2024-05-08 07:47:01 ET
Summary
- Immersion has a new CEO, Eric Singer, who is focused on unlocking value for shareholders.
- Eric Singer is the founder of VIEX Capital Advisors and has a long track record of implementing shareholder friendly policies.
- IMMR's 34% stake in Barnes & Noble Education is transforming the company.
- With a current dividend yield of 2.4% and a discount to the underlying value of the company, an investment today provides a great entry point.
Immersion
Immersion Corporation ( IMMR ) is not a new company to the Seeking Alpha community and is one I'm sure a lot of value investors have seen pop up on their screener over the years, I know I have. The company is statistically cheap, yes, but that's not new and that point has been well articulated by others in the past. Being statistically cheap is not enough to warrant a higher value, in my opinion, investors need a catalyst that will unlock value. I think we have finally reached that point as investors finally have a very capable investor in the CEO role who understands how to unlock value for shareholders. This occurred when Eric Singer took over the CEO job in January 2023 . Under his guidance, the company has undergone significant changes with respect to capital allocation policies and the company is now much more shareholder aligned....
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Immersion: An Able Capital Allocator Is Leading A Transformation