Toro 18 Holdings Llc Sells 3,900 Shares of Immersion (NASDAQ:IMMR) Stock

Immersion Corporation (NASDAQ:IMMR) insider Toro 18 Holdings Llc sold 3,900 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $4.55, for a total value of $17,745.00. Following the transaction, the insider owned 1,231,832 shares of the company’s stock, valued at approximately $5,604,835.60. This trade represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, September 2nd, Toro 18 Holdings Llc sold 42,019 shares of Immersion stock. The stock was sold at an average price of $4.61, for a total transaction of $193,707.59.
• On Wednesday, August 19th, Toro 18 Holdings Llc sold 8,300 shares of Immersion stock. The stock was 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 shares were 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 shares were 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 stock was sold at an average price of $5.22, for a total transaction of $1,044,000.00.

Immersion Stock Performance

Shares of NASDAQ IMMR opened at $7.71 on Friday. The stock has a market cap of $255.92 million, a PE ratio of 55.07 and a beta of 1.02. Immersion Corporation has a 1 year low of $5.25 and a 1 year high of $8.05. The firm has a fifty day moving average price of $7.21 and a 200-day moving average price of $6.56. 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, beating analysts’ consensus estimates of $0.05 by $0.07. Immersion had a net margin of 0.26% and a return on equity of 0.80%. The company had revenue of $270.00 million for the quarter, compared to analysts’ expectations of $230.00 million. Equities analysts anticipate that Immersion Corporation will post 0.26 earnings per share for the current fiscal year.

Immersion Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kanen Wealth Management LLC raised its position in Immersion by 51.0% during the first quarter. Kanen Wealth Management LLC now owns 709,000 shares of the software maker’s stock valued at $3,871,000 after purchasing an additional 239,318 shares during the period. BlackRock Inc. purchased a new position in shares of Immersion in the 2nd quarter worth approximately $16,527,000. Callan Family Office LLC bought a new position in shares of Immersion during the 2nd quarter valued at approximately $458,000. Caitlin John LLC bought a new position in shares of Immersion during the 2nd quarter valued at approximately $27,000. Finally, Perennial Investment Advisors LLC bought a new position in shares of Immersion during the 2nd quarter valued at approximately $139,000. Hedge funds and other institutional investors own 60.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wall Street Zen raised Immersion from a “sell” rating to a “hold” rating in a report on Tuesday, July 28th. BWS Financial reissued a “buy” rating and set a $13.50 price objective on shares of Immersion in a report on Tuesday, July 28th. Finally, Weiss Ratings lowered Immersion from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $13.50.

About Immersion

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.