Nuveen LLC Invests $645,000 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 position in shares of Immersion Corporation (NASDAQ:IMMR - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 85,127 shares of the software maker's stock, valued at approximately $645,000. Nuveen LLC owned approximately 0.26% of Immersion as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Immersion by 509.9% during the 1st quarter. GAMMA Investing LLC now owns 6,087 shares of the software maker's stock worth $460,000 after buying an additional 5,089 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in Immersion during the 4th quarter worth approximately $129,000. Skandinaviska Enskilda Banken AB publ lifted its holdings in Immersion by 47.4% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 17,754 shares of the software maker's stock worth $135,000 after buying an additional 5,712 shares in the last quarter. Sherbrooke Park Advisers LLC purchased a new stake in shares of Immersion in the 4th quarter valued at approximately $170,000. Finally, Cetera Investment Advisers increased its position in shares of Immersion by 58.6% in the 4th quarter. Cetera Investment Advisers now owns 20,850 shares of the software maker's stock valued at $182,000 after purchasing an additional 7,703 shares during the last quarter. 60.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Immersion

In other news, CFO J Michael Dodson sold 5,921 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $7.53, for a total value of $44,585.13. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.50% of the company's stock.

Analysts Set New Price Targets

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

Immersion Stock Performance

Immersion stock traded down $0.12 during midday trading on Tuesday, hitting $7.02. 106,132 shares of the company's stock were exchanged, compared to its average volume of 428,509. Immersion Corporation has a 12-month low of $6.47 and a 12-month high of $10.72. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.04 and a current ratio of 1.72. The stock has a market cap of $227.26 million, a price-to-earnings ratio of 2.52 and a beta of 1.25. The firm's 50 day simple moving average is $7.30 and its 200 day simple moving average is $7.44.

Immersion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Wednesday, July 23rd were given a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Wednesday, July 23rd. Immersion's dividend payout ratio (DPR) is presently 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.