Insider Selling: Immersion (NASDAQ:IMMR) Insider Sells $17,745.00 in Stock

Immersion Corporation (NASDAQ:IMMR) insider Toro 18 Holdings Llc sold 3,900 shares of the business’s stock in a transaction on 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 transaction, the insider directly owned 1,231,832 shares of the company’s stock, valued at $5,604,835.60. This trade represents a 0.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 Performance

Shares of IMMR stock opened at $7.71 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.19 and a current ratio of 2.30. The company has a market capitalization of $255.89 million, a P/E ratio of 55.07 and a beta of 1.02. The company’s 50 day moving average price is $7.21 and its two-hundred day moving average price is $6.56. Immersion Corporation has a 52 week low of $5.25 and a 52 week high of $8.05.

Immersion (NASDAQ:IMMR) last released 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 company had revenue of $270.00 million during the quarter, compared to analysts’ expectations of $230.00 million. On average, analysts expect that Immersion Corporation will post 0.26 earnings per share for the current fiscal year.

Immersion Dividend Announcement

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

Institutional Trading of Immersion

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of Immersion during the 2nd quarter worth about $16,527,000. Bank of New York Mellon Corp acquired a new stake in shares of Immersion in the second quarter valued at about $2,128,000. Millennium Management LLC raised its holdings in Immersion by 121.5% during the third quarter. Millennium Management LLC now owns 536,733 shares of the software maker’s stock worth $3,940,000 after acquiring an additional 294,393 shares in the last quarter. Kanen Wealth Management LLC raised its holdings in Immersion by 51.0% during the first 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 in the last quarter. Finally, Numerai GP LLC raised its holdings in Immersion by 810.5% during the third quarter. Numerai GP LLC now owns 189,059 shares of the software maker’s stock worth $1,388,000 after acquiring an additional 168,294 shares in the last quarter. Institutional investors own 60.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on IMMR shares. BWS Financial reiterated a “buy” rating and set a $13.50 target price on shares of Immersion in a report on Tuesday, July 28th. Wall Street Zen upgraded Immersion from a “sell” rating to a “hold” rating in a report on Tuesday, July 28th. Finally, Weiss Ratings cut Immersion from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently 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.