Immersion Co. (NASDAQ:IMMR) Short Interest Update

Immersion Co. (NASDAQ:IMMR) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 3,390,000 shares, a decline of 7.1% from the October 15th total of 3,650,000 shares. Based on an average daily volume of 838,200 shares, the short-interest ratio is presently 4.0 days. Currently, 11.9% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on IMMR shares. StockNews.com upgraded Immersion from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. BWS Financial upped their target price on Immersion from $11.00 to $13.50 and gave the company a “buy” rating in a research report on Monday, August 26th.

Insider Buying and Selling at Immersion

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 shares were acquired at an average price of $8.81 per share, for a total transaction of $132,150.00. Following the completion of the purchase, the insider now owns 1,364,265 shares of the company’s stock, valued at approximately $12,019,174.65. The trade was a 1.11 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Eric Singer purchased 50,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were acquired at an average price of $8.77 per share, for a total transaction of $438,500.00. Following 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 trade was a 2.68 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 66,155 shares of company stock worth $580,675 over the last quarter. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of IMMR. BNP Paribas Financial Markets lifted its holdings in Immersion by 41.4% in the first quarter. BNP Paribas Financial Markets now owns 71,119 shares of the software maker’s stock valued at $532,000 after acquiring an additional 20,811 shares during the period. Russell Investments Group Ltd. lifted its holdings in Immersion by 2.1% in the first quarter. Russell Investments Group Ltd. now owns 240,023 shares of the software maker’s stock valued at $1,795,000 after acquiring an additional 4,978 shares during the period. Vanguard Group Inc. lifted its holdings in Immersion by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,892,282 shares of the software maker’s stock valued at $14,154,000 after acquiring an additional 16,287 shares during the period. EntryPoint Capital LLC acquired a new position in Immersion in the first quarter valued at approximately $158,000. Finally, Quadrature Capital Ltd acquired a new position in Immersion in the first quarter valued at approximately $250,000. 60.57% of the stock is owned by institutional investors and hedge funds.

Immersion Price Performance

Shares of NASDAQ IMMR opened at $8.57 on Wednesday. The business’s 50 day moving average price is $8.62 and its 200 day moving average price is $9.60. The firm has a market cap of $276.64 million, a P/E ratio of 4.18 and a beta of 1.48. Immersion has a 52 week low of $6.33 and a 52 week high of $13.94. 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 (NASDAQ:IMMR) last issued its earnings results on Monday, August 19th. The software maker reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.55. The firm had revenue of $99.42 million for the quarter, compared to analyst estimates of $7.29 million. Immersion had a return on equity of 27.05% and a net margin of 40.62%. On average, sell-side analysts expect that Immersion will post 1.96 earnings per share for the current year.

Immersion Dividend Announcement

The business also recently declared a None dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be issued a $0.245 dividend. The ex-dividend date is Friday, January 10th. Immersion’s payout ratio is presently 8.78%.

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.