Bank of America Corp DE Sells 226,761 Shares of Immersion Corporation (NASDAQ:IMMR)

Bank of America Corp DE cut its holdings in Immersion Corporation (NASDAQ:IMMR - Free Report) by 92.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,185 shares of the software maker's stock after selling 226,761 shares during the quarter. Bank of America Corp DE owned approximately 0.06% of Immersion worth $167,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in IMMR. Raymond James Financial Inc. bought a new position in Immersion in the 4th quarter worth approximately $1,644,000. Segall Bryant & Hamill LLC increased its stake in shares of Immersion by 41.7% in the 4th quarter. Segall Bryant & Hamill LLC now owns 494,574 shares of the software maker's stock valued at $4,318,000 after buying an additional 145,546 shares during the period. Tudor Investment Corp ET AL bought a new stake in shares of Immersion during the fourth quarter worth $700,000. Bank of New York Mellon Corp lifted its stake in shares of Immersion by 16.8% during the fourth quarter. Bank of New York Mellon Corp now owns 358,240 shares of the software maker's stock valued at $3,127,000 after acquiring an additional 51,655 shares during the period. Finally, EntryPoint Capital LLC acquired a new position in shares of Immersion during the fourth quarter valued at $327,000. 60.57% of the stock is owned by institutional investors.

Immersion Trading Down 1.0%

Shares of IMMR stock traded down $0.08 on Thursday, hitting $7.60. The stock had a trading volume of 626,647 shares, compared to its average volume of 664,817. The firm has a market cap of $246.24 million, a P/E ratio of 2.73 and a beta of 1.41. Immersion Corporation has a twelve month low of $6.47 and a twelve month high of $13.94. 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 fifty day moving average price of $7.42 and a two-hundred day moving average price of $8.00.

Wall Street Analyst Weigh In

IMMR has been the topic of several recent research reports. Wall Street Zen raised shares of Immersion from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. BWS Financial restated a "buy" rating and issued a $13.50 price objective on shares of Immersion in a report on Thursday, March 13th. Finally, Craig Hallum lowered their target price on shares of Immersion from $14.00 to $11.00 and set a "buy" rating for the company in a report on Thursday, March 13th.

Insider Buying and Selling at Immersion

In other news, CFO J Michael Dodson sold 5,921 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $7.53, for a total transaction of $44,585.13. Following the sale, the chief financial officer now owns 39,132 shares of the company's stock, valued at $294,663.96. This trade represents a 13.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.50% of the company's stock.

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.