Toro 18 Holdings Llc Purchases 59,146 Shares of Immersion Co. (NASDAQ:IMMR) Stock

Immersion Co. (NASDAQ:IMMR) Director Toro 18 Holdings Llc purchased 59,146 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $8.49 per share, with a total value of $502,149.54. Following the transaction, the director now directly owns 11,065,848 shares of the company’s stock, valued at approximately $93,949,049.52. This represents a 0.54 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Immersion Price Performance

IMMR opened at $7.60 on Monday. Immersion Co. has a one year low of $7.06 and a one year high of $13.94. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.65 and a quick ratio of 0.94. The company’s 50 day simple moving average is $8.31 and its 200-day simple moving average is $8.61. The stock has a market capitalization of $245.30 million, a P/E ratio of 2.71 and a beta of 1.55.

Immersion (NASDAQ:IMMR) last released its quarterly earnings results on Wednesday, March 12th. The software maker reported $0.47 EPS for the quarter, beating the consensus estimate of $0.14 by $0.33. Immersion had a net margin of 11.79% and a return on equity of 28.08%. The business had revenue of $474.76 million for the quarter, compared to analysts’ expectations of $9.45 million. Sell-side analysts anticipate that Immersion Co. will post 1.57 earnings per share for the current fiscal year.

Immersion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 14th will be paid a $0.045 dividend. The ex-dividend date is Monday, April 14th. This represents a $0.18 dividend on an annualized basis and a yield of 2.37%. Immersion’s payout ratio is presently 4.64%.

Wall Street Analyst Weigh In

IMMR has been the subject of several recent research reports. BWS Financial reissued a “buy” rating and issued a $13.50 price target on shares of Immersion in a research report on Thursday. Craig Hallum dropped their price objective on shares of Immersion from $14.00 to $11.00 and set a “buy” rating for the company in a report on Thursday.

Hedge Funds Weigh In On Immersion

A number of hedge funds and other institutional investors have recently bought and sold shares of IMMR. Millennium Management LLC boosted its stake in Immersion by 128.3% in the fourth quarter. Millennium Management LLC now owns 794,767 shares of the software maker’s stock valued at $6,938,000 after acquiring an additional 446,623 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in Immersion in the third quarter valued at approximately $3,113,000. Kanen Wealth Management LLC boosted its stake in Immersion by 84.6% in the fourth quarter. Kanen Wealth Management LLC now owns 600,000 shares of the software maker’s stock valued at $5,238,000 after acquiring an additional 275,000 shares during the last quarter. Raymond James Financial Inc. bought a new position in Immersion in the fourth quarter valued at approximately $1,644,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Immersion during the third quarter worth $740,000. 60.57% of the stock is owned by institutional investors.

About Immersion

Immersion Corporation, together with its subsidiaries, engages in the creation, design, development, and licensing of haptic technologies that allow people to use their sense of touch to engage with and experience various digital products in North America, Europe, and Asia. The company provides technology, patent, and combined licenses.