Kanen Wealth Management LLC Acquires 275,000 Shares of Immersion Co. (NASDAQ:IMMR)

Kanen Wealth Management LLC lifted its holdings in shares of Immersion Co. (NASDAQ:IMMR - Free Report) by 84.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 investment portfolio, making the stock its 11th largest holding. Kanen Wealth Management LLC owned 1.86% of Immersion worth $5,238,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in IMMR. The Manufacturers Life Insurance Company lifted its position in shares of 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 buying an additional 1,139 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Immersion by 2.7% during the 2nd quarter. Rhumbline Advisers now owns 50,670 shares of the software maker's stock valued at $477,000 after buying an additional 1,322 shares in the last quarter. Hanseatic Management Services Inc. boosted its holdings in Immersion by 2.6% in the 3rd quarter. Hanseatic Management Services Inc. now owns 54,679 shares of the software maker's stock worth $488,000 after buying an additional 1,411 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Immersion by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 86,910 shares of the software maker's stock valued at $775,000 after buying an additional 2,416 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Immersion in the second quarter worth $26,000. Institutional investors own 60.57% of the company's stock.

Analyst Upgrades and Downgrades

Separately, BWS Financial reissued a "buy" rating and set a $13.50 price objective on shares of Immersion in a report on Wednesday, December 18th.

Immersion Price Performance

NASDAQ IMMR traded up $0.08 on Monday, hitting $8.63. The stock had a trading volume of 333,563 shares, compared to its average volume of 1,050,146. The firm has a 50-day moving average of $8.84 and a 200-day moving average of $9.38. The company has a market capitalization of $278.58 million, a price-to-earnings ratio of 3.08 and a beta of 1.50. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.94 and a current ratio of 1.65. Immersion Co. has a 52-week low of $6.54 and a 52-week high of $13.94.

Immersion (NASDAQ:IMMR - Get Free Report) last issued its quarterly 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 net margin of 11.79% and a return on equity of 28.08%. Equities analysts expect that Immersion Co. will post 1.57 EPS for the current year.

Immersion Dividend Announcement

The company 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 presently 6.43%.

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.