SummerHaven Investment Management LLC Purchases 1,991 Shares of Immersion Corporation $IMMR

SummerHaven Investment Management LLC raised its stake in Immersion Corporation (NASDAQ:IMMR) by 2.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 79,710 shares of the software maker’s stock after purchasing an additional 1,991 shares during the quarter. SummerHaven Investment Management LLC owned 0.25% of Immersion worth $628,000 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. Nissay Asset Management Corp Japan ADV lifted its position in Immersion by 12.3% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 554,989 shares of the software maker’s stock valued at $4,207,000 after purchasing an additional 60,822 shares during the last quarter. Cetera Investment Advisers lifted its position in Immersion by 58.6% in the fourth quarter. Cetera Investment Advisers now owns 20,850 shares of the software maker’s stock valued at $182,000 after purchasing an additional 7,703 shares during the last quarter. GAMMA Investing LLC lifted its position in Immersion by 509.9% in the first quarter. GAMMA Investing LLC now owns 6,087 shares of the software maker’s stock valued at $460,000 after purchasing an additional 5,089 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Immersion by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 359,868 shares of the software maker’s stock valued at $2,728,000 after purchasing an additional 1,628 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in Immersion by 15.5% in the first quarter. MetLife Investment Management LLC now owns 17,020 shares of the software maker’s stock valued at $129,000 after purchasing an additional 2,288 shares during the last quarter. Institutional investors own 60.57% of the company’s stock.

Immersion Price Performance

IMMR opened at $7.33 on Tuesday. The stock has a fifty day simple moving average of $7.09 and a two-hundred day simple moving average of $7.37. 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 cap of $237.46 million, a price-to-earnings ratio of 2.64 and a beta of 1.25. Immersion Corporation has a 12-month low of $6.47 and a 12-month high of $10.72.

Immersion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Wednesday, July 23rd were issued a $0.045 dividend. The ex-dividend date was Wednesday, July 23rd. This represents a $0.18 dividend on an annualized basis and a yield of 2.5%. Immersion’s dividend payout ratio is 6.47%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Immersion from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $12.25.

Immersion 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.