Kanen Wealth Management LLC Boosts Stock Position in Immersion Co. (NASDAQ:IMMR)

Kanen Wealth Management LLC grew its holdings in Immersion Co. (NASDAQ:IMMR) by 84.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 600,000 shares of the software maker’s stock after purchasing an additional 275,000 shares during the period. Immersion comprises approximately 1.9% of Kanen Wealth Management LLC’s holdings, making the stock its 11th largest holding. Kanen Wealth Management LLC owned approximately 1.86% of Immersion worth $5,238,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in IMMR. Quarry LP bought a new stake in Immersion during the 2nd quarter valued at $26,000. Copeland Capital Management LLC bought a new stake in shares of Immersion in the third quarter valued at about $59,000. Quantbot Technologies LP purchased a new stake in Immersion in the third quarter worth about $78,000. Magnetar Financial LLC purchased a new stake in Immersion in the second quarter worth about $113,000. Finally, The Manufacturers Life Insurance Company increased its position 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 purchasing an additional 1,139 shares during the period. 60.57% of the stock is currently owned by institutional investors.

Immersion Trading Up 0.9 %

Shares of NASDAQ:IMMR opened at $8.63 on Monday. 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 $278.58 million, a PE ratio of 3.08 and a beta of 1.50. Immersion Co. has a 12-month low of $6.54 and a 12-month high of $13.94. The business’s fifty day simple moving average is $8.84 and its 200-day simple moving average is $9.38.

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

Immersion Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Immersion 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.