Nissay Asset Management Corp Japan ADV Raises Stock Position in Immersion Co. (NASDAQ:IMMR)

Nissay Asset Management Corp Japan ADV increased its position in shares of Immersion Co. (NASDAQ:IMMR - Free Report) by 11.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 494,167 shares of the software maker's stock after purchasing an additional 48,843 shares during the period. Nissay Asset Management Corp Japan ADV owned 1.53% of Immersion worth $4,448,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC increased its position in shares of Immersion by 276.0% during the 3rd quarter. Barclays PLC now owns 39,579 shares of the software maker's stock worth $353,000 after purchasing an additional 29,054 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Immersion during the fourth quarter worth about $51,000. Kanen Wealth Management LLC boosted its stake in Immersion by 84.6% during the fourth quarter. Kanen Wealth Management LLC now owns 600,000 shares of the software maker's stock worth $5,238,000 after buying an additional 275,000 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Immersion by 5.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,443 shares of the software maker's stock valued at $284,000 after acquiring an additional 1,604 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Immersion by 11.3% in the 4th quarter. Principal Financial Group Inc. now owns 55,227 shares of the software maker's stock valued at $482,000 after acquiring an additional 5,591 shares during the period. 60.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Craig Hallum lowered their price objective on shares of Immersion from $14.00 to $11.00 and set a "buy" rating for the company in a research report on Thursday, March 13th. Wall Street Zen upgraded Immersion from a "hold" rating to a "buy" rating in a research note on Thursday. Finally, BWS Financial reaffirmed a "buy" rating and issued a $13.50 price objective on shares of Immersion in a research note on Thursday, March 13th.

Insider Activity at Immersion

In other Immersion news, insider William C. Martin bought 27,150 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were purchased at an average price of $7.55 per share, with a total value of $204,982.50. Following the completion of the acquisition, the insider now directly owns 1,450,693 shares of the company's stock, valued at $10,952,732.15. This represents a 1.91% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Toro 18 Holdings Llc acquired 59,146 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of $8.49 per share, for a total transaction of $502,149.54. Following the acquisition, the director now owns 11,065,848 shares in the company, valued at approximately $93,949,049.52. The trade was a 0.54% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 128,934 shares of company stock worth $1,027,343. Company insiders own 5.50% of the company's stock.

Immersion Trading Down 0.3%

NASDAQ:IMMR traded down $0.02 on Thursday, reaching $7.39. 20,406 shares of the company's stock were exchanged, compared to its average volume of 678,845. The firm has a market capitalization of $239.41 million, a price-to-earnings ratio of 2.64 and a beta of 1.40. Immersion Co. has a 52-week low of $6.47 and a 52-week high of $13.94. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.37. The business has a fifty day moving average of $7.34 and a 200-day moving average of $8.15.

Immersion (NASDAQ:IMMR - Get Free Report) last announced its earnings results on Wednesday, March 12th. The software maker reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.33. Immersion had a net margin of 11.79% and a return on equity of 28.08%. The firm had revenue of $474.76 million for the quarter, compared to the consensus estimate of $9.45 million. As a group, analysts expect that Immersion Co. will post 1.57 earnings per share for the current year.

Immersion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, April 14th were paid a $0.045 dividend. This represents a $0.18 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Monday, April 14th. 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.