Immersion Co. (NASDAQ:IMMR) Short Interest Update

Immersion Co. (NASDAQ:IMMR – Get Rating) saw a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 698,400 shares, a drop of 5.6% from the February 13th total of 739,700 shares. Currently, 2.3% of the shares of the company are sold short. Based on an average daily volume of 334,500 shares, the days-to-cover ratio is presently 2.1 days.

Insider Buying and Selling

In related news, CFO Aaron Akerman sold 12,112 shares of the firm’s stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $7.51, for a total value of $90,961.12. Following the transaction, the chief financial officer now directly owns 44,392 shares of the company’s stock, valued at approximately $333,383.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new position in shares of Immersion during the fourth quarter valued at about $54,000. Cetera Advisors LLC purchased a new position in Immersion in the second quarter worth about $56,000. State of Wyoming purchased a new position in Immersion in the fourth quarter worth about $59,000. Hamilton Wealth LLC purchased a new position in Immersion in the third quarter worth about $70,000. Finally, Private Wealth Group LLC purchased a new position in Immersion in the fourth quarter worth about $70,000. Hedge funds and other institutional investors own 43.38% of the company’s stock.

Wall Street Analysts Forecast Growth

IMMR has been the topic of a number of recent analyst reports. TheStreet raised Immersion from a “c+” rating to a “b-” rating in a report on Thursday, December 1st. StockNews.com initiated coverage on Immersion in a report on Thursday. They set a “buy” rating on the stock. Finally, BWS Financial initiated coverage on Immersion in a report on Monday, February 6th. They set a “buy” rating and a $11.00 price target on the stock.

Immersion Stock Up 6.0 %

Shares of Immersion stock opened at $8.26 on Friday. The firm has a market cap of $267.29 million, a price-to-earnings ratio of 8.24 and a beta of 1.43. The business has a 50-day moving average price of $7.42 and a 200-day moving average price of $6.68. Immersion has a twelve month low of $4.28 and a twelve month high of $8.31.

Immersion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Thursday, April 13th will be given a dividend of $0.03 per share. The ex-dividend date is Wednesday, April 12th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.45%. Immersion’s payout ratio is 12.90%.

About Immersion

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Immersion Corp. engages in the creation, design, development and licensing of patented haptic innovations and software. The firm offers touch sense platform and design services. It focuses on the following target application areas: mobile devices, wearable, consumer, mobile entertainment and other content, console gaming, automotive, medical, and commercial.