Immersion (NASDAQ:IMMR) Shares Cross Below 200 Day Moving Average – Should You Sell?

Immersion Corporation (NASDAQ:IMMR)’s stock price passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $6.71 and traded as low as $6.62. Immersion shares last traded at $6.67, with a volume of 831,344 shares.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IMMR. BWS Financial reiterated a “buy” rating and set a $13.50 price objective on shares of Immersion in a research note on Tuesday, July 28th. Wall Street Zen raised shares of Immersion from a “sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings upgraded shares of Immersion from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, September 16th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $13.50.

Immersion Stock Performance

The company has a market capitalization of $225.50 million, a P/E ratio of 19.97 and a beta of 0.96. The stock’s fifty day moving average price is $7.27 and its 200-day moving average price is $6.71. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.16 and a current ratio of 2.14.

Immersion (NASDAQ:IMMR) last posted its quarterly earnings results on Monday, September 14th. The software maker reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.11. The business had revenue of $294.40 million during the quarter, compared to analysts’ expectations of $3.43 million. Immersion had a return on equity of 1.83% and a net margin of 0.60%. As a group, research analysts anticipate that Immersion Corporation will post 0.26 EPS for the current fiscal year.

Immersion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Friday, October 16th were issued a dividend of $0.0750 per share. The ex-dividend date of this dividend was Friday, October 16th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.4%. Immersion’s payout ratio is presently 88.24%.

Insiders Place Their Bets

In other Immersion news, insider Toro 18 Holdings Llc sold 105,541 shares of Immersion stock in a transaction on Friday, September 11th. The shares were sold at an average price of $4.63, for a total transaction of $488,654.83. Following the completion of the transaction, the insider directly owned 1,101,832 shares of the company’s stock, valued at $5,101,482.16. The trade was a 8.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eric Singer acquired 41,000 shares of the firm’s stock in a transaction on Wednesday, October 7th. The stock was bought at an average price of $7.14 per share, for a total transaction of $292,740.00. Following the completion of the acquisition, the chief executive officer owned 2,230,664 shares of the company’s stock, valued at approximately $15,926,940.96. The trade was a 1.87% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders sold 442,815 shares of company stock worth $2,201,304. 10.60% of the stock is owned by company insiders.

Institutional Trading of Immersion

A number of hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its holdings in shares of Immersion by 9.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 19,772 shares of the software maker’s stock worth $143,000 after buying an additional 1,637 shares during the period. First Trust Advisors LP raised its holdings in Immersion by 2.1% in the 1st quarter. First Trust Advisors LP now owns 87,899 shares of the software maker’s stock valued at $480,000 after acquiring an additional 1,819 shares during the period. GAMMA Investing LLC lifted its position in Immersion by 134.4% during the third quarter. GAMMA Investing LLC now owns 3,834 shares of the software maker’s stock worth $28,000 after acquiring an additional 2,198 shares during the last quarter. Caitlin John LLC acquired a new stake in Immersion during the second quarter worth approximately $27,000. Finally, Strs Ohio bought a new stake in shares of Immersion during the first quarter worth approximately $27,000. Institutional investors and hedge funds own 60.57% of the company’s stock.

Immersion Company Profile

Immersion Corporation (NASDAQ:IMMR) develops and licenses haptic technology, which enables electronic devices to communicate information through touch and vibration. Its technologies are designed to make digital interactions more intuitive and immersive by providing tactile feedback in response to user actions.

The company’s products and intellectual property are used in a range of applications, including smartphones, gaming systems and controllers, automotive interfaces, consumer electronics, and other specialized devices.