Proficio Capital Partners LLC Invests $98,000 in Immersion Co. (NASDAQ:IMMR)

Proficio Capital Partners LLC purchased a new position in shares of Immersion Co. (NASDAQ:IMMR) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 11,262 shares of the software maker’s stock, valued at approximately $98,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in IMMR. Charles Schwab Investment Management Inc. raised its stake in Immersion by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 86,910 shares of the software maker’s stock valued at $775,000 after buying an additional 2,416 shares during the period. D.A. Davidson & CO. bought a new stake in Immersion during the third quarter worth about $235,000. Quantbot Technologies LP acquired a new position in shares of Immersion in the 3rd quarter valued at approximately $78,000. FMR LLC lifted its stake in 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 last quarter. Finally, Paloma Partners Management Co bought a new position in shares of Immersion in the 3rd quarter valued at $224,000. Institutional investors own 60.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on IMMR shares. BWS Financial restated a “buy” rating and set a $13.50 price objective on shares of Immersion in a research report on Thursday, March 13th. Craig Hallum decreased 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.

Insider Buying and Selling at Immersion

In other Immersion news, CEO Eric Singer acquired 42,638 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were acquired at an average price of $7.51 per share, with a total value of $320,211.38. Following the completion of the transaction, the chief executive officer now owns 2,161,866 shares in the company, valued at approximately $16,235,613.66. This trade represents a 2.01 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider William C. Martin purchased 27,150 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were bought at an average price of $7.55 per share, with a total value of $204,982.50. Following the purchase, the insider now owns 1,450,693 shares in the company, valued at $10,952,732.15. The trade was a 1.91 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 128,934 shares of company stock valued at $1,027,343. Corporate insiders own 5.50% of the company’s stock.

Immersion Stock Performance

Immersion stock opened at $7.70 on Friday. The business has a 50 day moving average of $8.14 and a 200-day moving average of $8.53. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.65 and a quick ratio of 0.94. Immersion Co. has a 1 year low of $7.06 and a 1 year high of $13.94. The company has a market capitalization of $249.45 million, a P/E ratio of 2.75 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 analysts’ consensus estimates of $0.14 by $0.33. Immersion had a return on equity of 28.08% and a net margin of 11.79%. The business had revenue of $474.76 million during the quarter, compared to the consensus estimate of $9.45 million. On average, equities research analysts predict that Immersion Co. will post 1.57 earnings per share for the current year.

Immersion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 14th will be paid a $0.045 dividend. The ex-dividend date of this dividend is Monday, April 14th. This represents a $0.18 annualized dividend and a dividend yield of 2.34%. Immersion’s dividend payout ratio is currently 6.47%.

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.