William C. Martin Acquires 27,150 Shares of Immersion Co. (NASDAQ:IMMR) Stock

Immersion Co. (NASDAQ:IMMR - Get Free Report) insider William C. Martin purchased 27,150 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were purchased at an average cost of $7.55 per share, with a total value of $204,982.50. Following the completion of the acquisition, the insider now directly owns 1,450,693 shares of the company's stock, valued at $10,952,732.15. This represents a 1.91 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Immersion Price Performance

Shares of NASDAQ:IMMR traded down $0.33 during trading on Friday, hitting $7.69. 266,612 shares of the stock were exchanged, compared to its average volume of 696,461. The company has a market cap of $249.25 million, a PE ratio of 2.75 and a beta of 1.55. 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 fifty day moving average price of $8.16 and a two-hundred day moving average price of $8.54. Immersion Co. has a 12-month low of $7.06 and a 12-month high of $13.94.

Immersion (NASDAQ:IMMR - Get Free Report) last announced its earnings results on Wednesday, March 12th. The software maker reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.33. The firm had revenue of $474.76 million for the quarter, compared to analysts' expectations of $9.45 million. Immersion had a return on equity of 28.08% and a net margin of 11.79%. On average, analysts forecast that Immersion Co. will post 1.57 EPS for the current year.

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Immersion Announces Dividend

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 given a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Monday, April 14th. Immersion's dividend payout ratio (DPR) is presently 6.47%.

Institutional Trading of Immersion

Large investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its position in shares of Immersion by 29,900.0% during the fourth quarter. Farther Finance Advisors LLC now owns 3,000 shares of the software maker's stock worth $26,000 after buying an additional 2,990 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Immersion during the fourth quarter valued at about $51,000. Quarry LP acquired a new stake in shares of Immersion in the 4th quarter worth approximately $54,000. AlphaQuest LLC acquired a new stake in shares of Immersion in the fourth quarter valued at $61,000. Finally, Legal & General Group Plc boosted its holdings in Immersion by 44.2% during the fourth quarter. Legal & General Group Plc now owns 7,910 shares of the software maker's stock worth $69,000 after buying an additional 2,425 shares in the last quarter. 60.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IMMR. Craig Hallum dropped their target price on Immersion from $14.00 to $11.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. BWS Financial reiterated a "buy" rating and issued a $13.50 price objective on shares of Immersion in a research report on Thursday, March 13th.

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.