Sanctuary Advisors LLC Buys Shares of 83,373 Immersion Co. (NASDAQ:IMMR)

Sanctuary Advisors LLC acquired a new stake in shares of Immersion Co. (NASDAQ:IMMR) in the third quarter, HoldingsChannel reports. The institutional investor acquired 83,373 shares of the software maker’s stock, valued at approximately $740,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its stake in Immersion by 10.2% during the second quarter. The Manufacturers Life Insurance Company now owns 12,315 shares of the software maker’s stock valued at $116,000 after acquiring an additional 1,139 shares in the last quarter. Rhumbline Advisers boosted its stake in Immersion by 2.7% during the second quarter. Rhumbline Advisers now owns 50,670 shares of the software maker’s stock worth $477,000 after buying an additional 1,322 shares during the period. Hanseatic Management Services Inc. grew its holdings in Immersion by 2.6% during the 3rd quarter. Hanseatic Management Services Inc. now owns 54,679 shares of the software maker’s stock valued at $488,000 after purchasing an additional 1,411 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Immersion by 2.9% during the third 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 during the last quarter. Finally, Quarry LP purchased a new stake in Immersion in the second quarter worth $26,000. 60.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. StockNews.com raised shares of Immersion from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. BWS Financial reissued a “buy” rating and set a $13.50 target price on shares of Immersion in a research report on Wednesday, December 18th.

Immersion Price Performance

Shares of IMMR opened at $8.68 on Tuesday. 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 company’s fifty day moving average price is $8.75 and its 200-day moving average price is $9.55. The firm has a market capitalization of $280.16 million, a PE ratio of 4.23 and a beta of 1.51. Immersion Co. has a 1-year low of $6.54 and a 1-year high of $13.94.

Immersion (NASDAQ:IMMR) last issued its earnings results on Monday, December 16th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.68. Immersion had a net margin of 40.62% and a return on equity of 27.05%. On average, equities research analysts predict that Immersion Co. will post 1.96 EPS for the current year.

Immersion Dividend Announcement

The company also recently declared 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 dividend payout ratio is presently 6.43%.

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.