Principal Financial Group Inc. Decreases Stake in Immersion Co. (NASDAQ:IMMR)

Principal Financial Group Inc. lowered its position in shares of Immersion Co. (NASDAQ:IMMR) by 13.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,636 shares of the software maker’s stock after selling 7,704 shares during the period. Principal Financial Group Inc.’s holdings in Immersion were worth $443,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in IMMR. Quarry LP acquired a new position in shares of Immersion in the 2nd quarter valued at $26,000. Copeland Capital Management LLC acquired a new stake in shares of Immersion in the third quarter valued at approximately $59,000. CWM LLC grew its position in shares of Immersion by 160.3% during the second quarter. CWM LLC now owns 6,487 shares of the software maker’s stock worth $61,000 after acquiring an additional 3,995 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Immersion in the 1st quarter valued at $72,000. Finally, Caprock Group LLC purchased a new stake in Immersion in the 2nd quarter valued at $107,000. 60.57% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider William C. Martin bought 15,000 shares of Immersion stock in a transaction that occurred on Tuesday, August 27th. The shares were purchased at an average price of $8.81 per share, for a total transaction of $132,150.00. Following the completion of the acquisition, the insider now owns 1,364,265 shares of the company’s stock, valued at $12,019,174.65. The trade was a 1.11 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric Singer acquired 50,000 shares of Immersion stock in a transaction dated Tuesday, August 27th. The stock was purchased at an average cost of $8.77 per share, for a total transaction of $438,500.00. Following the completion of the purchase, the chief executive officer now directly owns 1,912,867 shares in the company, valued at approximately $16,775,843.59. This represents a 2.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 66,155 shares of company stock valued at $580,675 over the last 90 days. Insiders own 5.50% of the company’s stock.

Immersion Trading Up 2.5 %

Shares of IMMR stock opened at $8.88 on Monday. Immersion Co. has a fifty-two week low of $6.33 and a fifty-two week high of $13.94. The company has a quick ratio of 0.72, a current ratio of 1.55 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $8.60 and a 200-day simple moving average of $9.62. The stock has a market cap of $286.65 million, a P/E ratio of 4.33 and a beta of 1.48.

Immersion Dividend Announcement

The company also recently declared a None dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be issued a dividend of $0.245 per share. The ex-dividend date is Friday, January 10th. Immersion’s dividend payout ratio (DPR) is presently 8.78%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on IMMR shares. StockNews.com upgraded shares of Immersion from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. BWS Financial increased their price objective on Immersion from $11.00 to $13.50 and gave the stock a “buy” rating in a research report on Monday, August 26th.

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.