Toro 18 Holdings Llc Sells 42,019 Shares of Immersion (NASDAQ:IMMR) Stock

Immersion Corporation (NASDAQ:IMMR) insider Toro 18 Holdings Llc sold 42,019 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $4.61, for a total transaction of $193,707.59. Following the completion of the sale, the insider directly owned 1,235,732 shares of the company’s stock, valued at $5,696,724.52. The trade was a 3.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Toro 18 Holdings Llc also recently made the following trade(s):

• On Thursday, September 3rd, Toro 18 Holdings Llc sold 3,900 shares of Immersion stock. The shares were sold at an average price of $4.55, for a total transaction of $17,745.00.
• On Wednesday, August 19th, Toro 18 Holdings Llc sold 8,300 shares of Immersion stock. The shares were sold at an average price of $4.83, for a total transaction of $40,089.00.
• On Tuesday, August 18th, Toro 18 Holdings Llc sold 15,000 shares of Immersion stock. The stock was sold at an average price of $4.95, for a total transaction of $74,250.00.
• On Monday, August 17th, Toro 18 Holdings Llc sold 43,596 shares of Immersion stock. The stock was sold at an average price of $5.25, for a total transaction of $228,879.00.
• On Monday, August 10th, Toro 18 Holdings Llc sold 200,000 shares of Immersion stock. The shares were sold at an average price of $5.22, for a total transaction of $1,044,000.00.

Immersion Price Performance

Shares of NASDAQ IMMR traded up $0.15 during mid-day trading on Friday, reaching $7.71. 213,587 shares of the company traded hands, compared to its average volume of 511,179. Immersion Corporation has a fifty-two week low of $5.25 and a fifty-two week high of $8.05. The firm has a market cap of $255.89 million, a PE ratio of 55.07 and a beta of 1.02. The stock has a fifty day simple moving average of $7.20 and a 200-day simple moving average of $6.55. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.30 and a quick ratio of 1.19.

Immersion (NASDAQ:IMMR) last released its earnings results on Friday, July 24th. The software maker reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. The firm had revenue of $270.00 million during the quarter, compared to the consensus estimate of $230.00 million. Immersion had a return on equity of 0.80% and a net margin of 0.26%. Equities research analysts anticipate that Immersion Corporation will post 0.26 EPS for the current fiscal year.

Immersion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 20th were issued a $0.075 dividend. The ex-dividend date was Monday, July 20th. This represents a $0.30 annualized dividend and a dividend yield of 3.9%. Immersion’s dividend payout ratio is 214.29%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Weiss Ratings cut shares of Immersion from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Wall Street Zen raised shares of Immersion from a “sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Zacks Research upgraded shares of Immersion to a “hold” rating in a report on Friday, May 8th. Finally, BWS Financial reissued a “buy” rating and set a $13.50 target price on shares of Immersion in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $13.50.

Hedge Funds Weigh In On Immersion

Hedge funds have recently modified their holdings of the stock. Caitlin John LLC acquired a new stake in shares of Immersion during the second quarter worth $27,000. Strs Ohio acquired a new position in shares of Immersion in the 1st quarter valued at $27,000. Russell Investments Group Ltd. increased its stake in Immersion by 85.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,429 shares of the software maker’s stock worth $33,000 after purchasing an additional 2,041 shares in the last quarter. Persistent Asset Partners Ltd purchased a new position in Immersion in the 2nd quarter worth about $41,000. Finally, Optiver Holding B.V. raised its holdings in Immersion by 1,681.2% during the 1st quarter. Optiver Holding B.V. now owns 7,855 shares of the software maker’s stock worth $43,000 after buying an additional 7,414 shares during the period. 60.57% of the stock is currently owned by institutional investors and hedge funds.

Immersion Company Profile

Immersion Corporation is a technology company specializing in the development and licensing of haptic feedback solutions. The company’s proprietary software and hardware technologies enable devices to simulate the sense of touch, enhancing user experiences across a range of electronic products. Immersion’s core offerings include touch-feedback algorithms, software development kits, and reference designs that can be integrated into smartphones, gaming controllers, wearable devices, automotive infotainment systems, medical simulators and virtual or augmented reality platforms.

Since its founding in 1993, Immersion has built an extensive intellectual property portfolio of more than 950 issued patents worldwide.