Toro 18 Holdings Llc Sells 200,000 Shares of Immersion (NASDAQ:IMMR) Stock

Immersion Corporation (NASDAQ:IMMR) major shareholder Toro 18 Holdings Llc sold 200,000 shares of the business’s 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 sale, 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 SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Immersion Trading Up 0.5%

Shares of Immersion stock opened at $7.47 on Friday. 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 company has a fifty day simple moving average of $6.89 and a 200-day simple moving average of $6.44. The stock has a market cap of $247.93 million, a price-to-earnings ratio of 53.36 and a beta of 1.02. Immersion Corporation has a 12-month low of $5.25 and a 12-month high of $8.05.

Immersion (NASDAQ:IMMR) last announced 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 firm had revenue of $270.00 million for the quarter, compared to analyst estimates of $230.00 million. On average, equities analysts forecast that Immersion Corporation will post 0.26 EPS for the current fiscal year.

Immersion Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 20th were issued a $0.075 dividend. 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%.

Institutional Investors Weigh In On Immersion

Several hedge funds have recently made changes to their positions in IMMR. Russell Investments Group Ltd. grew its holdings 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 last quarter. Strs Ohio purchased a new stake in Immersion during the 1st quarter valued at approximately $27,000. Persistent Asset Partners Ltd acquired a new stake in Immersion during the 2nd quarter worth approximately $41,000. Tower Research Capital LLC TRC lifted its position in Immersion by 677.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,738 shares of the software maker’s stock worth $61,000 after acquiring an additional 6,743 shares during the period. Finally, Optiver Holding B.V. grew its stake 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 valued at $43,000 after purchasing an additional 7,414 shares during the last quarter. Institutional investors and hedge funds own 60.57% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.