Renaissance Technologies LLC Buys 150,513 Shares of Immersion Co. (NASDAQ:IMMR)

Renaissance Technologies LLC increased its holdings in shares of Immersion Co. (NASDAQ:IMMR - Free Report) by 43.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 498,213 shares of the software maker's stock after purchasing an additional 150,513 shares during the period. Renaissance Technologies LLC owned 1.56% of Immersion worth $4,688,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in Immersion by 4.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,120 shares of the software maker's stock worth $218,000 after purchasing an additional 1,140 shares during the period. Rhumbline Advisers grew its holdings in Immersion by 2.7% during the second quarter. Rhumbline Advisers now owns 50,670 shares of the software maker's stock worth $477,000 after purchasing an additional 1,322 shares during the period. SummerHaven Investment Management LLC grew its holdings in Immersion by 1.5% during the second quarter. SummerHaven Investment Management LLC now owns 104,805 shares of the software maker's stock worth $986,000 after purchasing an additional 1,512 shares during the period. Campbell & CO Investment Adviser LLC grew its holdings in Immersion by 1.7% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 104,834 shares of the software maker's stock worth $740,000 after purchasing an additional 1,757 shares during the period. Finally, Gallacher Capital Management LLC grew its holdings in Immersion by 4.1% during the first quarter. Gallacher Capital Management LLC now owns 61,941 shares of the software maker's stock worth $463,000 after purchasing an additional 2,460 shares during the period. Institutional investors own 60.57% of the company's stock.

Analyst Upgrades and Downgrades

IMMR has been the subject of several research reports. StockNews.com upgraded shares of Immersion from a "hold" rating to a "buy" rating in a research report on Thursday, August 29th. BWS Financial raised their price objective on shares of Immersion from $11.00 to $13.50 and gave the stock a "buy" rating in a research report on Monday, August 26th.

Immersion Stock Performance

IMMR stock traded up $0.27 during mid-day trading on Friday, hitting $8.95. 606,474 shares of the company were exchanged, compared to its average volume of 702,140. The business has a 50 day simple moving average of $10.04 and a 200-day simple moving average of $9.29. The company has a current ratio of 1.55, a quick ratio of 0.72 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $285.10 million, a PE ratio of 6.53 and a beta of 1.48. Immersion Co. has a 1-year low of $5.94 and a 1-year high of $13.94.

Immersion (NASDAQ:IMMR - Get Free Report) last released its quarterly earnings results on Monday, August 19th. The software maker reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.55. Immersion had a net margin of 40.62% and a return on equity of 27.05%. The company had revenue of $99.42 million during the quarter, compared to the consensus estimate of $7.29 million. On average, equities analysts forecast that Immersion Co. will post 1.96 earnings per share for the current year.

Immersion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, October 4th will be given a $0.045 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.01%. Immersion's payout ratio is 13.14%.

Insider Activity

In other Immersion news, insider William C. Martin purchased 15,000 shares of the company's stock in a transaction dated Tuesday, August 27th. The stock was bought at an average cost of $8.81 per share, for a total transaction of $132,150.00. Following the completion of the transaction, the insider now owns 1,364,265 shares in the company, valued at $12,019,174.65. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Eric Singer acquired 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 27th. The shares were acquired at an average cost of $8.77 per share, with a total value of $438,500.00. Following the completion of the purchase, the chief executive officer now directly owns 1,912,867 shares of the company's stock, valued at approximately $16,775,843.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William C. Martin acquired 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average cost of $8.81 per share, for a total transaction of $132,150.00. Following the completion of the purchase, the insider now directly owns 1,364,265 shares of the company's stock, valued at $12,019,174.65. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 66,155 shares of company stock worth $580,675. Corporate insiders own 5.50% of the company's stock.

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.