Victory Capital Management Inc. Has $3.52 Million Holdings in Immersion Co. (NASDAQ:IMMR)

Victory Capital Management Inc. lowered its stake in Immersion Co. (NASDAQ:IMMR) by 1.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 374,417 shares of the software maker’s stock after selling 5,295 shares during the period. Victory Capital Management Inc. owned approximately 1.18% of Immersion worth $3,523,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Rhumbline Advisers lifted its position in shares of Immersion by 2.7% in the second quarter. Rhumbline Advisers now owns 50,670 shares of the software maker’s stock worth $477,000 after buying an additional 1,322 shares during the last quarter. Hanseatic Management Services Inc. bought a new stake in Immersion during the 2nd quarter valued at approximately $501,000. Principal Financial Group Inc. boosted its stake in Immersion by 12.3% during the 2nd quarter. Principal Financial Group Inc. now owns 57,340 shares of the software maker’s stock valued at $540,000 after purchasing an additional 6,263 shares during the period. Bank of New York Mellon Corp boosted its stake in Immersion by 6.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 336,358 shares of the software maker’s stock valued at $3,165,000 after purchasing an additional 21,813 shares during the period. Finally, SummerHaven Investment Management LLC lifted its position in shares of Immersion by 1.5% in the 2nd 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 during the period. Institutional investors and hedge funds own 60.57% of the company’s stock.

Insider Buying and Selling at Immersion

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

Analyst Upgrades and Downgrades

IMMR has been the subject of a number of recent research reports. StockNews.com raised Immersion from a “hold” rating to a “buy” rating in a report on Thursday, August 29th. BWS Financial raised their price target on Immersion from $11.00 to $13.50 and gave the company a “buy” rating in a report on Monday, August 26th.

Immersion Stock Down 4.6 %

Shares of IMMR opened at $8.85 on Tuesday. The firm has a market capitalization of $281.92 million, a price-to-earnings ratio of 6.46 and a beta of 1.48. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.72 and a current ratio of 1.55. The business’s fifty day moving average price is $10.50 and its two-hundred day moving average price is $9.19. Immersion Co. has a 52 week low of $5.94 and a 52 week high of $13.94.

Immersion (NASDAQ:IMMR) last announced its quarterly earnings data on Monday, August 19th. The software maker reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.55. The firm had revenue of $99.42 million for the quarter, compared to analyst estimates of $7.29 million. Immersion had a return on equity of 27.05% and a net margin of 40.62%. On average, analysts predict that Immersion Co. will post 1.96 earnings per share for the current year.

Immersion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be given a $0.045 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.18 dividend on an annualized basis and a yield of 2.03%. 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.