Nissay Asset Management Corp Japan ADV Purchases 60,822 Shares of Immersion Corporation $IMMR

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 lifted its position in Immersion Corporation (NASDAQ:IMMR - Free Report) by 12.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 554,989 shares of the software maker's stock after buying an additional 60,822 shares during the period. Nissay Asset Management Corp Japan ADV owned about 1.71% of Immersion worth $4,207,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Immersion by 509.9% in the 1st quarter. GAMMA Investing LLC now owns 6,087 shares of the software maker's stock valued at $460,000 after buying an additional 5,089 shares in the last quarter. Quarry LP increased its position in shares of Immersion by 52.0% in the 1st quarter. Quarry LP now owns 9,370 shares of the software maker's stock valued at $71,000 after buying an additional 3,204 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Immersion by 15.5% in the 1st quarter. MetLife Investment Management LLC now owns 17,020 shares of the software maker's stock valued at $129,000 after buying an additional 2,288 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of Immersion by 47.4% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 17,754 shares of the software maker's stock valued at $135,000 after buying an additional 5,712 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC acquired a new position in Immersion in the 4th quarter worth $170,000. Institutional investors own 60.57% of the company's stock.

Insider Activity at Immersion

In other news, CFO J Michael Dodson sold 5,921 shares of the stock in a transaction dated Thursday, June 12th. The shares were 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 directly owned 39,132 shares in the company, valued at $294,663.96. This represents a 13.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 5.50% of the stock is currently owned by corporate insiders.

Immersion Trading Up 0.6%

Immersion stock opened at $7.09 on Monday. The firm has a 50-day moving average of $7.32 and a 200-day moving average of $7.45. Immersion Corporation has a one year low of $6.47 and a one year 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. The company has a market cap of $229.72 million, a price-to-earnings ratio of 2.55 and a beta of 1.25.

Immersion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Wednesday, July 23rd were paid a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Wednesday, July 23rd. Immersion's dividend payout ratio is currently 6.47%.

Wall Street Analyst Weigh In

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

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.

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