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 firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $4.61, for a total transaction of $193,707.59. Following the completion of the transaction, the insider directly owned 1,235,732 shares in the company, valued at approximately $5,696,724.52. This represents a 3.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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 stock was 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 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 value 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 value 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 value of $1,044,000.00.

Immersion Price Performance

Shares of NASDAQ IMMR opened at $7.71 on Friday. 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 Corporation has a 1-year low of $5.25 and a 1-year high of $8.05. The company has a market capitalization of $255.92 million, a price-to-earnings ratio of 55.07 and a beta of 1.02. The business has a 50-day moving average of $7.21 and a 200-day moving average of $6.56.

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

Immersion Announces Dividend

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

Analyst Ratings Changes

IMMR has been the subject of a number of recent research reports. BWS Financial restated a “buy” rating and set a $13.50 price objective on shares of Immersion in a research note on Tuesday, July 28th. Weiss Ratings cut Immersion from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen raised shares of Immersion from a “sell” rating to a “hold” rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $13.50.

Hedge Funds Weigh In On Immersion

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

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.