Immersion (NASDAQ:IMMR) Major Shareholder Toro 18 Holdings Llc Sells 8,300 Shares of Stock

Immersion Corporation (NASDAQ:IMMR) major shareholder Toro 18 Holdings Llc sold 8,300 shares of Immersion stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $4.83, for a total value of $40,089.00. Following the sale, the insider directly owned 1,277,751 shares in the company, valued at $6,171,537.33. The trade was a 0.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Tuesday, August 18th, Toro 18 Holdings Llc sold 15,000 shares of Immersion stock. The stock was sold at an average price of $4.95, for a total transaction of $74,250.00.
• 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 value 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 Stock Up 0.8%

NASDAQ:IMMR traded up $0.06 during trading hours on Wednesday, hitting $7.59. 408,348 shares of the stock traded hands, compared to its average volume of 708,495. The firm has a 50 day moving average price of $6.97 and a 200 day moving average price of $6.47. The firm has a market cap of $251.91 million, a price-to-earnings ratio of 54.21 and a beta of 1.02. Immersion Corporation has a fifty-two week low of $5.25 and a fifty-two week 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.

Immersion (NASDAQ:IMMR) last posted its quarterly earnings results on Friday, July 24th. The software maker reported $0.12 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 research analysts anticipate that Immersion Corporation will post 0.26 earnings per share for the current year.

Immersion Dividend Announcement

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

Hedge Funds Weigh In On Immersion

Large investors have recently bought and sold shares of the business. Strs Ohio bought a new position in Immersion in the first quarter valued at approximately $27,000. Caitlin John LLC bought a new stake in shares of Immersion during the 2nd quarter valued at $27,000. Russell Investments Group Ltd. raised its position in shares of Immersion by 85.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,429 shares of the software maker’s stock valued at $33,000 after acquiring an additional 2,041 shares during the last quarter. Persistent Asset Partners Ltd acquired a new position in shares of Immersion in the 2nd quarter valued at $41,000. Finally, Optiver Holding B.V. boosted its position in shares of Immersion by 1,681.2% in the 1st quarter. Optiver Holding B.V. now owns 7,855 shares of the software maker’s stock worth $43,000 after purchasing an additional 7,414 shares during the last quarter. 60.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on IMMR. Weiss Ratings downgraded Immersion from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Zacks Research raised shares of Immersion to a “hold” rating in a report on Friday, May 8th. Wall Street Zen upgraded Immersion from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, BWS Financial reissued a “buy” rating and issued a $13.50 price objective on shares of Immersion 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 stock presently has an average rating of “Hold” and an average price target of $13.50.

Immersion Company Profile

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.