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

Alliancebernstein L.P. decreased its holdings in shares of Immersion Co. (NASDAQ:IMMR) by 80.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,650 shares of the software maker’s stock after selling 129,561 shares during the quarter. Alliancebernstein L.P.’s holdings in Immersion were worth $268,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of IMMR. Barclays PLC grew its position in shares of Immersion by 276.0% in the 3rd quarter. Barclays PLC now owns 39,579 shares of the software maker’s stock valued at $353,000 after acquiring an additional 29,054 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Immersion during the fourth quarter worth approximately $51,000. Franklin Resources Inc. raised its holdings in Immersion by 5.8% in the 3rd quarter. Franklin Resources Inc. now owns 52,804 shares of the software maker’s stock valued at $447,000 after acquiring an additional 2,879 shares in the last quarter. State Street Corp raised its stake in Immersion by 1.0% in the third quarter. State Street Corp now owns 681,414 shares of the software maker’s stock valued at $6,078,000 after purchasing an additional 6,990 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Immersion by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 738,295 shares of the software maker’s stock worth $6,587,000 after acquiring an additional 20,982 shares during the period. 60.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IMMR. BWS Financial reaffirmed a “buy” rating and issued a $13.50 target price on shares of Immersion in a report on Thursday, March 13th. Craig Hallum reduced their price objective on Immersion from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th.

Immersion Price Performance

IMMR stock opened at $6.95 on Tuesday. 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 stock has a market cap of $225.15 million, a price-to-earnings ratio of 2.48 and a beta of 1.50. The company has a 50 day simple moving average of $7.67 and a 200 day simple moving average of $8.32.

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

Immersion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 14th will be given a $0.045 dividend. The ex-dividend date is Monday, April 14th. This represents a $0.18 annualized dividend and a yield of 2.59%. Immersion’s dividend payout ratio is presently 6.47%.

Insider Activity

In other Immersion news, CEO Eric Singer bought 42,638 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average cost of $7.51 per share, for a total transaction of $320,211.38. Following the transaction, the chief executive officer now directly owns 2,161,866 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William C. Martin purchased 27,150 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was acquired at an average price of $7.55 per share, with a total value of $204,982.50. Following the completion of 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 disclosure for this purchase can be found here. Over the last three months, insiders have bought 128,934 shares of company stock valued at $1,027,343. 5.50% of the stock is currently owned by corporate insiders.

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.