Insider Selling: Immersion (NASDAQ:IMMR) Major Shareholder Sells $1,044,000.00 in Stock

Immersion Corporation (NASDAQ:IMMR) major shareholder Toro 18 Holdings Llc sold 200,000 shares of Immersion stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $5.22, for a total transaction of $1,044,000.00. Following the completion of the transaction, the insider owned 1,344,647 shares of the company’s stock, valued at $7,019,057.34. This represents a 12.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Immersion Trading Up 0.4%

Shares of NASDAQ:IMMR opened at $7.50 on Friday. Immersion Corporation has a 52 week low of $5.25 and a 52 week high of $8.05. The company’s 50 day moving average is $6.91 and its two-hundred day moving average is $6.45. The company has a market cap of $248.92 million, a PE ratio of 53.57 and a beta of 1.02. The company has a current ratio of 2.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.13.

Immersion (NASDAQ:IMMR) last released its quarterly earnings data on Friday, July 24th. The software maker reported $0.12 earnings per share (EPS) for the quarter, topping 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 business had revenue of $270.00 million during the quarter, compared to analysts’ expectations of $230.00 million. Equities analysts predict that Immersion Corporation will post 0.26 earnings per share for the current fiscal year.

Immersion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 20th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, July 20th. Immersion’s dividend payout ratio (DPR) is 214.29%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Immersion

A number of hedge funds have recently modified their holdings of the business. Strs Ohio acquired a new stake in Immersion during the 1st quarter worth $27,000. Russell Investments Group Ltd. raised its holdings in shares of Immersion by 85.5% in the third quarter. Russell Investments Group Ltd. now owns 4,429 shares of the software maker’s stock valued at $33,000 after buying an additional 2,041 shares during the last quarter. Persistent Asset Partners Ltd purchased a new stake in shares of Immersion in the second quarter valued at about $41,000. Optiver Holding B.V. grew its holdings in shares of Immersion by 1,681.2% during the first quarter. Optiver Holding B.V. now owns 7,855 shares of the software maker’s stock worth $43,000 after buying an additional 7,414 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Immersion by 677.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,738 shares of the software maker’s stock valued at $61,000 after acquiring an additional 6,743 shares during the period. 60.57% of the stock is currently owned by hedge funds and other institutional investors.

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.