Register Financial Advisors LLC Sells 13,764 Shares of Immersion Co. (NASDAQ:IMMR)

Register Financial Advisors LLC trimmed its stake in shares of Immersion Co. (NASDAQ:IMMR) by 34.8% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 25,836 shares of the software maker’s stock after selling 13,764 shares during the quarter. Register Financial Advisors LLC owned about 0.08% of Immersion worth $193,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of IMMR. Los Angeles Capital Management LLC lifted its position in shares of Immersion by 80.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 224,598 shares of the software maker’s stock valued at $1,586,000 after acquiring an additional 99,853 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of Immersion during the 4th quarter valued at $442,000. Gallacher Capital Management LLC bought a new stake in shares of Immersion during the 4th quarter valued at $420,000. O Shaughnessy Asset Management LLC lifted its position in shares of Immersion by 36.0% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 185,771 shares of the software maker’s stock valued at $1,228,000 after acquiring an additional 49,169 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of Immersion by 268.4% during the 4th quarter. BNP Paribas Financial Markets now owns 50,308 shares of the software maker’s stock valued at $355,000 after acquiring an additional 36,653 shares during the period. 60.57% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO J Michael Dodson sold 4,947 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $10.68, for a total value of $52,833.96. Following the completion of the sale, the chief financial officer now owns 45,053 shares of the company’s stock, valued at $481,166.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on IMMR shares. StockNews.com upgraded Immersion from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. BWS Financial restated a “buy” rating and set a $11.00 price objective on shares of Immersion in a research report on Thursday, May 23rd.

Immersion Stock Down 1.1 %

Shares of IMMR stock opened at $9.41 on Friday. Immersion Co. has a twelve month low of $5.94 and a twelve month high of $11.04. The business has a fifty day simple moving average of $9.13 and a 200 day simple moving average of $7.81. The company has a market cap of $299.71 million, a P/E ratio of 6.87 and a beta of 1.48.

Immersion (NASDAQ:IMMR) last issued its earnings results on Wednesday, May 8th. The software maker reported $0.59 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.59. Immersion had a return on equity of 24.50% and a net margin of 62.74%. The business had revenue of $43.85 million during the quarter, compared to analysts’ expectations of $24.94 million. As a group, equities research analysts anticipate that Immersion Co. will post 1.17 earnings per share for the current fiscal year.

Immersion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Monday, July 8th will be paid a $0.045 dividend. The ex-dividend date is Monday, July 8th. This represents a $0.18 annualized dividend and a dividend yield of 1.91%. Immersion’s payout ratio is 13.14%.

Immersion Company 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.