Immersion Corporation (IMMR) to Distribute Quarterly Dividend of $0.07 on October 30th

Immersion Corporation (NASDAQ:IMMR) declared a quarterly dividend on Monday, September 14th. Stockholders of record on Friday, October 16th will be given a dividend of $0.0750 per share by the software maker on Friday, October 30th. This represents a $0.30 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, October 16th.

Immersion Stock Down 0.5%

Shares of NASDAQ IMMR opened at $7.31 on Wednesday. The company has a 50 day simple moving average of $7.44 and a 200 day simple moving average of $6.79. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.14 and a quick ratio of 1.16. Immersion has a 1 year low of $5.25 and a 1 year high of $8.05. The firm has a market cap of $242.77 million, a PE ratio of 21.50 and a beta of 1.01.

Immersion (NASDAQ:IMMR) last posted its earnings results on Monday, September 14th. The software maker reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.11. Immersion had a net margin of 0.60% and a return on equity of 1.83%. The firm had revenue of $294.40 million for the quarter, compared to analyst estimates of $3.43 million. On average, research analysts forecast that Immersion will post 0.26 EPS for the current year.

Insider Transactions at Immersion

In other news, major shareholder Toro 18 Holdings Llc sold 200,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $5.22, for a total transaction of $1,044,000.00. Following the completion of the transaction, the insider directly owned 1,344,647 shares in the company, valued at $7,019,057.34. This trade represents a 12.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric Singer acquired 41,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 7th. The stock was bought at an average cost of $7.14 per share, for a total transaction of $292,740.00. Following the completion of the purchase, the chief executive officer owned 2,230,664 shares of the company’s stock, valued at $15,926,940.96. This trade represents a 1.87% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 442,815 shares of company stock valued at $2,201,304 over the last 90 days. 10.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Immersion in the 2nd quarter worth approximately $16,527,000. Kanen Wealth Management LLC increased its position in shares of Immersion by 51.0% during the first quarter. Kanen Wealth Management LLC now owns 709,000 shares of the software maker’s stock worth $3,871,000 after buying an additional 239,318 shares during the period. Squarepoint Ops LLC increased its position in shares of Immersion by 34.4% during the second quarter. Squarepoint Ops LLC now owns 549,689 shares of the software maker’s stock worth $3,721,000 after buying an additional 140,741 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Immersion during the second quarter worth $2,128,000. Finally, Bank of America Corp DE bought a new position in Immersion during the second quarter worth $763,000. Institutional investors own 60.57% of the company’s stock.

Immersion Company Profile

Immersion Corporation is a technology company that develops and licenses haptic technologies, which enable electronic devices to provide tactile feedback such as vibrations, textures and other touch sensations. Its technologies are designed to make digital interactions more intuitive and immersive.

The company’s haptic solutions and intellectual property are used across a range of markets, including smartphones and other consumer electronics, gaming systems and controllers, automotive interfaces, medical equipment and industrial devices.