Acadian Asset Management LLC Invests $3.38 Million in Immersion Co. (NASDAQ:IMMR)

Acadian Asset Management LLC acquired a new stake in Immersion Co. (NASDAQ:IMMR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 358,983 shares of the software maker’s stock, valued at approximately $3,375,000. Acadian Asset Management LLC owned approximately 1.13% of Immersion at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its position in shares of Immersion by 15.9% in the fourth quarter. Russell Investments Group Ltd. now owns 235,045 shares of the software maker’s stock valued at $1,659,000 after buying an additional 32,323 shares in the last quarter. BNP Paribas Financial Markets raised its position in Immersion by 268.4% during the fourth quarter. BNP Paribas Financial Markets now owns 50,308 shares of the software maker’s stock worth $355,000 after acquiring an additional 36,653 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Immersion in the fourth quarter valued at about $442,000. Campbell & CO Investment Adviser LLC grew its position in shares of Immersion by 1.7% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 104,834 shares of the software maker’s stock valued at $740,000 after purchasing an additional 1,757 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Immersion during the 1st quarter worth approximately $134,000. 60.57% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Immersion

In related news, insider William C. Martin bought 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were 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 owns 1,364,265 shares of the company’s stock, valued at $12,019,174.65. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider William C. Martin bought 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were acquired at an average cost of $8.81 per share, with a total value of $132,150.00. Following the transaction, the insider now owns 1,364,265 shares of the company’s stock, valued at approximately $12,019,174.65. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Eric Singer bought 50,000 shares of Immersion stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average price of $8.77 per share, for a total transaction of $438,500.00. Following the acquisition, the chief executive officer now directly owns 1,912,867 shares of the company’s stock, valued at approximately $16,775,843.59. The disclosure for this purchase can be found here. Insiders acquired 66,155 shares of company stock worth $580,675 in the last 90 days. 5.50% of the stock is owned by company insiders.

Immersion Stock Performance

Shares of IMMR opened at $8.94 on Friday. Immersion Co. has a 1 year low of $5.94 and a 1 year high of $13.94. The company’s 50 day simple moving average is $10.54 and its 200 day simple moving average is $9.13. The company has a market capitalization of $284.78 million, a price-to-earnings ratio of 6.53 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.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings results on Monday, August 19th. The software maker reported $0.89 earnings per share 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 company had revenue of $99.42 million for the quarter, compared to analyst estimates of $7.29 million. On average, sell-side analysts predict that Immersion Co. will post 1.96 EPS for the current year.

Immersion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be paid a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, October 4th. Immersion’s payout ratio is 13.14%.

Analysts Set New Price Targets

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

Immersion 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.