SummerHaven Investment Management LLC Has $720,000 Stock Holdings in Immersion Co. (NASDAQ:IMMR)

SummerHaven Investment Management LLC raised its position in Immersion Co. (NASDAQ:IMMR) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 101,922 shares of the software maker’s stock after acquiring an additional 1,605 shares during the period. SummerHaven Investment Management LLC owned about 0.32% of Immersion worth $720,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of IMMR. Copeland Capital Management LLC acquired a new position in shares of Immersion in the third quarter valued at $29,000. Quantbot Technologies LP acquired a new position in shares of Immersion in the 3rd quarter valued at $41,000. SG Americas Securities LLC bought a new position in shares of Immersion during the 3rd quarter worth about $93,000. Brandywine Global Investment Management LLC acquired a new stake in shares of Immersion during the 3rd quarter valued at about $98,000. Finally, Teza Capital Management LLC bought a new stake in Immersion in the third quarter valued at about $142,000. Institutional investors own 60.57% of the company’s stock.

Insider Activity at Immersion

In other Immersion news, Director Elias Nader sold 13,000 shares of Immersion stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $8.22, for a total value of $106,860.00. Following the completion of the transaction, the director now owns 29,266 shares in the company, valued at approximately $240,566.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.50% of the company’s stock.

Immersion Stock Performance

Shares of NASDAQ:IMMR opened at $7.25 on Tuesday. The company’s fifty day moving average is $7.27 and its 200-day moving average is $6.95. Immersion Co. has a 52 week low of $5.94 and a 52 week high of $8.62. The company has a market capitalization of $229.83 million, a PE ratio of 7.04 and a beta of 1.49.

Immersion (NASDAQ:IMMR) last released its quarterly earnings results on Thursday, March 7th. The software maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.30. The firm had revenue of $10.38 million for the quarter, compared to analyst estimates of $9.25 million. Immersion had a net margin of 100.17% and a return on equity of 19.75%. On average, analysts forecast that Immersion Co. will post 1.14 EPS for the current year.

Immersion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 12th were given a dividend of $0.045 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $0.18 dividend on an annualized basis and a yield of 2.48%. Immersion’s dividend payout ratio (DPR) is presently 17.48%.

Analysts Set New Price Targets

A number of brokerages have commented on IMMR. StockNews.com upgraded shares of Immersion from a “hold” rating to a “buy” rating in a research note on Friday, March 8th. BWS Financial restated a “buy” rating and set a $11.00 target price on shares of Immersion in a research report on Thursday, April 18th.

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.