William C. Martin Buys 27,150 Shares of Immersion Co. (NASDAQ:IMMR) Stock

Immersion Co. (NASDAQ:IMMR) insider William C. Martin acquired 27,150 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was bought at an average price of $7.55 per share, for a total transaction of $204,982.50. Following the purchase, the insider now owns 1,450,693 shares in the company, valued at approximately $10,952,732.15. This trade represents a 1.91 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Immersion Trading Up 2.0 %

Shares of NASDAQ:IMMR opened at $7.98 on Wednesday. Immersion Co. has a 1 year low of $7.06 and a 1 year high of $13.94. The firm has a fifty day moving average price of $8.18 and a 200 day moving average price of $8.55. 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 stock has a market capitalization of $258.52 million, a PE ratio of 2.85 and a beta of 1.55.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings data on Wednesday, March 12th. The software maker reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.33. Immersion had a return on equity of 28.08% and a net margin of 11.79%. The business had revenue of $474.76 million for the quarter, compared to analyst estimates of $9.45 million. Analysts expect that Immersion Co. will post 1.57 EPS for the current fiscal year.

Immersion Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings in Immersion by 29,900.0% during the fourth quarter. Farther Finance Advisors LLC now owns 3,000 shares of the software maker’s stock valued at $26,000 after acquiring an additional 2,990 shares during the period. SBI Securities Co. Ltd. bought a new stake in Immersion during the 4th quarter valued at approximately $51,000. Quarry LP acquired a new stake in Immersion in the 4th quarter valued at approximately $54,000. AlphaQuest LLC bought a new position in Immersion in the 4th quarter worth approximately $61,000. Finally, Legal & General Group Plc lifted its holdings in shares of Immersion by 44.2% during the fourth quarter. Legal & General Group Plc now owns 7,910 shares of the software maker’s stock worth $69,000 after buying an additional 2,425 shares during the last quarter. 60.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on IMMR shares. BWS Financial reissued a “buy” rating and set a $13.50 price objective on shares of Immersion in a research report on Thursday, March 13th. Craig Hallum lowered their price target on Immersion from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, March 13th.

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.