AlphaQuest LLC Increases Holdings in Immersion Corporation $IMMR

AlphaQuest LLC increased its stake in shares of Immersion Corporation (NASDAQ:IMMR) by 772.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,703 shares of the software maker’s stock after buying an additional 23,641 shares during the quarter. AlphaQuest LLC owned about 0.08% of Immersion worth $210,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Nissay Asset Management Corp Japan ADV lifted its position in Immersion by 12.3% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 554,989 shares of the software maker’s stock worth $4,207,000 after buying an additional 60,822 shares in the last quarter. MetLife Investment Management LLC lifted its position in Immersion by 15.5% during the first quarter. MetLife Investment Management LLC now owns 17,020 shares of the software maker’s stock worth $129,000 after buying an additional 2,288 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Immersion by 0.5% during the first quarter. Bank of New York Mellon Corp now owns 359,868 shares of the software maker’s stock worth $2,728,000 after buying an additional 1,628 shares in the last quarter. Nuveen LLC purchased a new position in Immersion during the first quarter worth approximately $645,000. Finally, Russell Investments Group Ltd. lifted its position in Immersion by 11.2% during the first quarter. Russell Investments Group Ltd. now owns 143,362 shares of the software maker’s stock worth $1,087,000 after buying an additional 14,477 shares in the last quarter. Hedge funds and other institutional investors own 60.57% of the company’s stock.

Immersion Price Performance

IMMR stock opened at $6.69 on Monday. The company has a current ratio of 1.72, a quick ratio of 1.04 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $216.73 million, a PE ratio of 2.41 and a beta of 1.16. Immersion Corporation has a 12-month low of $6.47 and a 12-month high of $10.72. The business’s fifty day moving average price is $7.04 and its 200 day moving average price is $7.30.

Immersion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 20th were issued a $0.045 dividend. This represents a $0.18 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Monday, October 20th. Immersion’s payout ratio is currently 6.47%.

Analyst Ratings Changes

A number of equities analysts recently commented on IMMR shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Immersion in a research report on Friday. BWS Financial reiterated a “buy” rating and set a $13.50 price objective on shares of Immersion in a research report on Wednesday, October 15th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.25.

Immersion Company 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.