Gallacher Capital Management LLC Has $103,000 Stock Position in Immersion Co. (NASDAQ:IMMR)

Gallacher Capital Management LLC cut its position in Immersion Co. (NASDAQ:IMMR) by 82.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,914 shares of the software maker’s stock after selling 51,027 shares during the period. Gallacher Capital Management LLC’s holdings in Immersion were worth $103,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in Immersion by 4.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,120 shares of the software maker’s stock valued at $218,000 after acquiring an additional 1,140 shares during the period. Rhumbline Advisers grew its position in Immersion by 2.7% in the 2nd quarter. Rhumbline Advisers now owns 50,670 shares of the software maker’s stock valued at $477,000 after purchasing an additional 1,322 shares during the period. SummerHaven Investment Management LLC increased its stake in Immersion by 1.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 104,805 shares of the software maker’s stock valued at $986,000 after purchasing an additional 1,512 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its holdings in Immersion by 1.7% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 104,834 shares of the software maker’s stock worth $740,000 after buying an additional 1,757 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Immersion by 160.3% in the second quarter. CWM LLC now owns 6,487 shares of the software maker’s stock valued at $61,000 after buying an additional 3,995 shares in the last quarter. 60.57% of the stock is owned by institutional investors.

Insider Activity at Immersion

In other Immersion news, CEO Eric Singer acquired 50,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were acquired at an average price of $8.77 per share, with a total value of $438,500.00. Following the completion of the transaction, the chief executive officer now owns 1,912,867 shares in the company, valued at $16,775,843.59. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Eric Singer acquired 50,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were acquired at an average price of $8.77 per share, with a total value of $438,500.00. Following the completion of the transaction, the chief executive officer now owns 1,912,867 shares in the company, valued at approximately $16,775,843.59. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider William C. Martin bought 15,000 shares of Immersion stock in a transaction dated Tuesday, August 27th. The shares were bought at an average cost of $8.81 per share, with a total value of $132,150.00. Following the completion of the transaction, the insider now directly owns 1,364,265 shares in the company, valued at $12,019,174.65. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 66,155 shares of company stock valued at $580,675. 5.50% of the stock is owned by insiders.

Immersion Price Performance

Shares of NASDAQ:IMMR opened at $8.97 on Tuesday. Immersion Co. has a 1-year low of $5.94 and a 1-year high of $13.94. The company has a current ratio of 1.55, a quick ratio of 0.72 and a debt-to-equity ratio of 0.44. The stock has a market cap of $288.65 million, a PE ratio of 6.55 and a beta of 1.49. The stock’s fifty day simple moving average is $10.58 and its two-hundred day simple moving average is $9.12.

Immersion (NASDAQ:IMMR) last released its quarterly earnings results on Monday, August 19th. The software maker reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.55. Immersion had a net margin of 40.62% and a return on equity of 27.05%. The company had revenue of $99.42 million for the quarter, compared to analyst estimates of $7.29 million. As a group, analysts forecast that Immersion Co. will post 1.96 EPS for the current fiscal year.

Immersion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, October 4th will be issued a $0.045 dividend. This represents a $0.18 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Friday, October 4th. Immersion’s dividend payout ratio is presently 13.14%.

Analysts Set New Price Targets

A number of research firms recently weighed in on IMMR. BWS Financial upped their target price on shares of Immersion from $11.00 to $13.50 and gave the stock a “buy” rating in a report on Monday, August 26th. StockNews.com raised Immersion from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th.

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.