BNP Paribas Financial Markets Cuts Stock Position in Immersion Co. (NASDAQ:IMMR)

BNP Paribas Financial Markets trimmed its holdings in Immersion Co. (NASDAQ:IMMR) by 10.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,404 shares of the software maker’s stock after selling 7,243 shares during the period. BNP Paribas Financial Markets owned about 0.19% of Immersion worth $539,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in IMMR. FMR LLC raised its stake in Immersion by 518.2% during the 3rd quarter. FMR LLC now owns 19,481 shares of the software maker’s stock valued at $174,000 after purchasing an additional 16,330 shares during the period. Quantbot Technologies LP bought a new stake in shares of Immersion during the third quarter valued at approximately $78,000. D.A. Davidson & CO. purchased a new position in shares of Immersion in the third quarter worth $235,000. Charles Schwab Investment Management Inc. boosted its position in shares of Immersion by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 86,910 shares of the software maker’s stock worth $775,000 after acquiring an additional 2,416 shares during the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in Immersion during the third quarter valued at $3,113,000. Institutional investors own 60.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. BWS Financial increased their price objective on shares of Immersion from $11.00 to $13.50 and gave the company a “buy” rating in a report on Monday, August 26th. StockNews.com raised Immersion from a “hold” rating to a “buy” rating in a report on Thursday, August 29th.

Immersion Stock Up 0.5 %

Shares of NASDAQ IMMR opened at $9.16 on Friday. The company has a current ratio of 1.55, a quick ratio of 0.72 and a debt-to-equity ratio of 0.44. Immersion Co. has a 12-month low of $6.54 and a 12-month high of $13.94. The firm’s 50-day moving average price is $8.67 and its 200-day moving average price is $9.59. The stock has a market capitalization of $295.52 million, a price-to-earnings ratio of 4.47 and a beta of 1.51.

Immersion Announces Dividend

The business also recently disclosed a None dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be given a dividend of $0.245 per share. The ex-dividend date of this dividend is Friday, January 10th. Immersion’s dividend payout ratio (DPR) is presently 8.78%.

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.