Penn Mutual Asset Management Acquires Shares of 32,000 Immersion Co. (NASDAQ:IMMR)

Penn Mutual Asset Management acquired a new position in Immersion Co. (NASDAQ:IMMR) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 32,000 shares of the software maker’s stock, valued at approximately $285,000. Penn Mutual Asset Management owned approximately 0.10% of Immersion as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in IMMR. Price T Rowe Associates Inc. MD increased its stake in shares of Immersion by 4.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,120 shares of the software maker’s stock valued at $218,000 after purchasing an additional 1,140 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Immersion by 43.3% in the second quarter. Renaissance Technologies LLC now owns 498,213 shares of the software maker’s stock worth $4,688,000 after purchasing an additional 150,513 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in Immersion during the 3rd quarter worth $3,113,000. Vanguard Group Inc. lifted its holdings in Immersion by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 1,892,282 shares of the software maker’s stock worth $14,154,000 after buying an additional 16,287 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in shares of Immersion by 151.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 209,675 shares of the software maker’s stock valued at $1,973,000 after buying an additional 126,247 shares during the last quarter. Institutional investors and hedge funds own 60.57% of the company’s stock.

Analysts Set New Price Targets

IMMR has been the topic of a number of recent analyst reports. BWS Financial lifted their price objective on Immersion from $11.00 to $13.50 and gave the stock a “buy” rating in a research note on Monday, August 26th. StockNews.com raised shares of Immersion from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th.

Immersion Stock Up 1.2 %

Shares of NASDAQ:IMMR opened at $9.02 on Wednesday. Immersion Co. has a 1 year low of $6.43 and a 1 year high of $13.94. 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 business’s 50-day moving average is $8.62 and its 200-day moving average is $9.63. The company has a market capitalization of $291.17 million, a price-to-earnings ratio of 4.40 and a beta of 1.51.

Immersion Announces Dividend

The business also recently disclosed a None dividend, which will be paid on Friday, January 24th. Stockholders 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 dividend payout ratio (DPR) is 8.78%.

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.