Short Interest in Immersion Co. (NASDAQ:IMMR) Decreases By 7.1%

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

Insider Activity at Immersion

In related news, CEO Eric Singer acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were acquired at an average price of $8.77 per share, with a total value of $438,500.00. Following the completion of the purchase, the chief executive officer now directly owns 1,912,867 shares in the company, valued at approximately $16,775,843.59. The trade was a 2.68 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William C. Martin acquired 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average cost of $8.81 per share, for a total transaction of $132,150.00. Following 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 disclosure for this purchase can be found here. In the last three months, insiders have acquired 66,155 shares of company stock valued at $580,675. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Immersion

A number of large investors have recently modified their holdings of IMMR. Acadian Asset Management LLC purchased a new position in shares of Immersion in the 2nd quarter worth about $3,375,000. Segall Bryant & Hamill LLC purchased a new position in shares of Immersion in the 3rd quarter worth about $3,113,000. ClariVest Asset Management LLC purchased a new position in shares of Immersion in the 2nd quarter worth about $1,571,000. Renaissance Technologies LLC raised its holdings in shares of Immersion by 43.3% in the 2nd quarter. Renaissance Technologies LLC now owns 498,213 shares of the software maker’s stock worth $4,688,000 after purchasing an additional 150,513 shares during the period. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Immersion by 151.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 209,675 shares of the software maker’s stock valued at $1,973,000 after buying an additional 126,247 shares during the period. 60.57% of the stock is currently owned by hedge funds and other institutional investors.

Immersion Stock Performance

NASDAQ IMMR opened at $8.51 on Tuesday. The business’s 50-day moving average price is $8.63 and its 200 day moving average price is $9.59. Immersion has a twelve month low of $6.33 and a twelve month high of $13.94. The company has a market capitalization of $274.70 million, a PE ratio of 4.15 and a beta of 1.48. The company has a current ratio of 1.55, a quick ratio of 0.72 and a debt-to-equity ratio of 0.44.

Immersion (NASDAQ:IMMR) last released its earnings results on Monday, August 19th. The software maker reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.55. The firm had revenue of $99.42 million for the quarter, compared to the consensus estimate of $7.29 million. Immersion had a return on equity of 27.05% and a net margin of 40.62%. On average, research analysts predict that Immersion will post 1.96 earnings per share for the current year.

Immersion Announces Dividend

The company also recently disclosed a None dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be issued a $0.245 dividend. The ex-dividend date of this dividend is Friday, January 10th. Immersion’s dividend payout ratio (DPR) is 8.78%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IMMR. StockNews.com upgraded Immersion from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. BWS Financial increased their target price on Immersion from $11.00 to $13.50 and gave the stock a “buy” rating in a research report on Monday, August 26th.

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.