Victory Capital Management Inc. Sells 27,912 Shares of Immersion Co. (NASDAQ:IMMR)

Victory Capital Management Inc. cut its holdings in shares of Immersion Co. (NASDAQ:IMMR) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 377,568 shares of the software maker’s stock after selling 27,912 shares during the period. Victory Capital Management Inc. owned 1.17% of Immersion worth $3,296,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Segall Bryant & Hamill LLC purchased a new position in shares of Immersion during the third quarter worth $3,113,000. Barclays PLC increased its stake in shares of Immersion by 276.0% during the third quarter. Barclays PLC now owns 39,579 shares of the software maker’s stock worth $353,000 after purchasing an additional 29,054 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Immersion during the fourth quarter worth about $51,000. Franklin Resources Inc. increased its stake in shares of Immersion by 5.8% during the third quarter. Franklin Resources Inc. now owns 52,804 shares of the software maker’s stock worth $447,000 after purchasing an additional 2,879 shares in the last quarter. Finally, State Street Corp boosted its position in Immersion by 1.0% during the third quarter. State Street Corp now owns 681,414 shares of the software maker’s stock worth $6,078,000 after acquiring an additional 6,990 shares during the last quarter. 60.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IMMR has been the topic of a number of recent research reports. Craig Hallum lowered their price target on shares of Immersion from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday. BWS Financial reissued a “buy” rating and issued a $13.50 price target on shares of Immersion in a research note on Thursday.

Immersion Price Performance

Shares of IMMR opened at $7.60 on Monday. Immersion Co. has a fifty-two week low of $7.06 and a fifty-two week high of $13.94. The firm’s 50 day moving average price is $8.31 and its 200 day moving average price is $8.61. The company has a market cap of $245.30 million, a P/E ratio of 2.71 and a beta of 1.55. 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 (NASDAQ:IMMR) last announced its quarterly earnings data on Wednesday, March 12th. The software maker reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.33. Immersion had a net margin of 11.79% and a return on equity of 28.08%. The company had revenue of $474.76 million for the quarter, compared to the consensus estimate of $9.45 million. On average, research analysts forecast that Immersion Co. will post 1.57 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, April 25th. Stockholders of record on Monday, April 14th will be issued a $0.045 dividend. This represents a $0.18 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Monday, April 14th. Immersion’s payout ratio is 4.64%.

Insider Activity

In other Immersion news, Director Toro 18 Holdings Llc purchased 59,146 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $8.49 per share, for a total transaction of $502,149.54. Following the purchase, the director now directly owns 11,065,848 shares in the company, valued at approximately $93,949,049.52. This trade represents a 0.54 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.50% of the company’s stock.

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.