Immersion (NASDAQ:IMMR) Insider Toro 18 Holdings Llc Sells 24,459 Shares

Immersion Corporation (NASDAQ:IMMR) insider Toro 18 Holdings Llc sold 24,459 shares of Immersion stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $4.66, for a total transaction of $113,978.94. Following the completion of the transaction, the insider directly owned 1,207,373 shares of the company’s stock, valued at $5,626,358.18. This trade represents a 1.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Friday, September 11th, Toro 18 Holdings Llc sold 105,541 shares of Immersion stock. The shares were sold at an average price of $4.63, for a total transaction of $488,654.83.
• 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 transaction 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 0.5%

IMMR stock opened at $7.40 on Friday. The stock has a market capitalization of $245.63 million, a P/E ratio of 52.86 and a beta of 1.02. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.30 and a quick ratio of 1.19. Immersion Corporation has a 1-year low of $5.25 and a 1-year high of $8.05. The business has a fifty day moving average price of $7.28 and a 200-day moving average price of $6.61.

Immersion (NASDAQ:IMMR) last released its quarterly earnings data on Friday, July 24th. The software maker reported $0.12 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $230.00 million. Equities analysts forecast that Immersion Corporation will post 0.26 earnings per share for the current fiscal year.

Immersion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 20th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, July 20th. Immersion’s dividend payout ratio (DPR) is presently 214.29%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on IMMR shares. BWS Financial reiterated a “buy” rating and issued a $13.50 price target on shares of Immersion in a research note on Tuesday, July 28th. Weiss Ratings cut shares of Immersion from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen raised shares of Immersion from a “sell” rating to a “hold” rating in a research 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.com, the company presently has an average rating of “Hold” and an average target price of $13.50.

Hedge Funds Weigh In On Immersion

Institutional investors have recently made changes to their positions in the business. Kanen Wealth Management LLC grew its position in Immersion by 51.0% during the first quarter. Kanen Wealth Management LLC now owns 709,000 shares of the software maker’s stock valued at $3,871,000 after buying an additional 239,318 shares during the period. BlackRock Inc. bought a new position in Immersion in the second quarter worth approximately $16,527,000. Bank of New York Mellon Corp bought a new position in Immersion in the second quarter worth approximately $2,128,000. Callan Family Office LLC purchased a new position in shares of Immersion during the 2nd quarter worth $458,000. Finally, Two Sigma Securities LLC purchased a new position in shares of Immersion during the 2nd quarter worth $71,000. 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.