Goldman Sachs Group Inc. Sells 116,568 Shares of Immersion Corporation $IMMR

Key Points

• Goldman Sachs Group Inc. sold 116,568 shares of Immersion Corporation, reducing its holdings by 49% to approximately 121,485 shares.
• Various institutional investors increased their stakes in Immersion, with significant increases reported by Millennium Management LLC (up 128.3%) and GAMMA Investing LLC (up 509.9%).
• Wall Street analysts have mixed views, with one recent downgrade from a "buy" to a "hold" rating, while the stock maintains an average buy rating and a target price of $12.25.

Goldman Sachs Group Inc. decreased its holdings in Immersion Corporation (NASDAQ:IMMR - Free Report) by 49.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 121,485 shares of the software maker's stock after selling 116,568 shares during the quarter. Goldman Sachs Group Inc. owned 0.37% of Immersion worth $921,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in IMMR. Cetera Investment Advisers lifted its position in 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 acquiring an additional 7,703 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Immersion by 48.4% during the fourth quarter. Deutsche Bank AG now owns 37,481 shares of the software maker's stock valued at $327,000 after purchasing an additional 12,227 shares in the last quarter. Millennium Management LLC lifted its position in shares of Immersion by 128.3% during the fourth quarter. Millennium Management LLC now owns 794,767 shares of the software maker's stock valued at $6,938,000 after purchasing an additional 446,623 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Immersion by 8.5% during the fourth quarter. ProShare Advisors LLC now owns 26,318 shares of the software maker's stock valued at $230,000 after purchasing an additional 2,064 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Immersion by 509.9% during the first quarter. GAMMA Investing LLC now owns 6,087 shares of the software maker's stock valued at $460,000 after purchasing an additional 5,089 shares in the last quarter. Institutional investors own 60.57% of the company's stock.

Wall Street Analysts Forecast Growth

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

Immersion Price Performance

IMMR opened at $7.36 on Tuesday. The company has a market capitalization of $238.46 million, a price-to-earnings ratio of 2.65 and a beta of 1.25. The company has a quick ratio of 1.04, a current ratio of 1.72 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average price of $7.13 and a 200-day moving average price of $7.38. Immersion Corporation has a twelve month low of $6.47 and a twelve month high of $10.72.

Immersion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Wednesday, July 23rd were paid 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 2.4%. Immersion's 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.

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