Principal Financial Group Inc. Sells 7,704 Shares of Immersion Co. (NASDAQ:IMMR)

Principal Financial Group Inc. lessened its holdings in shares of Immersion Co. (NASDAQ:IMMR) by 13.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,636 shares of the software maker’s stock after selling 7,704 shares during the quarter. Principal Financial Group Inc.’s holdings in Immersion were worth $443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of IMMR. Renaissance Technologies LLC lifted its position in shares of Immersion by 43.3% during the 2nd quarter. Renaissance Technologies LLC now owns 498,213 shares of the software maker’s stock valued at $4,688,000 after buying an additional 150,513 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in Immersion during the third quarter valued at approximately $3,113,000. Los Angeles Capital Management LLC lifted its holdings in Immersion by 151.3% during the second quarter. Los Angeles Capital Management LLC now owns 209,675 shares of the software maker’s stock valued at $1,973,000 after purchasing an additional 126,247 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Immersion by 226.9% in the second quarter. Marshall Wace LLP now owns 178,859 shares of the software maker’s stock worth $1,683,000 after purchasing an additional 124,143 shares during the period. Finally, MorganRosel Wealth Management LLC purchased a new stake in shares of Immersion in the third quarter worth $1,063,000. Institutional investors own 60.57% of the company’s stock.

Immersion Stock Up 3.6 %

Shares of NASDAQ IMMR opened at $8.97 on Monday. The company has a current ratio of 1.55, a quick ratio of 0.72 and a debt-to-equity ratio of 0.44. Immersion Co. has a 12-month low of $6.54 and a 12-month high of $13.94. The firm’s 50-day moving average price is $8.83 and its 200-day moving average price is $9.45. The stock has a market capitalization of $289.52 million, a price-to-earnings ratio of 4.38 and a beta of 1.50.

Immersion (NASDAQ:IMMR) last posted its quarterly earnings data on Monday, December 16th. The software maker reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.68. Immersion had a net margin of 40.62% and a return on equity of 27.05%. On average, equities research analysts anticipate that Immersion Co. will post 1.96 EPS for the current fiscal year.

Immersion Announces Dividend

The company also recently announced a None dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be issued a $0.245 dividend. The ex-dividend date is Friday, January 10th. Immersion’s dividend payout ratio is 6.43%.

Wall Street Analyst Weigh In

Separately, BWS Financial reiterated a “buy” rating and set a $13.50 target price on shares of Immersion in a research report on Wednesday, December 18th.

About Immersion

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.