Raymond James Financial Inc. Invests $1.64 Million in Immersion Co. (NASDAQ:IMMR)

Raymond James Financial Inc. purchased a new position in Immersion Co. (NASDAQ:IMMR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 188,344 shares of the software maker's stock, valued at approximately $1,644,000. Raymond James Financial Inc. owned about 0.58% of Immersion at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Immersion by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 86,910 shares of the software maker's stock worth $775,000 after buying an additional 2,416 shares in the last quarter. D.A. Davidson & CO. purchased a new position in Immersion in the 3rd quarter worth approximately $235,000. Quantbot Technologies LP acquired a new position in shares of Immersion during the 3rd quarter worth approximately $78,000. FMR LLC grew its position in shares of Immersion by 518.2% in the third quarter. FMR LLC now owns 19,481 shares of the software maker's stock valued at $174,000 after purchasing an additional 16,330 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new stake in shares of Immersion in the third quarter valued at approximately $224,000. Hedge funds and other institutional investors own 60.57% of the company's stock.

Immersion Trading Down 4.5 %

Immersion stock traded down $0.32 during mid-day trading on Friday, hitting $6.80. The company's stock had a trading volume of 646,316 shares, compared to its average volume of 697,777. The stock's fifty day moving average is $8.02 and its two-hundred day moving average is $8.47. 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 firm has a market capitalization of $220.29 million, a PE ratio of 2.43 and a beta of 1.50. Immersion Co. has a 1 year low of $6.63 and a 1 year high of $13.94.

Immersion (NASDAQ:IMMR - Get Free Report) last announced its quarterly earnings results on Wednesday, March 12th. The software maker reported $0.47 EPS for the quarter, beating the consensus estimate of $0.14 by $0.33. The business had revenue of $474.76 million for 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, analysts anticipate that Immersion Co. will post 1.57 EPS for the current year.

Immersion Announces Dividend

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 is Monday, April 14th. This represents a $0.18 annualized dividend and a dividend yield of 2.65%. Immersion's dividend payout ratio is currently 6.47%.

Insider Buying and Selling

In other news, insider William C. Martin purchased 27,150 shares of the stock in a transaction dated Thursday, March 20th. The stock was acquired at an average cost of $7.55 per share, for a total transaction of $204,982.50. Following the completion of the transaction, the insider now directly owns 1,450,693 shares in the company, valued at approximately $10,952,732.15. This represents a 1.91 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Toro 18 Holdings Llc acquired 59,146 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $8.49 per share, for a total transaction of $502,149.54. Following the acquisition, the director now directly owns 11,065,848 shares in the company, valued at approximately $93,949,049.52. This trade represents a 0.54 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 128,934 shares of company stock valued at $1,027,343. Company insiders own 5.50% of the company's stock.

Wall Street Analyst Weigh In

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