Toro 18 Holdings Llc Sells 43,596 Shares of Immersion (NASDAQ:IMMR) Stock

Immersion Corporation (NASDAQ:IMMR) major shareholder Toro 18 Holdings Llc sold 43,596 shares of Immersion stock in a transaction on Monday, August 17th. The shares were sold at an average price of $5.25, for a total value of $228,879.00. Following the completion of the sale, the insider directly owned 1,301,051 shares of the company’s stock, valued at $6,830,517.75. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions 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 value 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 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

NASDAQ IMMR opened at $7.72 on Friday. The company has a market cap of $256.23 million, a P/E 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 stock has a 50-day moving average of $6.99 and a two-hundred 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.07. Immersion had a net margin of 0.26% and a return on equity of 0.80%. The business had revenue of $270.00 million for the quarter, compared to analysts’ expectations of $230.00 million. As a group, analysts anticipate that Immersion Corporation will post 0.26 EPS for the current year.

Immersion Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on IMMR shares. Wall Street Zen upgraded shares of Immersion from a “sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Zacks Research upgraded Immersion to a “hold” rating in a research note on Friday, May 8th. Weiss Ratings lowered Immersion from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. 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 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, Immersion currently has a consensus rating of “Hold” and a consensus price target of $13.50.

Hedge Funds Weigh In On Immersion

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Immersion by 253.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,485 shares of the software maker’s stock worth $466,000 after buying an additional 44,112 shares during the period. XTX Topco Ltd acquired a new stake in shares of Immersion in the second quarter valued at approximately $80,000. Quantbot Technologies LP boosted its holdings in shares of Immersion by 212.3% in the second quarter. Quantbot Technologies LP now owns 45,162 shares of the software maker’s stock valued at $356,000 after acquiring an additional 30,703 shares during the period. Invesco Ltd. grew its position in shares of Immersion by 16.2% during the second quarter. Invesco Ltd. now owns 20,682 shares of the software maker’s stock worth $163,000 after acquiring an additional 2,886 shares during the last quarter. Finally, Jump Financial LLC grew its position in shares of Immersion by 439.8% during the second quarter. Jump Financial LLC now owns 126,637 shares of the software maker’s stock worth $998,000 after acquiring an additional 103,176 shares during the last quarter. 60.57% of the stock is 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.