Immersion Co. (NASDAQ:IMMR - Get Free Report) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 3,390,000 shares, a drop of 7.1% from the October 15th total of 3,650,000 shares. Based on an average daily volume of 838,200 shares, the days-to-cover ratio is presently 4.0 days. Currently, 11.9% of the company's stock are short sold.
In related news, insider William C. Martin bought 15,000 shares of the firm's stock in a transaction on Tuesday, August 27th. The stock was acquired at an average cost of $8.81 per share, for a total transaction of $132,150.00. Following the purchase, the insider now owns 1,364,265 shares in the company, valued at approximately $12,019,174.65. This represents a 1.11 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric Singer acquired 50,000 shares of the business's stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average cost of $8.77 per share, with a total value of $438,500.00. Following the acquisition, the chief executive officer now directly owns 1,912,867 shares of the company's stock, valued at $16,775,843.59. This trade represents a 2.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 66,155 shares of company stock worth $580,675. 5.50% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Quarry LP purchased a new position in Immersion in the 2nd quarter worth approximately $26,000. Copeland Capital Management LLC purchased a new position in shares of Immersion in the third quarter worth $59,000. CWM LLC boosted its position in shares of Immersion by 160.3% during the second quarter. CWM LLC now owns 6,487 shares of the software maker's stock worth $61,000 after acquiring an additional 3,995 shares during the last quarter. Lazard Asset Management LLC purchased a new position in Immersion during the first quarter valued at $72,000. Finally, Quantbot Technologies LP bought a new stake in Immersion in the 3rd quarter valued at $78,000. 60.57% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on the stock. BWS Financial upped their price target on shares of Immersion from $11.00 to $13.50 and gave the company a "buy" rating in a research report on Monday, August 26th. StockNews.com upgraded shares of Immersion from a "hold" rating to a "buy" rating in a research report on Thursday, August 29th.
Get Our Latest Stock Report on IMMR
NASDAQ IMMR opened at $8.47 on Monday. Immersion has a 52 week low of $6.18 and a 52 week high of $13.94. The company has a quick ratio of 0.72, a current ratio of 1.55 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $273.41 million, a P/E ratio of 4.13 and a beta of 1.48. The stock's 50-day moving average price is $8.64 and its 200-day moving average price is $9.58.
Immersion (NASDAQ:IMMR - Get Free Report) last released its earnings results on Monday, August 19th. The software maker reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.55. The company had revenue of $99.42 million for the quarter, compared to analysts' expectations of $7.29 million. Immersion had a net margin of 40.62% and a return on equity of 27.05%. On average, equities research analysts predict that Immersion will post 1.96 earnings per share for the current year.
The firm also recently declared a None dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be issued a dividend of $0.245 per share. The ex-dividend date of this dividend is Friday, January 10th. Immersion's dividend payout ratio is presently 8.78%.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Immersion, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Immersion wasn't on the list.
While Immersion currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.