Immersion (NASDAQ:IMMR) Major Shareholder Toro 18 Holdings Llc Sells 43,596 Shares

Immersion Corporation (NASDAQ:IMMR) major shareholder Toro 18 Holdings Llc sold 43,596 shares of Immersion stock in a transaction on Monday, August 17th. The stock was sold at an average price of $5.25, for a total value of $228,879.00. Following the sale, the insider directly owned 1,301,051 shares of the company’s stock, valued at $6,830,517.75. This represents a 3.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 Wednesday, August 19th, Toro 18 Holdings Llc sold 8,300 shares of Immersion stock. The shares were sold at an average price of $4.83, for a total transaction of $40,089.00.
• 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 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 Performance

Shares of NASDAQ:IMMR opened at $7.59 on Thursday. Immersion Corporation has a 12-month low of $5.25 and a 12-month high of $8.05. The company’s 50 day moving average price is $6.97 and its two-hundred day moving average price is $6.47. The firm has a market cap of $251.91 million, a PE ratio of 54.21 and a beta of 1.02. The company has a quick ratio of 1.19, a current ratio of 2.30 and a debt-to-equity ratio of 0.13.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings results on Friday, July 24th. The software maker reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate 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 predict that Immersion Corporation will post 0.26 earnings per share for the current year.

Immersion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 20th were issued a dividend of $0.075 per share. 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 dividend payout ratio is 214.29%.

Analysts Set New Price Targets

Several equities 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. Zacks Research raised shares of Immersion to a “hold” rating in a report on Friday, May 8th. BWS Financial reiterated a “buy” rating and set a $13.50 price target on shares of Immersion in a research report on Tuesday, July 28th. Finally, Wall Street Zen upgraded shares of Immersion from a “sell” rating to a “hold” rating in a research report 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 data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $13.50.

Institutional Trading of Immersion

Hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Immersion by 253.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,485 shares of the software maker’s stock worth $466,000 after buying an additional 44,112 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Immersion during the 2nd quarter valued at $80,000. Quantbot Technologies LP grew its position in Immersion by 212.3% during the 2nd quarter. Quantbot Technologies LP now owns 45,162 shares of the software maker’s stock worth $356,000 after acquiring an additional 30,703 shares during the last quarter. Invesco Ltd. increased its holdings in Immersion by 16.2% in the 2nd quarter. Invesco Ltd. now owns 20,682 shares of the software maker’s stock worth $163,000 after purchasing an additional 2,886 shares in the last quarter. Finally, Jump Financial LLC increased its holdings in Immersion by 439.8% in the 2nd quarter. Jump Financial LLC now owns 126,637 shares of the software maker’s stock worth $998,000 after purchasing an additional 103,176 shares in the last quarter. Institutional investors 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.