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

Immersion Corporation (NASDAQ:IMMR) insider Toro 18 Holdings Llc sold 3,900 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $4.55, for a total transaction of $17,745.00. Following the completion of the sale, the insider owned 1,231,832 shares of the company’s stock, valued at approximately $5,604,835.60. The trade was a 0.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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 value of $193,707.59.
• 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 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 17th, Toro 18 Holdings Llc sold 43,596 shares of Immersion stock. The stock was 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 Stock Up 2.0%

Shares of NASDAQ:IMMR opened at $7.71 on Friday. Immersion Corporation has a 52-week low of $5.25 and a 52-week high of $8.05. The stock has a market cap of $255.89 million, a P/E ratio of 55.07 and a beta of 1.02. The business has a fifty day moving average of $7.21 and a two-hundred day moving average of $6.56. The company has a quick ratio of 1.19, a current ratio of 2.30 and a debt-to-equity ratio of 0.13.

Immersion (NASDAQ:IMMR) last announced its quarterly earnings results on Friday, July 24th. The software maker reported $0.12 earnings per share for the quarter, beating 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 firm had revenue of $270.00 million for the quarter, compared to analysts’ expectations of $230.00 million. On average, research analysts expect that Immersion Corporation will post 0.26 earnings per share for the current year.

Immersion Announces Dividend

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Immersion

Several institutional investors have recently added to or reduced their stakes in IMMR. Kanen Wealth Management LLC lifted its position in Immersion by 51.0% during the 1st quarter. Kanen Wealth Management LLC now owns 709,000 shares of the software maker’s stock worth $3,871,000 after acquiring an additional 239,318 shares during the period. BlackRock Inc. purchased a new position in shares of Immersion during the 2nd quarter worth $16,527,000. Callan Family Office LLC acquired a new stake in Immersion in the 2nd quarter worth about $458,000. Tower Research Capital LLC TRC grew its holdings in Immersion by 677.7% in the second quarter. Tower Research Capital LLC TRC now owns 7,738 shares of the software maker’s stock valued at $61,000 after purchasing an additional 6,743 shares during the period. Finally, Russell Investments Group Ltd. grew its stake 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 buying an additional 2,041 shares during the period. Hedge funds and other institutional investors own 60.57% of the company’s stock.

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.