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

Principal Financial Group Inc. decreased its position in shares of Immersion Co. (NASDAQ:IMMR) by 13.4% during the third quarter, according to its most recent disclosure with the Securities & 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. owned approximately 0.15% of Immersion worth $443,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in IMMR. The Manufacturers Life Insurance Company boosted its holdings in Immersion by 10.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,315 shares of the software maker’s stock valued at $116,000 after acquiring an additional 1,139 shares during the period. Rhumbline Advisers lifted its position in Immersion by 2.7% in the second quarter. Rhumbline Advisers now owns 50,670 shares of the software maker’s stock valued at $477,000 after purchasing an additional 1,322 shares during the last quarter. Hanseatic Management Services Inc. boosted its stake in shares of Immersion by 2.6% during the third quarter. Hanseatic Management Services Inc. now owns 54,679 shares of the software maker’s stock valued at $488,000 after purchasing an additional 1,411 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Immersion by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 86,910 shares of the software maker’s stock worth $775,000 after purchasing an additional 2,416 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of Immersion in the second quarter worth $26,000. 60.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Immersion Stock Performance

Shares of IMMR opened at $8.97 on Monday. Immersion Co. has a one year low of $6.54 and a one year high of $13.94. The company has a 50-day simple moving average of $8.83 and a two-hundred day simple moving average of $9.45. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.55 and a quick ratio of 0.72. The firm has a market capitalization of $289.52 million, a PE ratio of 4.38 and a beta of 1.50.

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

Immersion Dividend Announcement

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

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.