Immersion Co. (NASDAQ:IMMR - Get Free Report) Director Toro 18 Holdings Llc bought 59,146 shares of Immersion stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average cost of $8.49 per share, for a total transaction of $502,149.54. Following the completion of the acquisition, the director now directly owns 11,065,848 shares of the company's stock, valued at approximately $93,949,049.52. The trade was a 0.54 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Immersion Stock Up 2.2 %
Shares of NASDAQ IMMR opened at $7.60 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.94 and a current ratio of 1.65. The firm has a market capitalization of $245.30 million, a price-to-earnings ratio of 2.71 and a beta of 1.55. The stock has a 50 day moving average price of $8.34 and a 200 day moving average price of $8.62. Immersion Co. has a 52-week low of $7.06 and a 52-week 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.33. The firm had revenue of $474.76 million during 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%. Sell-side analysts expect that Immersion Co. will post 1.57 earnings per share for the current year.
Immersion Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, April 14th will be issued a $0.045 dividend. The ex-dividend date of this dividend is Monday, April 14th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.37%. Immersion's payout ratio is 4.64%.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on IMMR shares. Craig Hallum reduced their price objective on Immersion from $14.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday. BWS Financial reissued a "buy" rating and set a $13.50 price objective on shares of Immersion in a research note on Thursday.
Read Our Latest Analysis on IMMR
Institutional Trading of Immersion
Large investors have recently modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in shares of Immersion by 29,900.0% in the fourth quarter. Farther Finance Advisors LLC now owns 3,000 shares of the software maker's stock valued at $26,000 after purchasing an additional 2,990 shares during the period. SBI Securities Co. Ltd. bought a new position in Immersion in the fourth quarter worth approximately $51,000. Quarry LP bought a new position in Immersion in the fourth quarter worth approximately $54,000. AlphaQuest LLC bought a new position in Immersion in the fourth quarter worth approximately $61,000. Finally, Legal & General Group Plc raised its stake in Immersion by 44.2% in 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 in the last quarter. Hedge funds and other institutional investors own 60.57% of the company's stock.
Immersion Company Profile
(
Get Free Report)
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.
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