Immersion Co. (NASDAQ:IMMR) Short Interest Update

Immersion Co. (NASDAQ:IMMR) was the target of a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 3,140,000 shares, a drop of 8.2% from the November 15th total of 3,420,000 shares. Currently, 10.9% of the company’s stock are short sold. Based on an average daily volume of 605,500 shares, the short-interest ratio is presently 5.2 days.

Hedge Funds Weigh In On Immersion

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP bought a new position in Immersion during the second quarter valued at approximately $26,000. Copeland Capital Management LLC bought a new position in shares of Immersion during the 3rd quarter valued at approximately $59,000. CWM LLC grew its holdings in shares of Immersion by 160.3% in the second quarter. CWM LLC now owns 6,487 shares of the software maker’s stock valued at $61,000 after purchasing an additional 3,995 shares in the last quarter. Quantbot Technologies LP bought a new stake in Immersion in the third quarter worth $78,000. Finally, Caprock Group LLC bought a new stake in Immersion in the second quarter worth $107,000. Institutional investors own 60.57% of the company’s stock.

Immersion Stock Up 0.4 %

IMMR opened at $9.15 on Monday. The stock has a market cap of $295.33 million, a price-to-earnings ratio of 4.46 and a beta of 1.51. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.72 and a current ratio of 1.55. The firm’s fifty day moving average is $8.67 and its 200 day moving average is $9.59. Immersion has a fifty-two week low of $6.54 and a fifty-two week high of $13.94.

Immersion Announces Dividend

The business also recently disclosed a None dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be issued a dividend of $0.245 per share. The ex-dividend date is Friday, January 10th. Immersion’s dividend payout ratio (DPR) is currently 8.78%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IMMR. BWS Financial boosted their price objective on shares of Immersion from $11.00 to $13.50 and gave the company a “buy” rating in a report on Monday, August 26th. StockNews.com raised Immersion from a “hold” rating to a “buy” rating in a report on Thursday, August 29th.

About Immersion

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.