Millennium Management LLC Raises Stock Holdings in Immersion Co. (NASDAQ:IMMR)

Millennium Management LLC boosted its holdings in Immersion Co. (NASDAQ:IMMR - Free Report) by 128.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 794,767 shares of the software maker's stock after buying an additional 446,623 shares during the quarter. Millennium Management LLC owned 2.46% of Immersion worth $6,938,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Lazard Asset Management LLC increased its position in shares of Immersion by 28.2% during the 4th quarter. Lazard Asset Management LLC now owns 47,418 shares of the software maker's stock valued at $413,000 after purchasing an additional 10,425 shares during the last quarter. Deutsche Bank AG increased its position in shares of Immersion by 48.4% during the 4th quarter. Deutsche Bank AG now owns 37,481 shares of the software maker's stock valued at $327,000 after purchasing an additional 12,227 shares during the last quarter. Corton Capital Inc. increased its position in shares of Immersion by 29.8% during the 4th quarter. Corton Capital Inc. now owns 43,898 shares of the software maker's stock valued at $383,000 after purchasing an additional 10,067 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Immersion by 58.6% during the 4th 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. Finally, Centiva Capital LP increased its position in shares of Immersion by 58.2% during the 4th quarter. Centiva Capital LP now owns 41,398 shares of the software maker's stock valued at $361,000 after purchasing an additional 15,228 shares during the last quarter. Hedge funds and other institutional investors own 60.57% of the company's stock.

Insiders Place Their Bets

In other Immersion news, Director Toro 18 Holdings Llc purchased 59,146 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was acquired at an average cost of $8.49 per share, for a total transaction of $502,149.54. Following the purchase, the director now directly owns 11,065,848 shares of the company's stock, valued at $93,949,049.52. This trade represents a 0.54% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric Singer purchased 42,638 shares of the company's stock in a transaction on Thursday, March 20th. The stock was acquired at an average price of $7.51 per share, with a total value of $320,211.38. Following the completion of the purchase, the chief executive officer now directly owns 2,161,866 shares in the company, valued at $16,235,613.66. This trade represents a 2.01% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 128,934 shares of company stock worth $1,027,343 in the last three months. 5.50% of the stock is owned by company insiders.

Immersion Stock Performance

Shares of NASDAQ:IMMR traded up $0.09 during mid-day trading on Wednesday, reaching $7.59. 338,584 shares of the company traded hands, compared to its average volume of 676,465. The company's 50 day moving average price is $7.32 and its 200-day moving average price is $8.11. The firm has a market cap of $245.89 million, a PE ratio of 2.71 and a beta of 1.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.65 and a quick ratio of 0.94. Immersion Co. has a 52 week low of $6.47 and a 52 week high of $13.94.

Immersion (NASDAQ:IMMR - Get Free Report) last announced its quarterly earnings data on Wednesday, March 12th. The software maker reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.33. The company had revenue of $474.76 million during the quarter, compared to the consensus estimate of $9.45 million. Immersion had a return on equity of 28.08% and a net margin of 11.79%. On average, equities analysts expect that Immersion Co. will post 1.57 EPS for the current fiscal year.

Immersion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, April 14th were paid a $0.045 dividend. The ex-dividend date of this dividend was Monday, April 14th. This represents a $0.18 annualized dividend and a yield of 2.37%. Immersion's payout ratio is 6.47%.

Wall Street Analyst Weigh In

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

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.