Toro 18 Holdings Llc Sells 8,300 Shares of Immersion (NASDAQ:IMMR) 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 transaction, the insider owned 1,277,751 shares in the company, valued at $6,171,537.33. This represents a 0.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares 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 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 stock was 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 stock was sold at an average price of $5.22, for a total value of $1,044,000.00.

Immersion Trading Up 1.7%

NASDAQ:IMMR opened at $7.72 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.30 and a quick ratio of 1.19. Immersion Corporation has a fifty-two week low of $5.25 and a fifty-two week high of $8.05. The stock’s 50-day moving average is $6.99 and its two-hundred day moving average is $6.47. The stock has a market cap of $256.23 million, a PE ratio of 55.14 and a beta of 1.02.

Immersion (NASDAQ:IMMR) last issued its earnings results on Friday, July 24th. The software maker reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. The company had revenue of $270.00 million for the quarter, compared to the consensus estimate of $230.00 million. Immersion had a return on equity of 0.80% and a net margin of 0.26%. As a group, 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. Shareholders of record on Monday, July 20th were given a $0.075 dividend. The ex-dividend date was Monday, July 20th. This represents a $0.30 dividend on an annualized basis and a yield of 3.9%. Immersion’s dividend payout ratio is presently 214.29%.

Institutional Investors Weigh In On Immersion

Several institutional investors and hedge funds have recently modified their holdings of IMMR. BlackRock Inc. acquired a new stake in shares of Immersion in the second quarter worth about $16,527,000. Bank of New York Mellon Corp bought a new stake in shares of Immersion during the 2nd quarter worth about $2,128,000. Millennium Management LLC boosted its stake in shares of 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 in the last quarter. Kanen Wealth Management LLC increased its holdings 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 increased its holdings in shares of Immersion by 810.5% during the 3rd quarter. Numerai GP LLC now owns 189,059 shares of the software maker’s stock valued at $1,388,000 after acquiring an additional 168,294 shares during the last quarter. Institutional investors and hedge funds own 60.57% of the company’s stock.

Analyst Ratings Changes

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