Immersion Co. (NASDAQ:IMMR) Holdings Reduced by Perennial Investment Advisors LLC

Perennial Investment Advisors LLC lowered its position in Immersion Co. (NASDAQ:IMMR) by 12.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,102 shares of the software maker’s stock after selling 5,085 shares during the quarter. Perennial Investment Advisors LLC owned about 0.12% of Immersion worth $349,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Acadian Asset Management LLC bought a new position in shares of Immersion in the second quarter worth $3,375,000. GSA Capital Partners LLP acquired a new stake in Immersion in the first quarter worth about $1,285,000. ClariVest Asset Management LLC bought a new position in Immersion in the 2nd quarter valued at about $1,571,000. Renaissance Technologies LLC increased its stake in Immersion by 43.3% during the 2nd quarter. Renaissance Technologies LLC now owns 498,213 shares of the software maker’s stock valued at $4,688,000 after buying an additional 150,513 shares during the period. Finally, Los Angeles Capital Management LLC raised its position in shares of Immersion by 151.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 209,675 shares of the software maker’s stock worth $1,973,000 after buying an additional 126,247 shares in the last quarter. Institutional investors own 60.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on IMMR shares. BWS Financial increased their price objective on shares of Immersion from $11.00 to $13.50 and gave the company a “buy” rating in a report on Monday, August 26th. StockNews.com raised Immersion from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th.

Insider Transactions at Immersion

In related news, insider William C. Martin purchased 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was acquired at an average price of $8.81 per share, for a total transaction of $132,150.00. Following the transaction, the insider now directly owns 1,364,265 shares of the company’s stock, valued at approximately $12,019,174.65. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider William C. Martin purchased 15,000 shares of Immersion stock in a transaction that occurred on Tuesday, August 27th. The stock was acquired at an average price of $8.81 per share, for a total transaction of $132,150.00. Following the transaction, the insider now owns 1,364,265 shares in the company, valued at $12,019,174.65. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric Singer acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average cost of $8.77 per share, with a total value of $438,500.00. Following the purchase, the chief executive officer now directly owns 1,912,867 shares in the company, valued at approximately $16,775,843.59. The disclosure for this purchase can be found here. Insiders have purchased 66,155 shares of company stock valued at $580,675 over the last three months. Company insiders own 5.50% of the company’s stock.

Immersion Stock Performance

NASDAQ:IMMR opened at $8.87 on Wednesday. The company has a 50-day moving average of $10.50 and a 200-day moving average of $9.19. The firm has a market cap of $282.55 million, a price-to-earnings ratio of 6.45 and a beta of 1.48. The company has a current ratio of 1.55, a quick ratio of 0.72 and a debt-to-equity ratio of 0.44. Immersion Co. has a twelve month low of $5.94 and a twelve month high of $13.94.

Immersion (NASDAQ:IMMR) last issued its earnings results on Monday, August 19th. The software maker reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.55. The firm had revenue of $99.42 million during the quarter, compared to analysts’ expectations of $7.29 million. Immersion had a net margin of 40.62% and a return on equity of 27.05%. Analysts forecast that Immersion Co. will post 1.96 earnings per share for the current fiscal year.

Immersion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, October 4th will be issued a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, October 4th. Immersion’s payout ratio is 13.14%.

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.