Farther Finance Advisors LLC Grows Position in Immersion Co. (NASDAQ:IMMR)

Farther Finance Advisors LLC raised its holdings in Immersion Co. (NASDAQ:IMMR) by 29,900.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,000 shares of the software maker’s stock after purchasing an additional 2,990 shares during the period. Farther Finance Advisors LLC’s holdings in Immersion were worth $26,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of IMMR. Kanen Wealth Management LLC grew its stake in Immersion by 84.6% in the 4th quarter. Kanen Wealth Management LLC now owns 600,000 shares of the software maker’s stock valued at $5,238,000 after buying an additional 275,000 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Immersion in the fourth quarter valued at $1,644,000. Sanctuary Advisors LLC bought a new stake in shares of Immersion during the 3rd quarter valued at $740,000. Bank of New York Mellon Corp lifted its holdings in Immersion by 16.8% during the 4th quarter. Bank of New York Mellon Corp now owns 358,240 shares of the software maker’s stock worth $3,127,000 after purchasing an additional 51,655 shares in the last quarter. Finally, Penn Mutual Asset Management bought a new position in Immersion in the 3rd quarter worth about $285,000. Institutional investors own 60.57% of the company’s stock.

Analysts Set New Price Targets

IMMR has been the topic of several analyst reports. Craig Hallum decreased their price target on Immersion from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. BWS Financial reaffirmed a “buy” rating and set a $13.50 target price on shares of Immersion in a report on Thursday, March 13th.

Immersion Price Performance

NASDAQ:IMMR opened at $7.82 on Tuesday. The firm has a market capitalization of $253.34 million, a price-to-earnings ratio of 2.79 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. The stock has a fifty day moving average of $8.19 and a 200 day moving average of $8.55. Immersion Co. has a 52-week low of $7.06 and a 52-week high of $13.94.

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

Immersion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 14th will be issued a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Monday, April 14th. Immersion’s payout ratio is 6.47%.

Insider Activity

In other Immersion news, insider William C. Martin purchased 27,150 shares of Immersion stock in a transaction on Thursday, March 20th. The shares were acquired at an average cost of $7.55 per share, for a total transaction of $204,982.50. Following the completion of the transaction, the insider now directly owns 1,450,693 shares of the company’s stock, valued at approximately $10,952,732.15. The trade was a 1.91 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Toro 18 Holdings Llc acquired 59,146 shares of the stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of $8.49 per share, with a total value of $502,149.54. Following the completion of the acquisition, the director now owns 11,065,848 shares in the company, valued at approximately $93,949,049.52. The trade was a 0.54 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 128,934 shares of company stock worth $1,027,343. 5.50% of the stock is currently owned by corporate insiders.

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.