Los Angeles Capital Management LLC Sells 47,710 Shares of Immersion Co. (NASDAQ:IMMR)

Los Angeles Capital Management LLC lowered its stake in shares of Immersion Co. (NASDAQ:IMMR) by 22.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 161,965 shares of the software maker’s stock after selling 47,710 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Immersion were worth $1,445,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Quarry LP bought a new position in shares of Immersion during the 2nd quarter worth approximately $26,000. Copeland Capital Management LLC bought a new stake in Immersion during the third quarter worth $59,000. CWM LLC grew its stake in Immersion by 160.3% in the 2nd quarter. CWM LLC now owns 6,487 shares of the software maker’s stock valued at $61,000 after purchasing an additional 3,995 shares during the period. Lazard Asset Management LLC bought a new position in Immersion in the 1st quarter valued at $72,000. Finally, Caprock Group LLC bought a new stake in shares of Immersion during the 2nd quarter worth $107,000. 60.57% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Eric Singer bought 50,000 shares of the firm’s stock in a transaction that occurred 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 acquisition, the chief executive officer now owns 1,912,867 shares of the company’s stock, valued at approximately $16,775,843.59. The trade was a 2.68 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William C. Martin purchased 15,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was purchased at an average cost of $8.81 per share, with a total value of $132,150.00. Following the completion of the acquisition, the insider now owns 1,364,265 shares in the company, valued at approximately $12,019,174.65. This trade represents a 1.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 66,155 shares of company stock worth $580,675. 5.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Immersion Stock Up 0.8 %

IMMR stock opened at $8.54 on Friday. The stock has a fifty day moving average of $8.64 and a 200-day moving average of $9.54. Immersion Co. has a fifty-two week low of $6.13 and a fifty-two week high of $13.94. The company has a market capitalization of $275.67 million, a price-to-earnings ratio of 4.17 and a beta of 1.48. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.72 and a current ratio of 1.55.

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

Immersion Dividend Announcement

The business also recently announced a None dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be given a dividend of $0.245 per share. The ex-dividend date of this dividend is Friday, January 10th. Immersion’s dividend payout ratio is currently 8.78%.

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.