Following the completion of the acquisition, the chief executive officer now owns 2,161,866 shares in the company, valued at approximately $16,235,613.66. This represents a 2.01 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Toro 18 Holdings Llc bought 59,146 shares of the stock in a transaction dated Wednesday, March 12th. The stock was bought at an average cost of $8.49 per share, with a total value of $502,149.54. Following the purchase, the director now owns 11,065,848 shares in the company, valued at $93,949,049.52. The trade was a 0.54 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 128,934 shares of company stock worth $1,027,343 in the last 90 days. 5.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on IMMR shares. Craig Hallum decreased their target price on Immersion from $14.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday, March 13th. BWS Financial reiterated a "buy" rating and set a $13.50 target price on shares of Immersion in a research report on Thursday, March 13th.

Immersion 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.