Nuveen LLC Acquires New Shares in Immersion Corporation $IMMR

Key Points

• Nuveen LLC has acquired 85,127 shares of Immersion Corporation (NASDAQ:IMMR), valued at approximately $645,000, giving it a 0.26% ownership in the company.
• Immersion recently declared a quarterly dividend of $0.045 per share, which amounts to an annualized yield of 2.6%.
• Despite recent shareholder activity, including a downgrade from "buy" to "hold" by Wall Street Zen, the stock maintains a consensus price target of $12.25 from analysts.

Nuveen LLC bought a new stake in Immersion Corporation (NASDAQ:IMMR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 85,127 shares of the software maker's stock, valued at approximately $645,000. Nuveen LLC owned about 0.26% of Immersion as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of IMMR. Bayesian Capital Management LP acquired a new stake in shares of Immersion during the fourth quarter valued at about $129,000. Skandinaviska Enskilda Banken AB publ increased its position in shares of Immersion by 47.4% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 17,754 shares of the software maker's stock valued at $135,000 after purchasing an additional 5,712 shares during the period. FNY Investment Advisers LLC increased its holdings in shares of Immersion by 12.8% during the first quarter. FNY Investment Advisers LLC now owns 22,000 shares of the software maker's stock worth $166,000 after buying an additional 2,492 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Immersion in the first quarter valued at approximately $167,000. Finally, Sherbrooke Park Advisers LLC acquired a new stake in Immersion during the 4th quarter worth $170,000. Institutional investors and hedge funds own 60.57% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Immersion from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $12.25.

Insider Buying and Selling at Immersion

In other news, CFO J Michael Dodson sold 5,921 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $7.53, for a total transaction of $44,585.13. Following the completion of the transaction, the chief financial officer owned 39,132 shares in the company, valued at approximately $294,663.96. This trade represents a 13.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 5.50% of the company's stock.

Immersion Trading Down 0.4%

Shares of IMMR stock traded down $0.03 during trading hours on Monday, hitting $7.07. The company had a trading volume of 142,633 shares, compared to its average volume of 429,574. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.72 and a quick ratio of 1.04. The company's fifty day moving average is $7.32 and its 200 day moving average is $7.45. The stock has a market capitalization of $228.91 million, a PE ratio of 2.54 and a beta of 1.25. Immersion Corporation has a fifty-two week low of $6.47 and a fifty-two week high of $10.72.

Immersion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Wednesday, July 23rd were issued a $0.045 dividend. The ex-dividend date of this dividend was Wednesday, July 23rd. This represents a $0.18 annualized dividend and a yield of 2.5%. Immersion's dividend payout ratio is currently 6.47%.

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.