Balyasny Asset Management L.P. Invests $394,000 in Immersion Co. (NASDAQ:IMMR)

Balyasny Asset Management L.P. bought a new position in Immersion Co. (NASDAQ:IMMR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 45,149 shares of the software maker's stock, valued at approximately $394,000. Balyasny Asset Management L.P. owned approximately 0.14% of Immersion at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of IMMR. Bayesian Capital Management LP purchased a new position in shares of Immersion in the 4th quarter worth about $129,000. Northern Trust Corp raised its holdings in Immersion by 2.1% in the fourth quarter. Northern Trust Corp now owns 296,590 shares of the software maker's stock worth $2,589,000 after buying an additional 6,239 shares during the last quarter. Tudor Investment Corp ET AL bought a new position in shares of Immersion in the fourth quarter worth approximately $700,000. Quarry LP bought a new position in shares of Immersion in the fourth quarter worth approximately $54,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Immersion by 5.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,443 shares of the software maker's stock valued at $284,000 after buying an additional 1,604 shares during the last quarter. 60.57% of the stock is owned by hedge funds and other institutional investors.

Immersion Stock Performance

Shares of IMMR stock traded down $0.03 during trading hours on Thursday, reaching $7.39. The company had a trading volume of 12,293 shares, compared to its average volume of 678,803. 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 business has a fifty day moving average price of $7.34 and a 200-day moving average price of $8.15. Immersion Co. has a one year low of $6.47 and a one year high of $13.94. The firm has a market cap of $239.24 million, a PE ratio of 2.64 and a beta of 1.40.

Immersion (NASDAQ:IMMR - Get Free Report) last posted its earnings results on Wednesday, March 12th. The software maker reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.33. The business had revenue of $474.76 million during the quarter, compared to the consensus estimate of $9.45 million. Immersion had a net margin of 11.79% and a return on equity of 28.08%. Sell-side analysts predict that Immersion Co. will post 1.57 earnings per share for the current fiscal year.

Immersion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, April 14th were issued a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend was Monday, April 14th. Immersion's dividend payout ratio is 6.47%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IMMR. BWS Financial restated a "buy" rating and issued a $13.50 price objective on shares of Immersion in a report on Thursday, March 13th. Craig Hallum decreased 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.

Insiders Place Their Bets

In other Immersion news, CEO Eric Singer acquired 42,638 shares of the stock in a transaction dated Thursday, March 20th. The shares were purchased at an average price of $7.51 per share, for a total transaction of $320,211.38. Following the purchase, the chief executive officer now directly owns 2,161,866 shares of the company's stock, valued at approximately $16,235,613.66. This trade represents a 2.01% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Toro 18 Holdings Llc bought 59,146 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $8.49 per share, with a total value of $502,149.54. Following the completion of the transaction, the director now directly owns 11,065,848 shares of the company's stock, valued at $93,949,049.52. This trade represents a 0.54% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 128,934 shares of company stock valued at $1,027,343. Insiders own 5.50% of the company's stock.

About Immersion

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.