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 that occurred 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 transaction, the insider owned 1,301,051 shares of the company’s stock, valued at approximately $6,830,517.75. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares 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 stock was 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 stock was sold at an average price of $5.22, for a total value of $1,044,000.00.

Immersion Stock Up 0.8%

Shares of NASDAQ IMMR traded up $0.06 during trading hours on Wednesday, hitting $7.59. The company had a trading volume of 408,348 shares, compared to its average volume of 708,495. The stock has a market capitalization of $251.91 million, a P/E ratio of 54.21 and a beta of 1.02. 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 Corporation has a 1-year low of $5.25 and a 1-year high of $8.05. The firm’s 50 day moving average is $6.97 and its 200-day moving average is $6.47.

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

Immersion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, July 20th were paid a $0.075 dividend. 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 (DPR) is currently 214.29%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. 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. Zacks Research upgraded 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 research report on Tuesday, August 11th. Finally, Wall Street Zen upgraded 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 issued a Hold rating to the stock. Based on data from MarketBeat, Immersion has a consensus rating of “Hold” and a consensus price target of $13.50.

Institutional Inflows and Outflows

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

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.