Raymond James Financial Inc. Acquires Shares of 188,344 Immersion Co. (NASDAQ:IMMR)

Raymond James Financial Inc. bought a new position in shares of Immersion Co. (NASDAQ:IMMR) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 188,344 shares of the software maker’s stock, valued at approximately $1,644,000. Raymond James Financial Inc. owned about 0.58% of Immersion at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in Immersion during the fourth quarter worth about $51,000. Quantbot Technologies LP purchased a new stake in shares of Immersion in the 3rd quarter valued at approximately $78,000. Proficio Capital Partners LLC acquired a new stake in shares of Immersion during the 4th quarter worth approximately $98,000. Hennessy Advisors Inc. purchased a new stake in shares of Immersion during the 4th quarter valued at approximately $128,000. Finally, FMR LLC lifted its holdings in Immersion by 518.2% in the third quarter. FMR LLC now owns 19,481 shares of the software maker’s stock valued at $174,000 after acquiring an additional 16,330 shares during the last quarter. 60.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Immersion

In other Immersion news, Director Toro 18 Holdings Llc purchased 59,146 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was bought at an average price of $8.49 per share, with a total value of $502,149.54. Following the transaction, the director now directly owns 11,065,848 shares of the company’s stock, valued at approximately $93,949,049.52. This represents a 0.54 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric Singer purchased 42,638 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was acquired at an average price of $7.51 per share, with a total value of $320,211.38. Following the purchase, the chief executive officer now owns 2,161,866 shares of the company’s stock, valued at approximately $16,235,613.66. This represents a 2.01 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 128,934 shares of company stock valued at $1,027,343. 5.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IMMR. BWS Financial reissued a “buy” rating and set a $13.50 target price on shares of Immersion in a research note on Thursday, March 13th. Craig Hallum lowered their price target on Immersion from $14.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, March 13th.

Immersion Stock Performance

NASDAQ:IMMR opened at $7.74 on Wednesday. Immersion Co. has a fifty-two week low of $7.06 and a fifty-two week high of $13.94. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.94 and a current ratio of 1.65. The company has a 50 day moving average price of $8.10 and a 200 day moving average price of $8.51. The stock has a market capitalization of $250.75 million, a P/E ratio of 2.76 and a beta of 1.55.

Immersion (NASDAQ:IMMR) last released its quarterly earnings results on Wednesday, March 12th. The software maker reported $0.47 EPS for the quarter, topping the consensus estimate of $0.14 by $0.33. The business had revenue of $474.76 million during the quarter, compared to analyst estimates of $9.45 million. Immersion had a return on equity of 28.08% and a net margin of 11.79%. Equities research analysts forecast that Immersion Co. will post 1.57 EPS for the current year.

Immersion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 14th will be paid a dividend of $0.045 per share. The ex-dividend date of this dividend is Monday, April 14th. This represents a $0.18 dividend on an annualized basis and a yield of 2.33%. Immersion’s dividend payout ratio (DPR) is presently 6.47%.

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.