Immersion Co. (NASDAQ:IMMR) Short Interest Update

Immersion Co. (NASDAQ:IMMR) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 1,110,000 shares, a decline of 15.9% from the August 15th total of 1,320,000 shares. Based on an average daily trading volume, of 457,500 shares, the short-interest ratio is currently 2.4 days. Currently, 3.7% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Immersion in a research note on Thursday, August 17th. They issued a “buy” rating on the stock.

Immersion Trading Up 1.0 %

NASDAQ:IMMR traded up $0.07 during mid-day trading on Tuesday, hitting $6.79. 235,069 shares of the company’s stock traded hands, compared to its average volume of 434,107. The firm has a 50 day moving average of $7.00 and a two-hundred day moving average of $7.34. Immersion has a 12 month low of $4.85 and a 12 month high of $9.25. The firm has a market capitalization of $218.91 million, a price-to-earnings ratio of 5.26 and a beta of 1.44.

Immersion (NASDAQ:IMMR) last announced its earnings results on Friday, August 11th. The software maker reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.05. Immersion had a return on equity of 23.88% and a net margin of 114.74%. The firm had revenue of $6.98 million during the quarter, compared to the consensus estimate of $8.02 million. As a group, equities research analysts expect that Immersion will post 0.75 earnings per share for the current year.

Immersion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Monday, October 16th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Friday, October 13th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.77%. Immersion’s payout ratio is presently 9.30%.

Hedge Funds Weigh In On Immersion

A number of hedge funds have recently modified their holdings of the stock. Millennium Management LLC grew its position in Immersion by 2,275.3% during the 4th quarter. Millennium Management LLC now owns 1,188,795 shares of the software maker’s stock worth $8,357,000 after acquiring an additional 1,138,746 shares during the last quarter. LSV Asset Management boosted its position in Immersion by 254.1% in the 2nd quarter. LSV Asset Management now owns 1,400,079 shares of the software maker’s stock valued at $9,913,000 after buying an additional 1,004,644 shares during the last quarter. BlackRock Inc. boosted its position in shares of Immersion by 160.3% in the 2nd quarter. BlackRock Inc. now owns 1,560,207 shares of the software maker’s stock worth $11,046,000 after purchasing an additional 960,795 shares during the last quarter. State Street Corp boosted its position in shares of Immersion by 233.7% in the 2nd quarter. State Street Corp now owns 991,938 shares of the software maker’s stock worth $7,023,000 after purchasing an additional 694,689 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Immersion by 427.6% in the 1st quarter. Acadian Asset Management LLC now owns 709,796 shares of the software maker’s stock worth $6,344,000 after purchasing an additional 575,263 shares during the last quarter. 58.69% of the stock is owned by institutional investors and hedge funds.

About Immersion

Immersion Corporation, together with its subsidiaries, creates, designs, develop, and licenses 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.