Arkadios Wealth Advisors Makes New $304,000 Investment in Immersion Corporation (NASDAQ:IMMR)

Arkadios Wealth Advisors bought a new stake in Immersion Corporation (NASDAQ:IMMR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 40,053 shares of the software maker's stock, valued at approximately $304,000. Arkadios Wealth Advisors owned approximately 0.12% of Immersion as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Quarry LP acquired a new position in Immersion during the fourth quarter worth $54,000. Legal & General Group Plc boosted its holdings in Immersion by 44.2% in the fourth quarter. Legal & General Group Plc now owns 7,910 shares of the software maker's stock valued at $69,000 after purchasing an additional 2,425 shares during the last quarter. Bayesian Capital Management LP purchased a new position in Immersion in the fourth quarter valued at about $129,000. XTX Topco Ltd purchased a new position in Immersion in the fourth quarter valued at about $132,000. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in Immersion by 47.4% in 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 last quarter. 60.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Immersion from a "buy" rating to a "hold" rating in a report on Saturday, July 5th.

Insider Buying and Selling

In other Immersion news, CFO J Michael Dodson sold 5,921 shares of Immersion stock in a transaction dated Thursday, June 12th. The stock was 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. The trade was a 13.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.50% of the company's stock.

Immersion Stock Up 2.5%

Shares of Immersion stock traded up $0.17 during trading hours on Friday, reaching $7.05. 309,541 shares of the company's stock were exchanged, compared to its average volume of 447,281. Immersion Corporation has a fifty-two week low of $6.47 and a fifty-two week high of $11.38. The stock has a market cap of $228.42 million, a P/E ratio of 2.54 and a beta of 1.39. The company has a 50 day moving average of $7.59 and a two-hundred day moving average of $7.66. The company has a current ratio of 1.72, a quick ratio of 1.04 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. Shareholders 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 yield of 2.6%. Immersion's payout ratio is presently 6.47%.

Immersion 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.