Immersion (NASDAQ:IMMR) Stock: Insider Eric Singer Buys 41,000 Shares

Immersion Corporation (NASDAQ:IMMR) CEO Eric Singer bought 41,000 shares of Immersion stock in a transaction on Wednesday, October 7th. The shares were purchased at an average price of $7.14 per share, for a total transaction of $292,740.00. Following the acquisition, the chief executive officer directly owned 2,230,664 shares in the company, valued at approximately $15,926,940.96. This trade represents a 1.87% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Immersion Stock Down 1.7%

Shares of NASDAQ:IMMR traded down $0.12 during trading on Thursday, hitting $7.14. The stock had a trading volume of 291,386 shares, compared to its average volume of 494,661. The company has a market capitalization of $237.12 million, a PE ratio of 21.00 and a beta of 1.01. The company has a quick ratio of 1.16, a current ratio of 2.14 and a debt-to-equity ratio of 0.22. The firm’s fifty day moving average is $7.46 and its 200 day moving average is $6.75. Immersion Corporation has a 12 month low of $5.25 and a 12 month high of $8.05.

Immersion (NASDAQ:IMMR) last released its quarterly earnings results on Monday, September 14th. The software maker reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.11. The company had revenue of $294.40 million for the quarter, compared to analyst estimates of $3.43 million. Immersion had a return on equity of 1.83% and a net margin of 0.60%. Analysts anticipate that Immersion Corporation will post 0.26 EPS for the current fiscal year.

Immersion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be issued a dividend of $0.0750 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Friday, October 16th. Immersion’s payout ratio is 88.24%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Trust Advisors LP increased its holdings in shares of Immersion by 2.1% during the first quarter. First Trust Advisors LP now owns 87,899 shares of the software maker’s stock valued at $480,000 after acquiring an additional 1,819 shares in the last quarter. Caitlin John LLC purchased a new position in shares of Immersion in the 2nd quarter worth about $27,000. Strs Ohio bought a new position in Immersion in the 1st quarter worth about $27,000. Persistent Asset Partners Ltd bought a new position in Immersion in the 2nd quarter worth about $41,000. Finally, Optiver Holding B.V. grew its position in Immersion by 1,681.2% during the 1st quarter. Optiver Holding B.V. now owns 7,855 shares of the software maker’s stock valued at $43,000 after purchasing an additional 7,414 shares during the last quarter. Institutional investors own 60.57% of the company’s stock.

Analysts Set New Price Targets

IMMR has been the subject of several research reports. Wall Street Zen upgraded shares of Immersion from a “sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Weiss Ratings raised shares of Immersion from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, September 16th. Finally, BWS Financial restated a “buy” rating and issued a $13.50 price objective on shares of Immersion in a report on Tuesday, July 28th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.50.

About Immersion

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.