Traders Purchase Large Volume of Put Options on Immersion (NASDAQ:IMMR)

Immersion Co. (NASDAQ:IMMR) was the target of unusually large options trading on Tuesday. Investors acquired 3,000 put options on the stock. This represents an increase of 171% compared to the average daily volume of 1,108 put options.

Immersion Stock Performance

IMMR stock opened at $8.95 on Thursday. The company has a quick ratio of 0.72, a current ratio of 1.55 and a debt-to-equity ratio of 0.44. The firm has a market cap of $288.87 million, a PE ratio of 4.37 and a beta of 1.51. The business has a 50 day moving average of $8.78 and a 200-day moving average of $9.54. Immersion has a 12-month low of $6.54 and a 12-month high of $13.94.

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

Immersion Dividend Announcement

The company also recently declared a None dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be paid a dividend of $0.245 per share. The ex-dividend date is Friday, January 10th. Immersion’s dividend payout ratio (DPR) is currently 6.43%.

Wall Street Analysts Forecast Growth

IMMR has been the subject of several analyst 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 restated a “buy” rating and set a $13.50 price target on shares of Immersion in a report on Wednesday, December 18th.

Institutional Investors Weigh In On Immersion

Hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC increased its position in shares of Immersion by 43.3% during the second quarter. Renaissance Technologies LLC now owns 498,213 shares of the software maker’s stock valued at $4,688,000 after buying an additional 150,513 shares during the period. Segall Bryant & Hamill LLC bought a new stake in Immersion during the 3rd quarter valued at about $3,113,000. Los Angeles Capital Management LLC raised its holdings in Immersion by 151.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 209,675 shares of the software maker’s stock worth $1,973,000 after acquiring an additional 126,247 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Immersion by 226.9% in the second quarter. Marshall Wace LLP now owns 178,859 shares of the software maker’s stock worth $1,683,000 after purchasing an additional 124,143 shares during the last quarter. Finally, MorganRosel Wealth Management LLC purchased a new position in Immersion in the 3rd quarter worth about $1,063,000. 60.57% of the stock is currently owned by institutional investors.

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.