Royce & Associates LP Decreases Stake in Immersion Corporation (NASDAQ:IMMR)

Key Points

• Royce & Associates LP reduced its stake in Immersion Corporation by 14.8% by selling 78,344 shares, bringing its total holdings to 452,443 shares worth approximately $3.43 million.
• Immersion announced a quarterly dividend of $0.045 per share, with a yield of 2.45%, set to be paid on August 8th.
• Wall Street Zen downgraded Immersion's stock rating from "buy" to "hold" on July 5th, indicating a shift in analyst sentiment towards the company's performance.

Royce & Associates LP lowered its position in Immersion Corporation (NASDAQ:IMMR - Free Report) by 14.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 452,443 shares of the software maker's stock after selling 78,344 shares during the quarter. Royce & Associates LP owned approximately 1.40% of Immersion worth $3,430,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Quarry LP purchased a new stake in Immersion during the 4th quarter valued at approximately $54,000. Legal & General Group Plc raised its position in Immersion by 44.2% during the 4th quarter. Legal & General Group Plc now owns 7,910 shares of the software maker's stock worth $69,000 after buying an additional 2,425 shares during the last quarter. Bayesian Capital Management LP purchased a new position in Immersion during the 4th quarter worth $129,000. XTX Topco Ltd purchased a new position in Immersion during the 4th quarter worth $132,000. Finally, FNY Investment Advisers LLC raised its holdings in Immersion by 12.8% during the first quarter. FNY Investment Advisers LLC now owns 22,000 shares of the software maker's stock worth $166,000 after purchasing an additional 2,492 shares in the last quarter. Hedge funds and other institutional investors own 60.57% of the company's stock.

Insider Buying and Selling

In other news, CFO J Michael Dodson sold 5,921 shares of the business's stock in a transaction on 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 sale, the chief financial officer directly owned 39,132 shares of the company's stock, valued at $294,663.96. The trade was a 13.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.50% of the stock is owned by company insiders.

Immersion Price Performance

Shares of IMMR traded down $0.17 during mid-day trading on Thursday, reaching $6.91. 289,213 shares of the company's stock were exchanged, compared to its average volume of 442,344. The company has a market cap of $223.72 million, a price-to-earnings ratio of 2.48 and a beta of 1.41. The company has a 50-day simple moving average of $7.67 and a two-hundred day simple moving average of $7.75. Immersion Corporation has a 52-week low of $6.47 and a 52-week high of $13.00. The company has a quick ratio of 1.04, a current ratio of 1.72 and a debt-to-equity ratio of 0.25.

Immersion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Wednesday, July 23rd will be paid a $0.045 dividend. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $0.18 annualized dividend and a yield of 2.61%. Immersion's payout ratio is currently 6.47%.

Wall Street Analyst Weigh In

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

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.