13,554 Shares in Immersion Co. (NASDAQ:IMMR) Acquired by Intech Investment Management LLC

Intech Investment Management LLC acquired a new stake in Immersion Co. (NASDAQ:IMMR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 13,554 shares of the software maker’s stock, valued at approximately $118,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kanen Wealth Management LLC raised its position in shares of Immersion by 84.6% in the fourth quarter. Kanen Wealth Management LLC now owns 600,000 shares of the software maker’s stock valued at $5,238,000 after buying an additional 275,000 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Immersion during the 4th quarter valued at about $1,644,000. Sanctuary Advisors LLC acquired a new stake in Immersion in the 3rd quarter valued at about $740,000. Bank of New York Mellon Corp lifted its stake in Immersion by 16.8% in the 4th quarter. Bank of New York Mellon Corp now owns 358,240 shares of the software maker’s stock worth $3,127,000 after purchasing an additional 51,655 shares in the last quarter. Finally, Penn Mutual Asset Management acquired a new position in shares of Immersion during the 3rd quarter worth approximately $285,000. Institutional investors and hedge funds own 60.57% of the company’s stock.

Insider Activity at Immersion

In other news, Director Toro 18 Holdings Llc purchased 59,146 shares of the stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $8.49 per share, for a total transaction of $502,149.54. Following the completion of the transaction, the director now directly owns 11,065,848 shares in the company, valued at approximately $93,949,049.52. This represents a 0.54 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William C. Martin acquired 27,150 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was purchased at an average cost of $7.55 per share, with a total value of $204,982.50. Following the completion of the purchase, the insider now directly owns 1,450,693 shares of the company’s stock, valued at approximately $10,952,732.15. This represents a 1.91 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 128,934 shares of company stock worth $1,027,343. Company insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IMMR shares. BWS Financial reaffirmed a “buy” rating and issued a $13.50 price target on shares of Immersion in a report on Thursday, March 13th. Craig Hallum cut their target price on Immersion from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, March 13th.

Immersion Stock Performance

Immersion stock opened at $8.02 on Friday. The firm has a 50 day simple moving average of $8.16 and a 200-day simple moving average of $8.54. The stock has a market cap of $259.82 million, a price-to-earnings ratio of 2.86 and a beta of 1.55. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.65 and a quick ratio of 0.94. Immersion Co. has a 1-year low of $7.06 and a 1-year high of $13.94.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings data on Wednesday, March 12th. The software maker reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.33. Immersion had a return on equity of 28.08% and a net margin of 11.79%. The company had revenue of $474.76 million during the quarter, compared to analyst estimates of $9.45 million. On average, analysts expect that Immersion Co. will post 1.57 EPS for the current year.

Immersion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, April 14th will be given a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date is Monday, April 14th. Immersion’s payout ratio is 6.47%.

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.