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

Principal Financial Group Inc. lifted its stake in shares of Immersion Co. (NASDAQ:IMMR) by 11.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 55,227 shares of the software maker’s stock after purchasing an additional 5,591 shares during the quarter. Principal Financial Group Inc. owned about 0.17% of Immersion worth $482,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Quantbot Technologies LP acquired a new position in Immersion during the third quarter worth about $78,000. Hennessy Advisors Inc. acquired a new stake in shares of Immersion during the 4th quarter valued at approximately $128,000. Philip James Wealth Mangement LLC purchased a new stake in shares of Immersion during the 3rd quarter worth approximately $164,000. FMR LLC grew its holdings in shares of Immersion by 518.2% in the 3rd quarter. FMR LLC now owns 19,481 shares of the software maker’s stock worth $174,000 after acquiring an additional 16,330 shares during the period. Finally, Banque Cantonale Vaudoise increased its stake in Immersion by 92.1% in the 3rd quarter. Banque Cantonale Vaudoise now owns 22,042 shares of the software maker’s stock valued at $197,000 after purchasing an additional 10,569 shares in the last quarter. Hedge funds and other institutional investors own 60.57% of the company’s stock.

Immersion Stock Performance

NASDAQ:IMMR opened at $7.72 on Friday. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $249.17 million, a P/E ratio of 2.76 and a beta of 1.50. The firm has a 50-day moving average price of $8.48 and a two-hundred day moving average price of $8.70. Immersion Co. has a twelve month low of $6.54 and a twelve month high of $13.94.

Immersion (NASDAQ:IMMR) last released its quarterly earnings results on Monday, December 16th. The software maker reported $0.83 EPS for the quarter, beating the consensus estimate of $0.15 by $0.68. Immersion had a net margin of 11.79% and a return on equity of 28.08%. As a group, research analysts expect that Immersion Co. will post 1.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, BWS Financial reiterated a “buy” rating and set a $13.50 target price on shares of Immersion in a research report on Wednesday, February 5th.

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.