Immersion Corporation $IMMR Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its holdings in Immersion Corporation by 76% in the first quarter, owning $606,000 worth of 79,922 shares after selling 252,727 shares.
• Immersion recently declared a quarterly dividend of $0.045 per share, equating to an annualized yield of 2.5% for its shareholders.
• Millennium Management LLC significantly increased its position in Immersion by 128.3%, now holding 794,767 shares valued at $6,938,000 after buying an additional 446,623 shares.

American Century Companies Inc. decreased its stake in Immersion Corporation (NASDAQ:IMMR - Free Report) by 76.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,922 shares of the software maker's stock after selling 252,727 shares during the period. American Century Companies Inc. owned approximately 0.25% of Immersion worth $606,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of IMMR. Millennium Management LLC lifted its stake in shares of Immersion by 128.3% in the fourth quarter. Millennium Management LLC now owns 794,767 shares of the software maker's stock worth $6,938,000 after acquiring an additional 446,623 shares in the last quarter. Nuveen LLC acquired a new position in shares of Immersion in the first quarter worth about $645,000. Nissay Asset Management Corp Japan ADV lifted its stake in shares of Immersion by 11.0% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 494,167 shares of the software maker's stock worth $4,448,000 after acquiring an additional 48,843 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Immersion in the fourth quarter worth about $394,000. Finally, Arkadios Wealth Advisors acquired a new position in shares of Immersion in the first quarter worth about $304,000. Institutional investors and hedge funds own 60.57% of the company's stock.

Immersion Stock Performance

Shares of NASDAQ:IMMR traded down $0.03 during trading on Thursday, hitting $6.81. 261,926 shares of the company traded hands, compared to its average volume of 331,881. The stock has a market capitalization of $220.62 million, a price-to-earnings ratio of 2.45 and a beta of 1.25. The business's fifty day moving average is $7.23 and its 200-day moving average is $7.43. Immersion Corporation has a one year low of $6.47 and a one year high of $10.72. The company has a quick ratio of 1.04, a current ratio of 1.72 and a debt-to-equity ratio of 0.25.

Immersion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Wednesday, July 23rd were issued a dividend of $0.045 per share. The ex-dividend date of this dividend was Wednesday, July 23rd. This represents a $0.18 annualized dividend and a dividend yield of 2.6%. Immersion's dividend payout ratio is 6.47%.

Analysts Set New Price Targets

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

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.