Toro 18 Holdings Llc Sells 15,000 Shares of Immersion (NASDAQ:IMMR) Stock

Immersion Corporation (NASDAQ:IMMR) major shareholder Toro 18 Holdings Llc sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $4.95, for a total transaction of $74,250.00. Following the transaction, the insider owned 1,286,051 shares in the company, valued at $6,365,952.45. The trade was a 1.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• 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 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 shares were sold at an average price of $5.22, for a total value of $1,044,000.00.

Immersion Stock Performance

Shares of IMMR stock opened at $7.72 on Friday. The firm has a market capitalization of $256.23 million, a price-to-earnings ratio of 55.14 and a beta of 1.02. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.30 and a quick ratio of 1.19. The business has a fifty day moving average of $6.99 and a 200 day moving average of $6.47. Immersion Corporation has a 1 year low of $5.25 and a 1 year high of $8.05.

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

Immersion Announces Dividend

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

Hedge Funds Weigh In On Immersion

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Immersion during the second quarter worth $16,527,000. Kanen Wealth Management LLC increased its holdings in Immersion by 51.0% in the first quarter. Kanen Wealth Management LLC now owns 709,000 shares of the software maker’s stock valued at $3,871,000 after buying an additional 239,318 shares in the last quarter. Millennium Management LLC raised its position in shares of Immersion by 121.5% in the third quarter. Millennium Management LLC now owns 536,733 shares of the software maker’s stock worth $3,940,000 after acquiring an additional 294,393 shares during the period. Qube Research & Technologies Ltd raised its position in shares of Immersion by 20.5% in the second quarter. Qube Research & Technologies Ltd now owns 501,563 shares of the software maker’s stock worth $3,952,000 after acquiring an additional 85,196 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Immersion during the 2nd quarter worth about $2,128,000. 60.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.