Gallacher Capital Management LLC Acquires New Holdings in Immersion Co. (NASDAQ:IMMR)

Gallacher Capital Management LLC bought a new position in shares of Immersion Co. (NASDAQ:IMMR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 59,481 shares of the software maker’s stock, valued at approximately $420,000. Gallacher Capital Management LLC owned approximately 0.19% of Immersion as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in shares of Immersion in the third quarter valued at $41,000. SG Americas Securities LLC purchased a new stake in shares of Immersion during the 3rd quarter valued at $93,000. Brandywine Global Investment Management LLC acquired a new stake in Immersion during the third quarter worth about $98,000. Teza Capital Management LLC purchased a new position in Immersion in the third quarter valued at approximately $142,000. Finally, Hennion & Walsh Asset Management Inc. boosted its position in shares of Immersion by 20.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 22,109 shares of the software maker’s stock worth $146,000 after buying an additional 3,790 shares during the period. Hedge funds and other institutional investors own 60.57% of the company’s stock.

Insider Buying and Selling

In other Immersion news, Director Elias Nader sold 13,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $8.22, for a total transaction of $106,860.00. Following the completion of the transaction, the director now owns 29,266 shares in the company, valued at approximately $240,566.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

IMMR has been the subject of a number of analyst reports. BWS Financial reissued a “buy” rating and issued a $11.00 price objective on shares of Immersion in a research report on Thursday, April 18th. StockNews.com raised Immersion from a “hold” rating to a “buy” rating in a research report on Friday, March 8th.

Immersion Stock Performance

Shares of IMMR stock traded up $0.11 during trading hours on Monday, hitting $7.33. 322,341 shares of the company were exchanged, compared to its average volume of 493,249. The stock has a market capitalization of $232.36 million, a price-to-earnings ratio of 7.01 and a beta of 1.46. Immersion Co. has a one year low of $5.94 and a one year high of $8.62. The business’s 50-day simple moving average is $7.30 and its two-hundred day simple moving average is $6.96.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings results on Thursday, March 7th. The software maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.30. The business had revenue of $10.38 million during the quarter, compared to the consensus estimate of $9.25 million. Immersion had a return on equity of 19.75% and a net margin of 100.17%. As a group, analysts anticipate that Immersion Co. will post 1.14 EPS for the current fiscal year.

Immersion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 12th were issued a $0.045 dividend. This represents a $0.18 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Thursday, April 11th. Immersion’s dividend payout ratio (DPR) is 17.48%.

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.