Immersion Co. (NASDAQ:IMMR) Shares Acquired by Legal & General Group Plc

Legal & General Group Plc grew its stake in shares of Immersion Co. (NASDAQ:IMMR) by 44.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,910 shares of the software maker’s stock after purchasing an additional 2,425 shares during the period. Legal & General Group Plc’s holdings in Immersion were worth $69,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Kanen Wealth Management LLC boosted its position in Immersion by 84.6% during the 4th quarter. Kanen Wealth Management LLC now owns 600,000 shares of the software maker’s stock worth $5,238,000 after acquiring an additional 275,000 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Immersion during the fourth quarter worth approximately $1,644,000. Segall Bryant & Hamill LLC grew its position in Immersion by 41.7% during the fourth quarter. Segall Bryant & Hamill LLC now owns 494,574 shares of the software maker’s stock valued at $4,318,000 after purchasing an additional 145,546 shares in the last quarter. Bank of New York Mellon Corp increased 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 valued at $3,127,000 after buying an additional 51,655 shares during the period. Finally, EntryPoint Capital LLC purchased a new stake in Immersion in the 4th quarter worth approximately $327,000. Institutional investors and hedge funds own 60.57% of the company’s stock.

Analyst Ratings Changes

IMMR has been the topic of several recent research reports. BWS Financial reaffirmed a “buy” rating and set a $13.50 price objective on shares of Immersion in a research report on Thursday, March 13th. Craig Hallum decreased their price objective on shares of Immersion from $14.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, March 13th.

Immersion Stock Performance

NASDAQ:IMMR opened at $7.27 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.94 and a current ratio of 1.65. The firm’s 50-day moving average is $7.45 and its 200-day moving average is $8.25. Immersion Co. has a 52-week low of $6.47 and a 52-week high of $13.94. The company has a market cap of $235.52 million, a price-to-earnings ratio of 2.60 and a beta of 1.50.

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

Immersion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, April 14th were issued a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Monday, April 14th. Immersion’s payout ratio is 6.47%.

Insider Activity

In related news, Director Toro 18 Holdings Llc acquired 59,146 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $8.49 per share, with a total value of $502,149.54. Following the acquisition, the director now directly owns 11,065,848 shares in the company, valued at $93,949,049.52. The trade was a 0.54 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider William C. Martin bought 27,150 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was bought 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 owns 1,450,693 shares of the company’s stock, valued at approximately $10,952,732.15. The trade was a 1.91 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 128,934 shares of company stock worth $1,027,343. Insiders own 5.50% of the company’s stock.

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.