Alliancebernstein L.P. Reduces Stock Position in Immersion Co. (NASDAQ:IMMR)

Alliancebernstein L.P. lessened its stake in shares of Immersion Co. (NASDAQ:IMMR - Free Report) by 80.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,650 shares of the software maker's stock after selling 129,561 shares during the period. Alliancebernstein L.P. owned 0.09% of Immersion worth $268,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of IMMR. Farther Finance Advisors LLC lifted its stake 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 purchasing an additional 2,990 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Immersion in the fourth quarter valued at about $51,000. AlphaQuest LLC purchased a new position in Immersion during the fourth quarter worth about $61,000. Proficio Capital Partners LLC acquired a new stake in shares of Immersion during the fourth quarter valued at about $98,000. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in shares of Immersion by 68.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 12,042 shares of the software maker's stock valued at $106,000 after acquiring an additional 4,897 shares during the period. Institutional investors and hedge funds own 60.57% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, insider William C. Martin acquired 27,150 shares of the company's stock in a transaction on Thursday, March 20th. The shares were bought at an average cost of $7.55 per share, with a total value of $204,982.50. Following the transaction, the insider now owns 1,450,693 shares in the company, valued at approximately $10,952,732.15. This trade represents a 1.91 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Toro 18 Holdings Llc bought 59,146 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average price of $8.49 per share, with a total value of $502,149.54. Following the purchase, the director now owns 11,065,848 shares of the company's stock, valued at approximately $93,949,049.52. This represents a 0.54 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 128,934 shares of company stock worth $1,027,343. Company insiders own 5.50% of the company's stock.

Immersion Stock Up 3.7 %

Shares of NASDAQ IMMR traded up $0.27 during midday trading on Friday, hitting $7.39. The company's stock had a trading volume of 201,848 shares, compared to its average volume of 699,556. The firm has a market capitalization of $239.24 million, a price-to-earnings ratio of 2.63 and a beta of 1.50. Immersion Co. has a 1 year low of $6.47 and a 1 year high of $13.94. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.65 and a quick ratio of 0.94. The business's fifty day simple moving average is $7.57 and its two-hundred day simple moving average is $8.29.

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

Immersion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 14th will be given a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Monday, April 14th. Immersion's dividend payout ratio is presently 6.47%.

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.