Immersion Co. (NASDAQ:IMMR) Shares Bought by Truist Financial Corp

Truist Financial Corp lifted its stake in Immersion Co. (NASDAQ:IMMR) by 15.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,132 shares of the software maker’s stock after acquiring an additional 6,000 shares during the period. Truist Financial Corp owned 0.14% of Immersion worth $425,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in IMMR. Principal Financial Group Inc. acquired a new stake in shares of Immersion in the 1st quarter worth approximately $382,000. BNP Paribas Financial Markets lifted its stake in Immersion by 41.4% during the first quarter. BNP Paribas Financial Markets now owns 71,119 shares of the software maker’s stock valued at $532,000 after purchasing an additional 20,811 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Immersion during the first quarter valued at approximately $1,285,000. Gallacher Capital Management LLC lifted its stake in Immersion by 4.1% during the first quarter. Gallacher Capital Management LLC now owns 61,941 shares of the software maker’s stock valued at $463,000 after purchasing an additional 2,460 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Immersion by 2.1% during the first quarter. Russell Investments Group Ltd. now owns 240,023 shares of the software maker’s stock valued at $1,795,000 after purchasing an additional 4,978 shares during the last quarter. 60.57% of the stock is owned by institutional investors and hedge funds.

Immersion Stock Down 1.5 %

IMMR stock opened at $8.41 on Friday. Immersion Co. has a 52-week low of $5.94 and a 52-week high of $13.94. The company’s 50 day simple moving average is $9.06 and its 200-day simple moving average is $9.36. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.55 and a quick ratio of 0.72. The firm has a market capitalization of $267.90 million, a P/E ratio of 6.14 and a beta of 1.48.

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

Immersion Announces Dividend

The company 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 of this dividend is Friday, October 4th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.14%. Immersion’s dividend payout ratio is currently 13.14%.

Analyst Ratings Changes

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

Insider Activity

In related news, insider William C. Martin acquired 15,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were purchased at an average price of $8.81 per share, for a total transaction of $132,150.00. Following the purchase, the insider now owns 1,364,265 shares in the company, valued at $12,019,174.65. This 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 this link. In related news, CEO Eric Singer acquired 50,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were purchased at an average price 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 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 this link. Also, insider William C. Martin bought 15,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was acquired at an average cost of $8.81 per share, with a total value of $132,150.00. Following the completion of the transaction, the insider now directly owns 1,364,265 shares of the company’s stock, valued at approximately $12,019,174.65. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 66,155 shares of company stock worth $580,675 over the last 90 days. 5.50% of the stock is owned by company insiders.

About Immersion

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.