Immersion Co. (NASDAQ:IMMR) Short Interest Up 21.8% in September

Immersion Co. (NASDAQ:IMMR) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 3,750,000 shares, a growth of 21.8% from the August 31st total of 3,080,000 shares. Approximately 13.1% of the shares of the stock are short sold. Based on an average trading volume of 1,010,000 shares, the short-interest ratio is presently 3.7 days.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IMMR. BWS Financial lifted their target price on Immersion from $11.00 to $13.50 and gave the company a “buy” rating in a research note on Monday, August 26th. StockNews.com upgraded Immersion from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th.

Immersion Trading Down 0.3 %

NASDAQ IMMR traded down $0.03 during trading hours on Monday, hitting $8.92. The company’s stock had a trading volume of 458,962 shares, compared to its average volume of 701,115. Immersion has a twelve month low of $5.94 and a twelve month high of $13.94. The firm has a market capitalization of $284.15 million, a P/E ratio of 6.50 and a beta of 1.48. The company has a quick ratio of 0.72, a current ratio of 1.55 and a debt-to-equity ratio of 0.44. The stock has a fifty day moving average of $10.04 and a 200 day moving average of $9.30.

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

Immersion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, October 4th will be paid a $0.045 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.02%. Immersion’s dividend payout ratio (DPR) is presently 13.14%.

Insider Activity

In other Immersion news, insider William C. Martin purchased 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were acquired at an average cost 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 in the company, valued at $12,019,174.65. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Eric Singer bought 50,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was bought at an average cost of $8.77 per share, with a total value of $438,500.00. Following the completion of the purchase, the chief executive officer now owns 1,912,867 shares in the company, valued at approximately $16,775,843.59. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider William C. Martin purchased 15,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were bought at an average cost of $8.81 per share, for a total transaction of $132,150.00. Following the completion of the purchase, the insider now directly owns 1,364,265 shares of the company’s stock, valued at $12,019,174.65. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 66,155 shares of company stock worth $580,675. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of IMMR. The Manufacturers Life Insurance Company raised its holdings in Immersion by 10.2% in the second quarter. The Manufacturers Life Insurance Company now owns 12,315 shares of the software maker’s stock worth $116,000 after purchasing an additional 1,139 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Immersion by 4.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,120 shares of the software maker’s stock worth $218,000 after buying an additional 1,140 shares during the period. Rhumbline Advisers grew its stake in Immersion by 2.7% in the second quarter. Rhumbline Advisers now owns 50,670 shares of the software maker’s stock valued at $477,000 after acquiring an additional 1,322 shares during the period. SummerHaven Investment Management LLC increased its holdings in shares of Immersion by 1.5% in the second quarter. SummerHaven Investment Management LLC now owns 104,805 shares of the software maker’s stock worth $986,000 after acquiring an additional 1,512 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its position in shares of Immersion by 1.7% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 104,834 shares of the software maker’s stock worth $740,000 after purchasing an additional 1,757 shares during the period. Institutional investors own 60.57% of the company’s stock.

About Immersion

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.