Millennium Management LLC Boosts Stock Position in Immersion Co. (NASDAQ:IMMR)

Millennium Management LLC grew its stake in shares of Immersion Co. (NASDAQ:IMMR) by 128.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 794,767 shares of the software maker’s stock after acquiring an additional 446,623 shares during the period. Millennium Management LLC owned 2.46% of Immersion worth $6,938,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in IMMR. Raymond James Financial Inc. purchased a new stake in shares of Immersion during the fourth quarter worth $1,644,000. Segall Bryant & Hamill LLC lifted its position in shares of Immersion by 41.7% during the fourth quarter. Segall Bryant & Hamill LLC now owns 494,574 shares of the software maker’s stock worth $4,318,000 after acquiring an additional 145,546 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of Immersion during the fourth quarter worth $700,000. Bank of New York Mellon Corp lifted its position in shares of Immersion by 16.8% during the fourth quarter. Bank of New York Mellon Corp now owns 358,240 shares of the software maker’s stock worth $3,127,000 after acquiring an additional 51,655 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Immersion during the fourth quarter worth $394,000. Hedge funds and other institutional investors own 60.57% of the company’s stock.

Immersion Stock Down 1.5%

IMMR opened at $7.28 on Tuesday. The business’s fifty day simple moving average is $7.32 and its 200 day simple moving average is $8.11. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.37. Immersion Co. has a 52 week low of $6.47 and a 52 week high of $13.94. The stock has a market cap of $235.84 million, a PE ratio of 2.60 and a beta of 1.40.

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

Immersion Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Monday, April 14th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.47%. Immersion’s dividend payout ratio is currently 6.47%.

Analyst Ratings Changes

Several research analysts have recently weighed in on IMMR shares. Craig Hallum decreased their price target on shares of Immersion from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. BWS Financial reaffirmed a “buy” rating and issued a $13.50 price target on shares of Immersion in a report on Thursday, March 13th. Finally, Wall Street Zen raised shares of Immersion from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd.

Insider Transactions at Immersion

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