Insider Selling: Immersion (NASDAQ:IMMR) Major Shareholder Sells $40,089.00 in Stock

Immersion Corporation (NASDAQ:IMMR) major shareholder Toro 18 Holdings Llc sold 8,300 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was 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 of the company’s stock, valued at approximately $6,171,537.33. This trade represents a 0.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large 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 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 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 value of $1,044,000.00.

Immersion Stock Performance

NASDAQ IMMR opened at $7.51 on Friday. The stock has a market cap of $249.27 million, a PE ratio of 53.64 and a beta of 1.02. 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 Corporation has a twelve month low of $5.25 and a twelve month high of $8.05. The stock has a fifty day simple moving average of $7.01 and a 200-day simple moving average of $6.48.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings data on Friday, July 24th. The software maker reported $0.12 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $270.00 million during the quarter, compared to the consensus estimate of $230.00 million. Equities analysts anticipate that Immersion Corporation will post 0.26 earnings per share for the current year.

Immersion Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IMMR. Weiss Ratings lowered shares of Immersion from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Zacks Research upgraded shares of Immersion to a “hold” rating in a report on Friday, May 8th. Wall Street Zen raised Immersion from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, BWS Financial restated a “buy” rating and set a $13.50 price target 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 given a Hold rating to the stock. According to data from MarketBeat, Immersion has an average rating of “Hold” and a consensus target price of $13.50.

Institutional Trading of Immersion

A number of institutional investors and hedge funds have recently bought and sold shares of IMMR. Caitlin John LLC acquired a new stake in shares of Immersion during the second quarter worth about $27,000. Russell Investments Group Ltd. grew its holdings in shares of Immersion by 85.5% in the third quarter. Russell Investments Group Ltd. now owns 4,429 shares of the software maker’s stock valued at $33,000 after purchasing an additional 2,041 shares in the last quarter. Strs Ohio acquired a new position in shares of Immersion in the first quarter valued at approximately $27,000. Persistent Asset Partners Ltd purchased a new stake in Immersion during the 2nd quarter worth approximately $41,000. Finally, Tower Research Capital LLC TRC increased its stake 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 buying an additional 6,743 shares during the period. 60.57% of the stock is currently owned by hedge funds and other institutional investors.

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.