Insider Buying: Immersion (NASDAQ:IMMR) CEO Purchases $292,740.00 in Stock

Key Points

• CEO Eric Singer bought 41,000 Immersion shares at an average price of $7.14, investing $292,740 and increasing his direct ownership by 1.87% to 2.23 million shares.
• Immersion shares fell 1.7% to $7.14, while the company reported quarterly EPS of $0.17, beating the $0.06 consensus estimate. Analysts’ average rating remains “Hold,” with a $13.50 average price target.
• The company declared a quarterly dividend of $0.075 per share, equivalent to a $0.30 annualized payout and a 4.2% yield; institutional investors own 60.57% of the stock.

Immersion Corporation (NASDAQ:IMMR - Get Free Report) CEO Eric Singer bought 41,000 shares of the company's stock in a transaction that occurred on Wednesday, October 7th. The shares were bought at an average price of $7.14 per share, with a total value of $292,740.00. Following the completion of the acquisition, the chief executive officer directly owned 2,230,664 shares in the company, valued at $15,926,940.96. This trade represents a 1.87% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Immersion Trading Down 1.7%

Immersion stock traded down $0.12 during trading hours on Thursday, reaching $7.14. The company had a trading volume of 291,386 shares, compared to its average volume of 494,661. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.14 and a quick ratio of 1.16. The company has a 50-day moving average price of $7.46 and a 200 day moving average price of $6.75. The firm has a market cap of $237.12 million, a price-to-earnings ratio of 21.00 and a beta of 1.01. Immersion Corporation has a 12-month low of $5.25 and a 12-month high of $8.05.

Immersion (NASDAQ:IMMR - Get Free Report) last announced its quarterly earnings data on Monday, September 14th. The software maker reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.11. Immersion had a return on equity of 1.83% and a net margin of 0.60%.The firm had revenue of $294.40 million during the quarter, compared to the consensus estimate of $3.43 million. Equities analysts forecast that Immersion Corporation will post 0.26 earnings per share for the current year.

Immersion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be given a dividend of $0.0750 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $0.30 annualized dividend and a yield of 4.2%. Immersion's dividend payout ratio is presently 88.24%.

Institutional Trading of Immersion

Several large investors have recently added to or reduced their stakes in IMMR. Caitlin John LLC bought a new position in Immersion in the 2nd quarter worth $27,000. Strs Ohio bought a new stake in shares of Immersion during the 1st quarter valued at about $27,000. Persistent Asset Partners Ltd bought a new stake in shares of Immersion during the 2nd quarter valued at about $41,000. Optiver Holding B.V. increased its position in shares of Immersion by 1,681.2% during the first quarter. Optiver Holding B.V. now owns 7,855 shares of the software maker's stock valued at $43,000 after buying an additional 7,414 shares during the period. Finally, Two Sigma Securities LLC purchased a new position in shares of Immersion during the second quarter valued at about $71,000. Institutional investors own 60.57% of the company's stock.

Wall Street Analyst Weigh In

IMMR has been the subject of several recent analyst reports. BWS Financial reaffirmed a "buy" rating and set a $13.50 price objective on shares of Immersion in a research note on Tuesday, July 28th. Weiss Ratings raised Immersion from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, September 16th. Finally, Wall Street Zen upgraded Immersion from a "sell" rating to a "hold" rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $13.50.

Immersion Company Profile

Immersion Corporation is a technology company that develops and licenses haptic technologies, which enable electronic devices to provide tactile feedback such as vibrations, textures and other touch sensations. Its technologies are designed to make digital interactions more intuitive and immersive.

The company's haptic solutions and intellectual property are used across a range of markets, including smartphones and other consumer electronics, gaming systems and controllers, automotive interfaces, medical equipment and industrial devices.

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