MorganRosel Wealth Management LLC Buys Shares of 119,220 Immersion Co. (NASDAQ:IMMR)

MorganRosel Wealth Management LLC purchased a new position in Immersion Co. (NASDAQ:IMMR - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 119,220 shares of the software maker's stock, valued at approximately $1,063,000. MorganRosel Wealth Management LLC owned 0.37% of Immersion at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of IMMR. Principal Financial Group Inc. purchased a new position in Immersion during the first quarter valued at approximately $382,000. BNP Paribas Financial Markets increased its stake in Immersion by 41.4% in the 1st quarter. BNP Paribas Financial Markets now owns 71,119 shares of the software maker's stock worth $532,000 after buying an additional 20,811 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Immersion in the first quarter valued at about $1,285,000. Gallacher Capital Management LLC boosted its stake in shares of Immersion by 4.1% in the first quarter. Gallacher Capital Management LLC now owns 61,941 shares of the software maker's stock worth $463,000 after acquiring an additional 2,460 shares during the period. Finally, Russell Investments Group Ltd. grew its position in shares of Immersion by 2.1% during the first quarter. Russell Investments Group Ltd. now owns 240,023 shares of the software maker's stock worth $1,795,000 after purchasing an additional 4,978 shares in the last quarter. Hedge funds and other institutional investors own 60.57% of the company's stock.

Insiders Place Their Bets

In related news, insider William C. Martin bought 15,000 shares of the company's stock in a transaction dated Tuesday, August 27th. The stock was purchased at an average price of $8.81 per share, for a total transaction of $132,150.00. Following the acquisition, the insider now owns 1,364,265 shares in the company, valued at $12,019,174.65. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Eric Singer acquired 50,000 shares of Immersion stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average cost of $8.77 per share, with a total value of $438,500.00. Following the transaction, the chief executive officer now directly owns 1,912,867 shares of the company's stock, valued at $16,775,843.59. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider William C. Martin bought 15,000 shares of the company's stock in a transaction on Tuesday, August 27th. The shares were acquired at an average price of $8.81 per share, with a total value of $132,150.00. Following the transaction, the insider now directly owns 1,364,265 shares of the company's stock, valued at approximately $12,019,174.65. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 66,155 shares of company stock valued at $580,675 over the last ninety days. 5.50% of the stock is owned by insiders.

Immersion Price Performance

Immersion stock traded up $0.18 during midday trading on Friday, reaching $8.50. 366,703 shares of the stock traded hands, compared to its average volume of 693,478. The stock has a market cap of $270.77 million, a P/E ratio of 6.20 and a beta of 1.48. The stock's fifty day moving average is $9.22 and its 200-day moving average is $9.35. The company has a quick ratio of 0.72, a current ratio of 1.55 and a debt-to-equity ratio of 0.44. Immersion Co. has a 12 month low of $5.94 and a 12 month high of $13.94.

Immersion (NASDAQ:IMMR - Get Free Report) last announced its quarterly earnings results on Monday, August 19th. The software maker reported $0.89 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $7.29 million. As a group, equities research analysts anticipate that Immersion Co. will post 1.96 EPS for the current year.

Immersion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, October 4th will be given a $0.045 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.18 annualized dividend and a yield of 2.12%. Immersion's dividend payout ratio is currently 13.14%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on IMMR shares. BWS Financial boosted their price target on Immersion from $11.00 to $13.50 and gave the stock a "buy" rating in a report on Monday, August 26th. StockNews.com upgraded shares of Immersion from a "hold" rating to a "buy" rating in a research report on Thursday, August 29th.

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.