Dimensional Fund Advisors LP Trims Stock Position in Immersion Co. (NASDAQ:IMMR)

Dimensional Fund Advisors LP cut its position in shares of Immersion Co. (NASDAQ:IMMR) by 55.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 368,997 shares of the software maker’s stock after selling 452,314 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Immersion were worth $3,222,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC increased its position in Immersion by 276.0% during the third quarter. Barclays PLC now owns 39,579 shares of the software maker’s stock worth $353,000 after purchasing an additional 29,054 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in shares of Immersion during the fourth quarter worth $128,000. Kanen Wealth Management LLC lifted its position in shares of Immersion by 84.6% during the fourth quarter. Kanen Wealth Management LLC now owns 600,000 shares of the software maker’s stock worth $5,238,000 after purchasing an additional 275,000 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Immersion by 11.3% in the fourth quarter. Principal Financial Group Inc. now owns 55,227 shares of the software maker’s stock valued at $482,000 after acquiring an additional 5,591 shares in the last quarter. Finally, Quartz Partners LLC raised its holdings in Immersion by 4.8% in the fourth quarter. Quartz Partners LLC now owns 77,546 shares of the software maker’s stock valued at $677,000 after acquiring an additional 3,570 shares in the last quarter. 60.57% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Immersion

In related news, Director Toro 18 Holdings Llc purchased 59,146 shares of Immersion stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $8.49 per share, with a total value of $502,149.54. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William C. Martin purchased 27,150 shares of Immersion stock in a transaction dated Thursday, March 20th. The stock was bought at an average cost of $7.55 per share, with a total value of $204,982.50. Following the completion of the transaction, the insider now directly owns 1,450,693 shares of the company’s stock, valued at $10,952,732.15. This represents a 1.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 128,934 shares of company stock valued at $1,027,343. 5.50% of the stock is currently owned by corporate insiders.

Immersion Stock Performance

Shares of IMMR opened at $7.62 on Wednesday. The firm has a 50-day moving average price of $7.36 and a 200 day moving average price of $8.19. The firm has a market capitalization of $246.86 million, a PE ratio of 2.72 and a beta of 1.40. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.37. Immersion Co. has a 52-week low of $6.47 and a 52-week high of $13.94.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings results on Wednesday, March 12th. The software maker reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates 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. On average, sell-side analysts anticipate that Immersion Co. will post 1.57 earnings per share for the current fiscal year.

Immersion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, April 14th were issued a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Monday, April 14th. Immersion’s payout ratio is 6.47%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Craig Hallum cut their price target on shares of Immersion from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. BWS Financial restated a “buy” rating and set a $13.50 price target on shares of Immersion in a research report on Thursday, March 13th.

Immersion 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.