Immersion (NASDAQ:IMMR) Major Shareholder Toro 18 Holdings Llc Sells 15,000 Shares

Immersion Corporation (NASDAQ:IMMR) major shareholder Toro 18 Holdings Llc sold 15,000 shares of Immersion stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $4.95, for a total value of $74,250.00. Following the transaction, the insider owned 1,286,051 shares in the company, valued at approximately $6,365,952.45. This represents a 1.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• 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 transaction of $40,089.00.
• 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 transaction 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 transaction of $1,044,000.00.

Immersion Price Performance

Immersion stock opened at $7.59 on Thursday. Immersion Corporation has a 12-month low of $5.25 and a 12-month high of $8.05. The stock has a market cap of $251.91 million, a P/E ratio of 54.21 and a beta of 1.02. The company has a 50-day moving average price of $6.97 and a 200 day moving average price of $6.47. 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 issued its earnings results on Friday, July 24th. The software maker reported $0.12 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $230.00 million. Sell-side analysts anticipate that Immersion Corporation will post 0.26 earnings per share for the current year.

Immersion Announces Dividend

The company also recently declared 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 payout ratio is presently 214.29%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IMMR. Zacks Research upgraded Immersion to a “hold” rating in a research report on Friday, May 8th. Weiss Ratings lowered Immersion from a “hold (c)” rating to a “hold (c-)” rating in a research note 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 reiterated a “buy” rating and set a $13.50 price target on shares of Immersion in a report on Tuesday, July 28th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $13.50.

Hedge Funds Weigh In On Immersion

Several large investors have recently made changes to their positions in the stock. Strs Ohio acquired a new stake in Immersion in the 1st quarter valued at approximately $27,000. Caitlin John LLC purchased a new position in shares of Immersion during the second quarter worth $27,000. Russell Investments Group Ltd. boosted its position in shares of Immersion by 85.5% during the third quarter. Russell Investments Group Ltd. now owns 4,429 shares of the software maker’s stock worth $33,000 after buying an additional 2,041 shares during the period. Persistent Asset Partners Ltd acquired a new stake in shares of Immersion in the second quarter valued at $41,000. Finally, Optiver Holding B.V. grew its stake in shares of Immersion by 1,681.2% in the first quarter. Optiver Holding B.V. now owns 7,855 shares of the software maker’s stock valued at $43,000 after buying an additional 7,414 shares in the last quarter. 60.57% of the stock is currently owned by institutional investors and hedge funds.

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.