Immersion Co. (NASDAQ:IMMR) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC increased its holdings in Immersion Co. (NASDAQ:IMMR) by 43.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 498,213 shares of the software maker’s stock after acquiring an additional 150,513 shares during the quarter. Renaissance Technologies LLC owned approximately 1.56% of Immersion worth $4,688,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of IMMR. Acadian Asset Management LLC acquired a new position in shares of Immersion in the second quarter worth about $3,375,000. GSA Capital Partners LLP acquired a new stake in Immersion during the first quarter valued at approximately $1,285,000. ClariVest Asset Management LLC acquired a new stake in Immersion during the second quarter valued at approximately $1,571,000. Los Angeles Capital Management LLC raised its stake in Immersion by 151.3% during the second quarter. Los Angeles Capital Management LLC now owns 209,675 shares of the software maker’s stock valued at $1,973,000 after buying an additional 126,247 shares in the last quarter. Finally, Koss Olinger Consulting LLC acquired a new stake in Immersion during the second quarter valued at approximately $636,000. Institutional investors and hedge funds own 60.57% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

Several brokerages have issued reports on IMMR. StockNews.com upgraded Immersion from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. BWS Financial upped their target price on Immersion from $11.00 to $13.50 and gave the company a “buy” rating in a report on Monday, August 26th.

Immersion Stock Performance

Shares of NASDAQ IMMR opened at $8.95 on Friday. The stock has a fifty day moving average price of $10.04 and a two-hundred day moving average price of $9.28. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.72 and a current ratio of 1.55. The firm has a market cap of $285.10 million, a P/E ratio of 6.53 and a beta of 1.48. Immersion Co. has a 1 year low of $5.94 and a 1 year high of $13.94.

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

Immersion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, October 4th will be given a dividend of $0.045 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.01%. Immersion’s dividend payout ratio (DPR) is presently 13.14%.

Immersion 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.