Insider Selling: Immersion (NASDAQ:IMMR) Major Shareholder Sells $228,879.00 in Stock

Immersion Corporation (NASDAQ:IMMR) major shareholder Toro 18 Holdings Llc sold 43,596 shares of Immersion stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $5.25, for a total transaction of $228,879.00. Following the completion of the sale, the insider owned 1,301,051 shares of the company’s stock, valued at $6,830,517.75. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major 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 stock was 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 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 value of $1,044,000.00.

Immersion Price Performance

IMMR opened at $7.51 on Friday. The stock’s 50-day moving average price is $7.01 and its 200 day moving average price is $6.48. Immersion Corporation has a 12-month low of $5.25 and a 12-month high of $8.05. The company has a current ratio of 2.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.13. The firm has a market cap of $249.27 million, a price-to-earnings ratio of 53.64 and a beta of 1.02.

Immersion (NASDAQ:IMMR) last announced its earnings results on Friday, July 24th. The software maker reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. The company had revenue of $270.00 million during the quarter, compared to analysts’ expectations of $230.00 million. Immersion had a return on equity of 0.80% and a net margin of 0.26%. As a group, sell-side analysts expect that Immersion Corporation will post 0.26 earnings per share for the current year.

Immersion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Monday, July 20th were issued a $0.075 dividend. The ex-dividend date was Monday, July 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.0%. Immersion’s payout ratio is 214.29%.

Analyst Upgrades and Downgrades

IMMR has been the subject of several recent research reports. Zacks Research raised shares of Immersion to a “hold” rating in a research report on Friday, May 8th. BWS Financial reissued a “buy” rating and set a $13.50 target price on shares of Immersion in a research note on Tuesday, July 28th. Weiss Ratings downgraded Immersion from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen upgraded Immersion from a “sell” rating to a “hold” rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $13.50.

Hedge Funds Weigh In On Immersion

A number of institutional investors and hedge funds have recently modified their holdings of IMMR. Strs Ohio purchased a new stake in Immersion during the 1st quarter worth about $27,000. Caitlin John LLC acquired a new stake in shares of Immersion during the 2nd quarter worth about $27,000. Russell Investments Group Ltd. lifted its stake in 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 purchasing an additional 2,041 shares during the last quarter. Persistent Asset Partners Ltd purchased a new stake in Immersion during the second quarter worth approximately $41,000. Finally, Optiver Holding B.V. boosted its holdings in 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 purchasing an additional 7,414 shares in the last quarter. Institutional investors and hedge funds 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.