Russell Investments Group Ltd. Purchases 54,491 Shares of Immersion Co. (NASDAQ:IMMR)

Russell Investments Group Ltd. increased its position in shares of Immersion Co. (NASDAQ:IMMR – Get Rating) by 38.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 195,750 shares of the software maker’s stock after buying an additional 54,491 shares during the period. Russell Investments Group Ltd. owned 0.58% of Immersion worth $1,376,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bank of New York Mellon Corp increased its position in shares of Immersion by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 179,484 shares of the software maker’s stock worth $985,000 after purchasing an additional 1,946 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Immersion by 11.6% in the 3rd quarter. ProShare Advisors LLC now owns 19,186 shares of the software maker’s stock valued at $105,000 after purchasing an additional 2,000 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Immersion by 2.9% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 96,103 shares of the software maker’s stock valued at $676,000 after purchasing an additional 2,668 shares during the last quarter. State Street Corp boosted its stake in Immersion by 2.4% during the 3rd quarter. State Street Corp now owns 367,613 shares of the software maker’s stock worth $2,018,000 after acquiring an additional 8,643 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Immersion by 12.0% in the second quarter. Northern Trust Corp now owns 81,561 shares of the software maker’s stock valued at $436,000 after buying an additional 8,712 shares in the last quarter. 43.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on IMMR. BWS Financial began coverage on shares of Immersion in a research note on Monday, February 6th. They issued a “buy” rating and a $11.00 price target on the stock. StockNews.com assumed coverage on shares of Immersion in a report on Thursday, May 18th. They issued a “buy” rating on the stock.

Immersion Price Performance

NASDAQ:IMMR opened at $7.10 on Thursday. Immersion Co. has a one year low of $4.85 and a one year high of $9.25. The company has a market cap of $231.67 million, a P/E ratio of 6.89 and a beta of 1.46. The firm’s fifty day moving average price is $7.64 and its two-hundred day moving average price is $7.43.

Immersion (NASDAQ:IMMR – Get Rating) last announced its earnings results on Wednesday, February 22nd. The software maker reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.35. Immersion had a net margin of 88.59% and a return on equity of 19.33%. The company had revenue of $9.16 million during the quarter, compared to analysts’ expectations of $8.46 million. As a group, equities research analysts expect that Immersion Co. will post 0.86 earnings per share for the current year.

Immersion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Thursday, July 13th will be issued a $0.03 dividend. The ex-dividend date is Wednesday, July 12th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.69%. Immersion’s dividend payout ratio (DPR) is currently 11.65%.

About Immersion

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Immersion Corp. engages in the creation, design, development and licensing of patented haptic innovations and software. The firm offers touch sense platform and design services. It focuses on the following target application areas: mobile devices, wearable, consumer, mobile entertainment and other content, console gaming, automotive, medical, and commercial.