Millennium Management LLC Buys 446,623 Shares of Immersion Co. (NASDAQ:IMMR)

Millennium Management LLC boosted its position in shares of Immersion Co. (NASDAQ:IMMR - Free Report) by 128.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 794,767 shares of the software maker's stock after acquiring an additional 446,623 shares during the period. Millennium Management LLC owned 2.46% of Immersion worth $6,938,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in Immersion in the 4th quarter worth approximately $51,000. Northern Trust Corp boosted its stake in shares of Immersion by 2.1% in the 4th quarter. Northern Trust Corp now owns 296,590 shares of the software maker's stock valued at $2,589,000 after purchasing an additional 6,239 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Immersion by 5.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,443 shares of the software maker's stock valued at $284,000 after purchasing an additional 1,604 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Immersion by 11.3% in the 4th quarter. Principal Financial Group Inc. now owns 55,227 shares of the software maker's stock valued at $482,000 after purchasing an additional 5,591 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Immersion in the 4th quarter valued at $98,000. Hedge funds and other institutional investors own 60.57% of the company's stock.

Immersion Trading Down 0.8%

IMMR traded down $0.06 during trading on Friday, hitting $7.55. 346,353 shares of the stock traded hands, compared to its average volume of 676,349. The firm has a market capitalization of $244.59 million, a P/E ratio of 2.70 and a beta of 1.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.65 and a quick ratio of 0.94. The firm has a 50-day moving average of $7.31 and a 200 day moving average of $8.09. Immersion Co. has a 12-month low of $6.47 and a 12-month 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 for the quarter, beating the consensus estimate of $0.14 by $0.33. The business had revenue of $474.76 million during the quarter, compared to analysts' expectations of $9.45 million. Immersion had a net margin of 11.79% and a return on equity of 28.08%. Equities research analysts anticipate that Immersion Co. will post 1.57 EPS for the current year.

Immersion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, April 14th were issued a $0.045 dividend. The ex-dividend date was Monday, April 14th. This represents a $0.18 annualized dividend and a yield of 2.38%. Immersion's dividend payout ratio (DPR) is presently 6.47%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Immersion from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Craig Hallum cut their price objective on shares of Immersion from $14.00 to $11.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. Finally, BWS Financial reissued a "buy" rating and set a $13.50 price target on shares of Immersion in a research report on Thursday, March 13th.

Insider Buying and Selling

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

Immersion 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.