AlphaQuest LLC Buys Shares of 7,043 Immersion Co. (NASDAQ:IMMR)

AlphaQuest LLC bought a new stake in Immersion Co. (NASDAQ:IMMR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,043 shares of the software maker’s stock, valued at approximately $61,000.

Other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in Immersion in the fourth quarter valued at approximately $51,000. Quantbot Technologies LP acquired a new stake in Immersion in the third quarter valued at approximately $78,000. Proficio Capital Partners LLC acquired a new stake in Immersion in the fourth quarter valued at approximately $98,000. Hennessy Advisors Inc. acquired a new stake in Immersion in the fourth quarter valued at approximately $128,000. Finally, FMR LLC lifted its holdings in shares of Immersion by 518.2% during the third quarter. FMR LLC now owns 19,481 shares of the software maker’s stock worth $174,000 after purchasing an additional 16,330 shares during the period. Institutional investors and hedge funds own 60.57% of the company’s stock.

Insider Activity at Immersion

In related 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 purchased at an average cost of $8.49 per share, with a total value of $502,149.54. Following the completion of the purchase, the director now owns 11,065,848 shares in the company, valued at approximately $93,949,049.52. This trade represents a 0.54 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.50% of the stock is owned by company insiders.

Immersion Price Performance

Shares of NASDAQ:IMMR opened at $7.63 on Thursday. The firm has a market cap of $247.18 million, a PE ratio of 2.73 and a beta of 1.55. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.94 and a current ratio of 1.65. Immersion Co. has a 52 week low of $7.06 and a 52 week high of $13.94. The firm’s fifty day moving average is $8.25 and its 200-day moving average is $8.58.

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

Immersion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, April 14th will be issued a $0.045 dividend. The ex-dividend date is Monday, April 14th. This represents a $0.18 annualized dividend and a yield of 2.36%. Immersion’s payout ratio is 6.47%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Craig Hallum cut their price target on shares of Immersion from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. BWS Financial reiterated a “buy” rating and set a $13.50 price target on shares of Immersion in a report on Thursday, March 13th.

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.