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

Immersion Corporation (NASDAQ:IMMR) major shareholder Toro 18 Holdings Llc sold 43,596 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $5.25, for a total transaction of $228,879.00. Following the completion of the sale, the insider 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 position. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s shares 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 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 shares were sold at an average price of $4.95, for a total transaction 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 transaction of $1,044,000.00.

Immersion Trading Up 0.8%

IMMR stock traded up $0.06 during trading on Wednesday, hitting $7.59. The company had a trading volume of 408,348 shares, compared to its average volume of 708,495. The firm has a 50-day moving average price of $6.97 and a 200-day moving average price of $6.47. Immersion Corporation has a 12 month low of $5.25 and a 12 month high of $8.05. The company has a quick ratio of 1.19, a current ratio of 2.30 and a debt-to-equity ratio of 0.13. The stock has a market cap of $251.91 million, a price-to-earnings ratio of 54.21 and a beta of 1.02.

Immersion (NASDAQ:IMMR) last announced its quarterly earnings data on Friday, July 24th. The software maker reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. The firm had revenue of $270.00 million for the quarter, compared to analyst estimates of $230.00 million. Immersion had a return on equity of 0.80% and a net margin of 0.26%. As a group, analysts predict that Immersion Corporation will post 0.26 earnings per share 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 given 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 4.0%. Immersion’s dividend payout ratio is presently 214.29%.

Analysts Set New Price Targets

IMMR has been the topic of a number of recent research reports. Zacks Research raised shares of Immersion to a “hold” rating in a research note on Friday, May 8th. Weiss Ratings downgraded Immersion from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Wall Street Zen upgraded Immersion from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, BWS Financial restated a “buy” rating and set a $13.50 price objective on shares of Immersion in a report 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. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $13.50.

Institutional Trading of Immersion

A number of institutional investors have recently made changes to their positions in IMMR. Caitlin John LLC bought a new position in Immersion in the second quarter valued at $27,000. Russell Investments Group Ltd. lifted its position in Immersion by 85.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,429 shares of the software maker’s stock worth $33,000 after buying an additional 2,041 shares in the last quarter. Strs Ohio bought a new stake in Immersion during the 1st quarter worth about $27,000. Persistent Asset Partners Ltd acquired a new position in shares of Immersion during the 2nd quarter worth about $41,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Immersion by 677.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,738 shares of the software maker’s stock valued at $61,000 after acquiring an additional 6,743 shares in the last quarter. Institutional investors own 60.57% of the company’s stock.

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.