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

BNP Paribas Financial Markets decreased its holdings in Immersion Co. (NASDAQ:IMMR) by 10.7% during the third quarter, HoldingsChannel.com reports. The firm owned 60,404 shares of the software maker’s stock after selling 7,243 shares during the quarter. BNP Paribas Financial Markets’ holdings in Immersion were worth $539,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quarry LP bought a new position in shares of Immersion in the second quarter worth about $26,000. Copeland Capital Management LLC purchased a new stake in Immersion in the 3rd quarter valued at about $59,000. CWM LLC grew its stake in Immersion by 160.3% in the 2nd quarter. CWM LLC now owns 6,487 shares of the software maker’s stock worth $61,000 after acquiring an additional 3,995 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Immersion during the third quarter worth approximately $78,000. Finally, Caprock Group LLC bought a new stake in shares of Immersion during the second quarter valued at approximately $107,000. Hedge funds and other institutional investors own 60.57% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. BWS Financial increased their price objective on Immersion from $11.00 to $13.50 and gave the stock a “buy” rating in a research note on Monday, August 26th. StockNews.com upgraded Immersion from a “hold” rating to a “buy” rating in a report on Thursday, August 29th.

Immersion Trading Up 0.5 %

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

Immersion Announces Dividend

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

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.