GSA Capital Partners LLP Sells 109,037 Shares of Immersion Corporation $IMMR

GSA Capital Partners LLP lessened its stake in Immersion Corporation (NASDAQ:IMMR) by 35.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 196,234 shares of the software maker’s stock after selling 109,037 shares during the period. GSA Capital Partners LLP owned about 0.61% of Immersion worth $1,440,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Invesco Ltd. lifted its stake in shares of Immersion by 16.2% in the second quarter. Invesco Ltd. now owns 20,682 shares of the software maker’s stock worth $163,000 after acquiring an additional 2,886 shares during the period. Tower Research Capital LLC TRC raised its holdings in Immersion by 677.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,738 shares of the software maker’s stock worth $61,000 after purchasing an additional 6,743 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Immersion by 12.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 66,732 shares of the software maker’s stock worth $526,000 after purchasing an additional 7,441 shares during the period. Los Angeles Capital Management LLC boosted its stake in shares of Immersion by 5.1% in the 2nd quarter. Los Angeles Capital Management LLC now owns 168,825 shares of the software maker’s stock valued at $1,330,000 after purchasing an additional 8,180 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its position in shares of Immersion by 17.3% during the second quarter. Balyasny Asset Management L.P. now owns 58,900 shares of the software maker’s stock worth $464,000 after buying an additional 8,692 shares during the period. Institutional investors and hedge funds own 60.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Immersion in a report on Friday, October 31st. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.25.

Immersion Trading Down 4.1%

Shares of NASDAQ IMMR opened at $5.91 on Wednesday. The firm’s 50-day moving average price is $6.60 and its 200-day moving average price is $6.81. Immersion Corporation has a 1-year low of $5.65 and a 1-year high of $8.80. The firm has a market capitalization of $191.48 million, a P/E ratio of 2.13 and a beta of 0.85.

Immersion Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Monday, January 19th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 5.1%. This is a boost from Immersion’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, January 16th. Immersion’s payout ratio is 10.79%.

Immersion Profile

Immersion Corporation is a technology company specializing in the development and licensing of haptic feedback solutions. The company’s proprietary software and hardware technologies enable devices to simulate the sense of touch, enhancing user experiences across a range of electronic products. Immersion’s core offerings include touch-feedback algorithms, software development kits, and reference designs that can be integrated into smartphones, gaming controllers, wearable devices, automotive infotainment systems, medical simulators and virtual or augmented reality platforms.

Since its founding in 1993, Immersion has built an extensive intellectual property portfolio of more than 950 issued patents worldwide.