Immersion Corporation $IMMR Shares Acquired by Squarepoint Ops LLC

Key Points

• Squarepoint Ops increased its Immersion stake by 34.4% in the second quarter, acquiring 140,741 additional shares and bringing its holdings to 549,689 shares, or 1.66% of the company. Institutional investors and hedge funds collectively own 60.57% of IMMR.
• Immersion reported quarterly earnings of $0.12 per share, exceeding the $0.05 consensus estimate, while revenue of $270 million topped the $230 million forecast. The company also pays a $0.075 quarterly dividend, yielding approximately 4.1%, though its payout ratio is elevated at 214.29%.
• Insider selling has continued, with insiders selling 442,815 shares worth $2.2 million over the past 90 days. IMMR shares opened at $7.40, compared with a 52-week range of $5.25 to $8.05, while analysts maintain a consensus “Hold” rating and a $13.50 price target.

Squarepoint Ops LLC increased its position in shares of Immersion Corporation (NASDAQ:IMMR - Free Report) by 34.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 549,689 shares of the software maker's stock after purchasing an additional 140,741 shares during the period. Squarepoint Ops LLC owned 1.66% of Immersion worth $3,721,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its stake in Immersion by 2.1% during the 1st quarter. First Trust Advisors LP now owns 87,899 shares of the software maker's stock valued at $480,000 after purchasing an additional 1,819 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Immersion by 85.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,429 shares of the software maker's stock worth $33,000 after buying an additional 2,041 shares in the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of Immersion by 5.9% in the third quarter. Bridgeway Capital Management LLC now owns 44,800 shares of the software maker's stock valued at $329,000 after buying an additional 2,500 shares during the period. Invesco Ltd. lifted its holdings in shares of Immersion by 16.2% in the second quarter. Invesco Ltd. now owns 20,682 shares of the software maker's stock valued at $163,000 after buying an additional 2,886 shares during the period. Finally, Caitlin John LLC acquired a new stake in shares of Immersion in the second quarter valued at $27,000. 60.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Immersion news, insider Toro 18 Holdings Llc sold 105,541 shares of the firm's stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $4.63, for a total value of $488,654.83. Following the completion of the transaction, the insider directly owned 1,101,832 shares in the company, valued at $5,101,482.16. This trade represents a 8.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 442,815 shares of company stock worth $2,201,304 over the last ninety days. 10.60% of the stock is currently owned by corporate insiders.

Immersion Stock Performance

Shares of NASDAQ IMMR opened at $7.40 on Friday. The company has a quick ratio of 1.19, a current ratio of 2.30 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $245.61 million, a price-to-earnings ratio of 52.86 and a beta of 1.02. The stock's fifty day simple moving average is $7.28 and its 200 day simple moving average is $6.61. Immersion Corporation has a 52-week low of $5.25 and a 52-week high of $8.05.

Immersion (NASDAQ:IMMR - Get Free Report) last announced its earnings results on Friday, July 24th. The software maker reported $0.12 EPS for the quarter, beating the consensus estimate of $0.05 by $0.07. Immersion had a return on equity of 0.80% and a net margin of 0.26%.The business had revenue of $270.00 million during the quarter, compared to the consensus estimate of $230.00 million. As a group, sell-side analysts forecast that Immersion Corporation will post 0.26 earnings per share for the current fiscal year.

Immersion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, July 20th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $0.30 dividend on an annualized basis and a yield of 4.1%. Immersion's dividend payout ratio is currently 214.29%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. BWS Financial reaffirmed a "buy" rating and set a $13.50 target price on shares of Immersion in a report on Tuesday, July 28th. Weiss Ratings lowered shares of Immersion from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen raised shares of Immersion from a "sell" rating to a "hold" rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Immersion currently has a consensus rating of "Hold" and a consensus price target of $13.50.

About Immersion

Immersion Corporation is a technology company specializing in the development and licensing of haptic feedback solutions. The company's proprietary software and hardware technologies enable devices to simulate the sense of touch, enhancing user experiences across a range of electronic products. Immersion's core offerings include touch-feedback algorithms, software development kits, and reference designs that can be integrated into smartphones, gaming controllers, wearable devices, automotive infotainment systems, medical simulators and virtual or augmented reality platforms.

Since its founding in 1993, Immersion has built an extensive intellectual property portfolio of more than 950 issued patents worldwide.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.