Victory Capital Management Inc. Reduces Holdings in Immersion Co. (NASDAQ:IMMR)

Victory Capital Management Inc. reduced its position in shares of Immersion Co. (NASDAQ:IMMR) by 6.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 377,568 shares of the software maker’s stock after selling 27,912 shares during the period. Victory Capital Management Inc.’s holdings in Immersion were worth $3,296,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in Immersion in the fourth quarter valued at approximately $51,000. Quantbot Technologies LP acquired a new position in shares of Immersion during the third quarter worth $78,000. Proficio Capital Partners LLC acquired a new stake in Immersion in the fourth quarter valued at $98,000. Hennessy Advisors Inc. acquired a new stake in Immersion in the fourth quarter valued at $128,000. Finally, FMR LLC raised 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 in the last quarter. 60.57% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Immersion

In related news, Director Toro 18 Holdings Llc purchased 59,146 shares of Immersion stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $8.49 per share, with a total value of $502,149.54. Following the completion of the transaction, the director now directly owns 11,065,848 shares of the company’s stock, valued at $93,949,049.52. This trade represents a 0.54 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on IMMR shares. BWS Financial reissued a “buy” rating and set a $13.50 target price on shares of Immersion in a report on Thursday. Craig Hallum lowered their price target on shares of Immersion from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday.

Immersion Stock Performance

Shares of IMMR opened at $7.60 on Monday. Immersion Co. has a 52-week low of $7.06 and a 52-week high of $13.94. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $8.31 and a 200 day moving average price of $8.61. The firm has a market capitalization of $245.30 million, a PE ratio of 2.71 and a beta of 1.55.

Immersion (NASDAQ:IMMR) last posted its quarterly earnings data on Wednesday, March 12th. The software maker reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.33. Immersion had a net margin of 11.79% and a return on equity of 28.08%. The company had revenue of $474.76 million during the quarter, compared to analyst estimates of $9.45 million. On average, sell-side analysts anticipate that Immersion Co. will post 1.57 earnings per share for the current fiscal year.

Immersion Dividend Announcement

The company also recently disclosed 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. This represents a $0.18 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Monday, April 14th. Immersion’s dividend payout ratio is presently 4.64%.

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.