Immersion Corporation $IMMR Shares Bought by Nissay Asset Management Corp Japan ADV

Key Points

• Nissay Asset Management Corp Japan ADV increased its position in Immersion Corporation by 12.3% in the first quarter, acquiring an additional 60,822 shares, bringing its total ownership to approximately 1.71% valued at $4.2 million.
• In addition to Nissay, several other institutional investors significantly boosted their stakes in Immersion, with GAMMA Investing LLC leading with a 509.9% increase in its position.
• Immersion announced a quarterly dividend of $0.045 per share, reflecting an annualized payout of $0.18 and a dividend yield of 2.5%.

Nissay Asset Management Corp Japan ADV increased its holdings in Immersion Corporation (NASDAQ:IMMR - Free Report) by 12.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 554,989 shares of the software maker's stock after acquiring an additional 60,822 shares during the period. Nissay Asset Management Corp Japan ADV owned approximately 1.71% of Immersion worth $4,207,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Immersion by 5.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,443 shares of the software maker's stock valued at $284,000 after buying an additional 1,604 shares during the period. Northern Trust Corp lifted its stake in Immersion by 2.1% during the 4th quarter. Northern Trust Corp now owns 296,590 shares of the software maker's stock worth $2,589,000 after acquiring an additional 6,239 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in Immersion during the 4th quarter worth about $394,000. Centiva Capital LP lifted its stake in Immersion by 58.2% during the 4th quarter. Centiva Capital LP now owns 41,398 shares of the software maker's stock worth $361,000 after acquiring an additional 15,228 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in Immersion by 58.6% during the 4th quarter. Cetera Investment Advisers now owns 20,850 shares of the software maker's stock worth $182,000 after acquiring an additional 7,703 shares in the last quarter. 60.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Immersion Stock Performance

NASDAQ:IMMR remained flat at $6.81 during midday trading on Friday. The company had a trading volume of 258,528 shares, compared to its average volume of 327,739. The firm has a market cap of $220.64 million, a price-to-earnings ratio of 2.45 and a beta of 1.25. The business's 50-day simple moving average is $7.21 and its two-hundred day simple moving average is $7.41. Immersion Corporation has a 52-week low of $6.47 and a 52-week high of $10.72. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.72 and a quick ratio of 1.04.

Immersion Announces Dividend

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