Immersion Co. (NASDAQ:IMMR) Sees Large Decline in Short Interest

Immersion Co. (NASDAQ:IMMR) was the target of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 3,140,000 shares, a decrease of 8.2% from the November 15th total of 3,420,000 shares. Currently, 10.9% of the company’s stock are short sold. Based on an average daily trading volume, of 605,500 shares, the days-to-cover ratio is currently 5.2 days.

Immersion Stock Up 0.6 %

Shares of NASDAQ:IMMR opened at $9.79 on Wednesday. The stock has a market cap of $315.98 million, a price-to-earnings ratio of 4.78 and a beta of 1.51. The business’s 50 day moving average is $8.72 and its 200 day moving average is $9.58. Immersion has a 12-month low of $6.54 and a 12-month high of $13.94. The company has a quick ratio of 0.72, a current ratio of 1.55 and a debt-to-equity ratio of 0.44.

Immersion (NASDAQ:IMMR) last announced its earnings results on Monday, December 16th. The software maker reported $0.83 EPS for the quarter, beating the consensus estimate of $0.15 by $0.68. Immersion had a net margin of 40.62% and a return on equity of 27.05%. On average, sell-side analysts forecast that Immersion will post 1.96 earnings per share for the current fiscal year.

Immersion Announces Dividend

The firm also recently declared a None dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be issued a dividend of $0.245 per share. The ex-dividend date is Friday, January 10th. Immersion’s dividend payout ratio (DPR) is currently 8.78%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. BWS Financial boosted their price objective 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 shares of Immersion from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. grew its position in Immersion by 5.8% during the third quarter. Franklin Resources Inc. now owns 52,804 shares of the software maker’s stock valued at $447,000 after buying an additional 2,879 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Immersion in the third quarter valued at $740,000. Barclays PLC raised its stake in shares of Immersion by 276.0% during the 3rd quarter. Barclays PLC now owns 39,579 shares of the software maker’s stock valued at $353,000 after purchasing an additional 29,054 shares during the period. Geode Capital Management LLC raised its stake in Immersion by 2.9% in the third quarter. Geode Capital Management LLC now owns 738,295 shares of the software maker’s stock valued at $6,587,000 after purchasing an additional 20,982 shares in the last quarter. Finally, Zacks Investment Management lifted its position in Immersion by 99.2% during the third quarter. Zacks Investment Management now owns 25,898 shares of the software maker’s stock valued at $231,000 after purchasing an additional 12,894 shares during the last quarter. Institutional investors own 60.57% of the company’s stock.

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.