Hillsdale Investment Management Inc. Reduces Position in Immersion Co. (NASDAQ:IMMR)

Hillsdale Investment Management Inc. reduced its holdings in Immersion Co. (NASDAQ:IMMR) by 11.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,200 shares of the software maker’s stock after selling 2,000 shares during the period. Hillsdale Investment Management Inc. owned approximately 0.05% of Immersion worth $141,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its position in shares of Immersion by 29,900.0% in the fourth quarter. Farther Finance Advisors LLC now owns 3,000 shares of the software maker’s stock valued at $26,000 after purchasing an additional 2,990 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Immersion during the fourth quarter worth $51,000. AlphaQuest LLC purchased a new stake in Immersion in the 4th quarter valued at $61,000. Quantbot Technologies LP purchased a new stake in Immersion in the 3rd quarter valued at $78,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Immersion in the 4th quarter worth $98,000. 60.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IMMR has been the subject of a number of analyst reports. BWS Financial reissued a “buy” rating and issued a $13.50 price objective on shares of Immersion in a report on Thursday, March 13th. Craig Hallum dropped their price target on shares of Immersion from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, March 13th.

Insiders Place Their Bets

In other Immersion news, Director Toro 18 Holdings Llc bought 59,146 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost of $8.49 per share, with a total value of $502,149.54. Following the purchase, the director now directly owns 11,065,848 shares in the company, valued at approximately $93,949,049.52. This represents a 0.54 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Eric Singer purchased 42,638 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was acquired at an average cost of $7.51 per share, with a total value of $320,211.38. Following the transaction, the chief executive officer now directly owns 2,161,866 shares in the company, valued at $16,235,613.66. This trade represents a 2.01 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 128,934 shares of company stock worth $1,027,343 over the last ninety days. Corporate insiders own 5.50% of the company’s stock.

Immersion Stock Performance

Shares of Immersion stock opened at $7.82 on Tuesday. The business’s fifty day simple moving average is $8.19 and its 200-day simple moving average is $8.55. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.37. The firm has a market cap of $253.34 million, a PE ratio of 2.79 and a beta of 1.55. Immersion Co. has a 52 week low of $7.06 and a 52 week high of $13.94.

Immersion (NASDAQ:IMMR) last announced its earnings results on Wednesday, March 12th. The software maker reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.33. The company had revenue of $474.76 million during the quarter, compared to analyst estimates of $9.45 million. Immersion had a net margin of 11.79% and a return on equity of 28.08%. Equities analysts forecast that Immersion Co. will post 1.57 earnings per share for the current year.

Immersion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 14th will be given a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Monday, April 14th. Immersion’s payout ratio is 6.47%.

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.