Ritholtz Wealth Management Sells 10,022 Shares of Immersion Corporation $IMMR

Ritholtz Wealth Management lessened its holdings in Immersion Corporation (NASDAQ:IMMR) by 50.0% during the second quarter, HoldingsChannel.com reports. The firm owned 10,034 shares of the software maker’s stock after selling 10,022 shares during the period. Ritholtz Wealth Management’s holdings in Immersion were worth $79,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Nissay Asset Management Corp Japan ADV increased its holdings 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 during the last quarter. MetLife Investment Management LLC increased its holdings 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 during the last quarter. Bank of New York Mellon Corp increased its holdings 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 during the last quarter. Nuveen LLC acquired a new position in Immersion during the first quarter worth $645,000. Finally, Russell Investments Group Ltd. increased its holdings 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 during the last quarter. 60.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. BWS Financial restated a “buy” rating and set a $13.50 target price on shares of Immersion in a report on Wednesday, October 15th. Wall Street Zen downgraded shares of Immersion from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Immersion in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Immersion currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.25.

Immersion Price Performance

NASDAQ:IMMR opened at $6.82 on Thursday. Immersion Corporation has a one year low of $6.47 and a one year high of $10.72. The company has a market cap of $220.97 million, a P/E ratio of 2.45 and a beta of 1.16. The firm’s fifty day moving average price is $7.08 and its two-hundred day moving average price is $7.31. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.72 and a quick ratio of 1.04.

Immersion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 20th will be issued a $0.045 dividend. This represents a $0.18 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, October 20th. 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.