Insider Selling: Immersion (NASDAQ:IMMR) Insider Sells $113,978.94 in Stock

Immersion Corporation (NASDAQ:IMMR) insider Toro 18 Holdings Llc sold 24,459 shares of Immersion stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $4.66, for a total transaction of $113,978.94. Following the sale, the insider owned 1,207,373 shares in the company, valued at approximately $5,626,358.18. This trade represents a 1.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, September 11th, Toro 18 Holdings Llc sold 105,541 shares of Immersion stock. The stock was sold at an average price of $4.63, for a total transaction of $488,654.83.
• On Thursday, September 3rd, Toro 18 Holdings Llc sold 3,900 shares of Immersion stock. The shares were sold at an average price of $4.55, for a total value of $17,745.00.
• On Wednesday, September 2nd, Toro 18 Holdings Llc sold 42,019 shares of Immersion stock. The shares were sold at an average price of $4.61, for a total value of $193,707.59.
• 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 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 stock was sold at an average price of $5.22, for a total value of $1,044,000.00.

Immersion Price Performance

Immersion stock opened at $7.40 on Monday. Immersion Corporation has a 52 week low of $5.25 and a 52 week high of $8.05. The firm has a market cap of $245.61 million, a P/E ratio of 52.86 and a beta of 1.02. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.19 and a current ratio of 2.30. The business’s fifty day moving average is $7.28 and its two-hundred day moving average is $6.61.

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

Immersion Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Monday, July 20th. Immersion’s dividend payout ratio is presently 214.29%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on IMMR shares. Weiss Ratings cut shares of Immersion from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. 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 target price on shares of Immersion in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Immersion presently has an average rating of “Hold” and a consensus price target of $13.50.

Institutional Investors Weigh In On Immersion

Several institutional investors have recently modified their holdings of IMMR. BlackRock Inc. acquired a new position in Immersion in the second quarter valued at approximately $16,527,000. Bank of New York Mellon Corp acquired a new stake in Immersion during the 2nd quarter worth $2,128,000. Millennium Management LLC grew its holdings in Immersion by 121.5% during the 3rd quarter. Millennium Management LLC now owns 536,733 shares of the software maker’s stock worth $3,940,000 after acquiring an additional 294,393 shares during the period. Kanen Wealth Management LLC raised its position in shares of Immersion by 51.0% during the 1st quarter. Kanen Wealth Management LLC now owns 709,000 shares of the software maker’s stock valued at $3,871,000 after acquiring an additional 239,318 shares during the last quarter. Finally, Numerai GP LLC lifted its stake in shares of Immersion by 810.5% in the 3rd quarter. Numerai GP LLC now owns 189,059 shares of the software maker’s stock valued at $1,388,000 after purchasing an additional 168,294 shares during the period. 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.