Immersion (NASDAQ:IMMR) Insider Toro 18 Holdings Llc Sells 105,541 Shares

Immersion Corporation (NASDAQ:IMMR) insider Toro 18 Holdings Llc sold 105,541 shares of the firm’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $4.63, for a total value of $488,654.83. Following the completion of the sale, the insider directly owned 1,101,832 shares of the company’s stock, valued at approximately $5,101,482.16. This trade represents a 8.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Toro 18 Holdings Llc also recently made the following trade(s):

• On Thursday, September 10th, Toro 18 Holdings Llc sold 24,459 shares of Immersion stock. The stock was sold at an average price of $4.66, for a total transaction of $113,978.94.
• On Thursday, September 3rd, Toro 18 Holdings Llc sold 3,900 shares of Immersion stock. The shares were sold at an average price of $4.55, for a total transaction of $17,745.00.
• 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 stock was 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 17th, Toro 18 Holdings Llc sold 43,596 shares of Immersion stock. The shares were 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 shares were sold at an average price of $5.22, for a total value of $1,044,000.00.

Immersion Price Performance

NASDAQ:IMMR opened at $7.40 on Friday. The company has a current ratio of 2.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.13. The firm has a market cap of $245.63 million, a price-to-earnings ratio of 52.86 and a beta of 1.02. The company’s 50-day moving average is $7.28 and its two-hundred day moving average is $6.61. Immersion Corporation has a 12-month low of $5.25 and a 12-month high of $8.05.

Immersion (NASDAQ:IMMR) last announced its earnings results on Friday, July 24th. The software maker reported $0.12 earnings per share (EPS) for the quarter, topping 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 net margin of 0.26% and a return on equity of 0.80%. Research analysts expect that Immersion Corporation will post 0.26 EPS for the current year.

Immersion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 20th were given a $0.075 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.1%. Immersion’s payout ratio is currently 214.29%.

Institutional Investors Weigh In On Immersion

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Immersion by 253.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,485 shares of the software maker’s stock worth $466,000 after purchasing an additional 44,112 shares during the period. XTX Topco Ltd purchased a new stake in shares of Immersion during the 2nd quarter worth about $80,000. Quantbot Technologies LP grew its holdings in shares of Immersion by 212.3% during the 2nd quarter. Quantbot Technologies LP now owns 45,162 shares of the software maker’s stock worth $356,000 after purchasing an additional 30,703 shares during the period. Invesco Ltd. increased its position in Immersion by 16.2% during the 2nd quarter. Invesco Ltd. now owns 20,682 shares of the software maker’s stock worth $163,000 after purchasing an additional 2,886 shares in the last quarter. Finally, Jump Financial LLC increased its position in Immersion by 439.8% during the 2nd quarter. Jump Financial LLC now owns 126,637 shares of the software maker’s stock worth $998,000 after purchasing an additional 103,176 shares in the last quarter. 60.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IMMR has been the topic of several recent analyst reports. Weiss Ratings downgraded Immersion from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded Immersion from a “sell” rating to a “hold” rating in a report on Tuesday, July 28th. Finally, BWS Financial reaffirmed a “buy” rating and set a $13.50 price objective 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 issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $13.50.

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.