Bank of America Corp DE lowered its holdings in Immersion Corporation (NASDAQ:IMMR - Free Report) by 92.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 19,185 shares of the software maker's stock after selling 226,761 shares during the quarter. Bank of America Corp DE owned about 0.06% of Immersion worth $167,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings in shares of Immersion by 29,900.0% in the 4th quarter. Farther Finance Advisors LLC now owns 3,000 shares of the software maker's stock valued at $26,000 after acquiring an additional 2,990 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Immersion during the 4th quarter valued at approximately $51,000. Quarry LP acquired a new stake in Immersion during the 4th quarter worth approximately $54,000. AlphaQuest LLC acquired a new stake in Immersion during the 4th quarter worth approximately $61,000. Finally, Legal & General Group Plc grew its stake in shares of Immersion by 44.2% in the 4th quarter. Legal & General Group Plc now owns 7,910 shares of the software maker's stock valued at $69,000 after purchasing an additional 2,425 shares during the last quarter. Institutional investors and hedge funds own 60.57% of the company's stock.
Analyst Ratings Changes
A number of brokerages have commented on IMMR. BWS Financial restated a "buy" rating and set a $13.50 price objective on shares of Immersion in a research report on Thursday, March 13th. Wall Street Zen upgraded Immersion from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Finally, Craig Hallum cut their price objective on Immersion from $14.00 to $11.00 and set a "buy" rating for the company in a research report on Thursday, March 13th.
View Our Latest Research Report on IMMR
Immersion Price Performance
Shares of IMMR stock traded down $0.22 during midday trading on Tuesday, reaching $7.68. 623,303 shares of the company traded hands, compared to its average volume of 664,881. The firm's 50 day simple moving average is $7.40 and its two-hundred day simple moving average is $8.01. The firm has a market cap of $248.83 million, a PE ratio of 2.84 and a beta of 1.41. 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 Corporation has a 1-year low of $6.47 and a 1-year high of $13.94.
Insider Buying and Selling
In other Immersion news, CEO Eric Singer purchased 42,638 shares of Immersion stock in a transaction on Thursday, March 20th. The shares were bought at an average price of $7.51 per share, with a total value of $320,211.38. Following the completion of the acquisition, the chief executive officer now directly owns 2,161,866 shares of the company's stock, valued at approximately $16,235,613.66. This trade represents a 2.01% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William C. Martin acquired 27,150 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were bought at an average cost of $7.55 per share, for a total transaction of $204,982.50. Following the purchase, the insider now owns 1,450,693 shares of the company's stock, valued at approximately $10,952,732.15. The trade was a 1.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.50% of the stock is currently owned by insiders.
Immersion Profile
(
Free Report)
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.
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