Quarry LP Buys New Position in Immersion Co. (NASDAQ:IMMR)

Quarry LP purchased a new stake in Immersion Co. (NASDAQ:IMMR) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,786 shares of the software maker’s stock, valued at approximately $26,000.

Several other large investors have also added to or reduced their stakes in IMMR. Acadian Asset Management LLC purchased a new stake in shares of Immersion in the 2nd quarter worth about $3,375,000. GSA Capital Partners LLP bought a new position in Immersion in the first quarter worth about $1,285,000. ClariVest Asset Management LLC bought a new position in Immersion in the second quarter worth about $1,571,000. Renaissance Technologies LLC lifted its holdings in Immersion by 43.3% in the second quarter. Renaissance Technologies LLC now owns 498,213 shares of the software maker’s stock worth $4,688,000 after buying an additional 150,513 shares during the period. Finally, Los Angeles Capital Management LLC boosted its position in Immersion by 151.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 209,675 shares of the software maker’s stock valued at $1,973,000 after acquiring an additional 126,247 shares in the last quarter. Institutional investors own 60.57% of the company’s stock.

Immersion Trading Down 1.0 %

NASDAQ:IMMR opened at $8.75 on Tuesday. The firm has a market capitalization of $278.73 million, a P/E ratio of 6.39 and a beta of 1.48. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.55 and a quick ratio of 0.72. Immersion Co. has a one year low of $5.94 and a one year high of $13.94. The company’s 50-day simple moving average is $9.51 and its 200 day simple moving average is $9.33.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings results on Monday, August 19th. The software maker reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.55. Immersion had a return on equity of 27.05% and a net margin of 40.62%. The firm had revenue of $99.42 million for the quarter, compared to analysts’ expectations of $7.29 million. As a group, analysts forecast that Immersion Co. will post 1.96 EPS for the current fiscal year.

Immersion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.045 per share. The ex-dividend date is Friday, October 4th. This represents a $0.18 annualized dividend and a dividend yield of 2.06%. Immersion’s payout ratio is presently 13.14%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Immersion

In other news, CEO Eric Singer acquired 50,000 shares of Immersion stock in a transaction on Tuesday, August 27th. The stock was acquired at an average cost of $8.77 per share, for a total transaction of $438,500.00. Following the purchase, the chief executive officer now owns 1,912,867 shares in the company, valued at $16,775,843.59. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Immersion news, CEO Eric Singer bought 50,000 shares of Immersion stock in a transaction on Tuesday, August 27th. The stock was acquired at an average price of $8.77 per share, with a total value of $438,500.00. Following the acquisition, the chief executive officer now owns 1,912,867 shares in the company, valued at approximately $16,775,843.59. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William C. Martin purchased 15,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was acquired at an average price of $8.81 per share, with a total value of $132,150.00. Following the purchase, the insider now directly owns 1,364,265 shares of the company’s stock, valued at approximately $12,019,174.65. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 66,155 shares of company stock valued at $580,675 in the last quarter. 5.50% of the stock is owned by insiders.

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.