Alliancebernstein L.P. Sells 129,561 Shares of Immersion Co. (NASDAQ:IMMR)

Alliancebernstein L.P. trimmed its stake in shares of Immersion Co. (NASDAQ:IMMR - Free Report) by 80.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,650 shares of the software maker's stock after selling 129,561 shares during the quarter. Alliancebernstein L.P. owned approximately 0.09% of Immersion worth $268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in Immersion by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 738,295 shares of the software maker's stock valued at $6,587,000 after purchasing an additional 20,982 shares in the last quarter. State Street Corp increased its position in shares of Immersion by 1.0% during the third quarter. State Street Corp now owns 681,414 shares of the software maker's stock worth $6,078,000 after acquiring an additional 6,990 shares in the last quarter. Kanen Wealth Management LLC raised its holdings in shares of Immersion by 84.6% in the 4th quarter. Kanen Wealth Management LLC now owns 600,000 shares of the software maker's stock worth $5,238,000 after acquiring an additional 275,000 shares during the last quarter. Segall Bryant & Hamill LLC lifted its position in 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 acquiring an additional 145,546 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Immersion by 16.8% during the 4th quarter. Bank of New York Mellon Corp now owns 358,240 shares of the software maker's stock valued at $3,127,000 after purchasing an additional 51,655 shares during the last quarter. 60.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IMMR has been the topic of a number of recent research reports. Craig Hallum dropped their target price on Immersion from $14.00 to $11.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. BWS Financial reaffirmed a "buy" rating and set a $13.50 price objective on shares of Immersion in a report on Thursday, March 13th.

Insiders Place Their Bets

In other news, CEO Eric Singer purchased 42,638 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were purchased at an average price of $7.51 per share, with a total value of $320,211.38. Following the transaction, the chief executive officer now directly owns 2,161,866 shares of the company's stock, valued at approximately $16,235,613.66. This represents a 2.01 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William C. Martin acquired 27,150 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average cost of $7.55 per share, with a total value of $204,982.50. Following the acquisition, the insider now owns 1,450,693 shares in the company, valued at $10,952,732.15. The trade was a 1.91 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 128,934 shares of company stock valued at $1,027,343. Company insiders own 5.50% of the company's stock.

Immersion Stock Up 4.1 %

NASDAQ:IMMR traded up $0.29 on Friday, hitting $7.41. The stock had a trading volume of 310,041 shares, compared to its average volume of 701,866. Immersion Co. has a 1 year low of $6.47 and a 1 year high of $13.94. The firm's fifty day simple moving average is $7.55 and its two-hundred day simple moving average is $8.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.94 and a current ratio of 1.65. The stock has a market cap of $240.05 million, a P/E ratio of 2.65 and a beta of 1.50.

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

Immersion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, April 14th were issued a dividend of $0.045 per share. The ex-dividend date of this dividend was Monday, April 14th. This represents a $0.18 dividend on an annualized basis and a yield of 2.43%. Immersion's dividend payout ratio (DPR) is presently 6.47%.

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.