Eric Singer Purchases 42,638 Shares of Immersion Co. (NASDAQ:IMMR) Stock

Immersion Co. (NASDAQ:IMMR - Get Free Report) CEO Eric Singer purchased 42,638 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The stock was bought at an average cost of $7.51 per share, for a total transaction of $320,211.38. Following the completion of the purchase, the chief executive officer now directly owns 2,161,866 shares in the company, valued at $16,235,613.66. This represents a 2.01 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Immersion Trading Up 2.0 %

NASDAQ:IMMR traded up $0.16 on Tuesday, reaching $7.98. The company's stock had a trading volume of 502,420 shares, compared to its average volume of 692,562. Immersion Co. has a 12-month low of $7.06 and a 12-month high of $13.94. The stock has a 50 day moving average price of $8.18 and a 200 day moving average price of $8.55. The firm has a market cap of $258.52 million, a price-to-earnings ratio of 2.85 and a beta of 1.55. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.37.

Immersion (NASDAQ:IMMR - Get Free Report) last issued its quarterly earnings data on Wednesday, March 12th. The software maker reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.33. The firm 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%. On average, equities analysts anticipate that Immersion Co. will post 1.57 EPS for the current fiscal year.

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Immersion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 14th will be issued a $0.045 dividend. The ex-dividend date of this dividend is Monday, April 14th. This represents a $0.18 annualized dividend and a dividend yield of 2.26%. Immersion's dividend payout ratio is currently 6.47%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Craig Hallum lowered their price target 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 reaffirmed a "buy" rating and set a $13.50 target price on shares of Immersion in a research note on Thursday, March 13th.

Hedge Funds Weigh In On Immersion

A number of hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its stake in Immersion by 8.3% during the third quarter. Victory Capital Management Inc. now owns 405,480 shares of the software maker's stock worth $3,617,000 after purchasing an additional 31,063 shares in the last quarter. Banque Cantonale Vaudoise raised its holdings in shares of Immersion by 92.1% in the 3rd quarter. Banque Cantonale Vaudoise now owns 22,042 shares of the software maker's stock valued at $197,000 after buying an additional 10,569 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in shares of Immersion in the 3rd quarter valued at $3,113,000. Charles Schwab Investment Management Inc. lifted its stake in Immersion by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 86,910 shares of the software maker's stock worth $775,000 after acquiring an additional 2,416 shares in the last quarter. Finally, D.A. Davidson & CO. purchased a new position in Immersion during the 3rd quarter valued at about $235,000. Hedge funds and other institutional investors own 60.57% of the company's stock.

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.