Immersion (NASDAQ:IMMR) Major Shareholder Toro 18 Holdings Llc Sells 8,300 Shares

Immersion Corporation (NASDAQ:IMMR) major shareholder Toro 18 Holdings Llc sold 8,300 shares of Immersion stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $4.83, for a total transaction of $40,089.00. Following the completion of the transaction, the insider directly owned 1,277,751 shares of the company’s stock, valued at approximately $6,171,537.33. This represents a 0.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more 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 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 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 transaction of $1,044,000.00.

Immersion Stock Performance

Shares of NASDAQ IMMR opened at $7.59 on Thursday. Immersion Corporation has a 1 year low of $5.25 and a 1 year high of $8.05. The firm has a market cap of $251.91 million, a P/E ratio of 54.21 and a beta of 1.02. The stock has a fifty day moving average price of $6.97 and a two-hundred day moving average price of $6.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.19 and a current ratio of 2.30.

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. Immersion had a return on equity of 0.80% and a net margin of 0.26%.The company had revenue of $270.00 million during the quarter, compared to the consensus estimate of $230.00 million. Research analysts forecast that Immersion Corporation will post 0.26 EPS for the current fiscal year.

Immersion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Monday, July 20th were issued 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 is currently 214.29%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Immersion

Large investors have recently made changes to their positions in the stock. Strs Ohio acquired a new stake in shares of Immersion in the first quarter valued at approximately $27,000. Caitlin John LLC acquired a new position in Immersion during the second quarter valued at approximately $27,000. Russell Investments Group Ltd. increased 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 worth $33,000 after purchasing 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 approximately $41,000. Finally, Optiver Holding B.V. grew its stake in shares of Immersion by 1,681.2% in the first quarter. Optiver Holding B.V. now owns 7,855 shares of the software maker’s stock valued at $43,000 after buying an additional 7,414 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.