Campbell & CO Investment Adviser LLC Grows Stock Holdings in Immersion Corporation $IMMR

Key Points

• Campbell & CO Investment Adviser LLC increased its stake in Immersion Corporation by 44%, owning approximately 0.63% of the company worth $1.55 million after acquiring additional shares in Q1.
• Immersion Corporation recently announced a quarterly dividend of $0.045, resulting in an annualized dividend yield of 2.6% and a low payout ratio of 6.47%.
• Analysts have downgraded Immersion's stock rating from "buy" to "hold," with an average target price now set at $12.25, despite two analysts still rating it as a buy.

Campbell & CO Investment Adviser LLC increased its holdings in Immersion Corporation (NASDAQ:IMMR - Free Report) by 44.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 205,186 shares of the software maker's stock after buying an additional 62,721 shares during the period. Campbell & CO Investment Adviser LLC owned about 0.63% of Immersion worth $1,555,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of IMMR. Millennium Management LLC raised its stake in 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 buying an additional 446,623 shares in the last quarter. Raymond James Financial Inc. bought a new position in Immersion in the fourth quarter worth approximately $1,644,000. Nuveen LLC bought a new position in Immersion in the first quarter worth approximately $645,000. Tudor Investment Corp ET AL purchased a new stake in shares of Immersion during the 4th quarter valued at $700,000. Finally, Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Immersion by 11.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 494,167 shares of the software maker's stock valued at $4,448,000 after purchasing an additional 48,843 shares during the last quarter. Institutional investors own 60.57% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen lowered 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, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $12.25.

Insiders Place Their Bets

In other Immersion news, CFO J Michael Dodson sold 5,921 shares of the 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 sale, the chief financial officer directly owned 39,132 shares of the company's stock, valued at approximately $294,663.96. This trade represents a 13.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.50% of the company's stock.

Immersion Stock Performance

IMMR stock traded up $0.05 during midday trading on Friday, reaching $7.06. The stock had a trading volume of 262,436 shares, compared to its average volume of 362,857. The stock has a market cap of $228.74 million, a PE ratio of 2.54 and a beta of 1.25. 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 firm has a fifty day simple moving average of $7.39 and a two-hundred day simple moving average of $7.51. Immersion Corporation has a 52-week low of $6.47 and a 52-week high of $10.72.

Immersion Announces Dividend

The business also recently declared 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 2.5%. The ex-dividend date of this dividend was Wednesday, July 23rd. Immersion's dividend payout ratio (DPR) is currently 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.