Insider Selling: Immersion (NASDAQ:IMMR) Insider Sells $193,707.59 in Stock

Immersion Corporation (NASDAQ:IMMR) insider Toro 18 Holdings Llc sold 42,019 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $4.61, for a total transaction of $193,707.59. Following the completion of the sale, the insider owned 1,235,732 shares of the company’s stock, valued at approximately $5,696,724.52. The trade was a 3.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 transaction of $17,745.00.
• 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 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 shares were sold at an average price of $5.22, for a total value of $1,044,000.00.

Immersion Stock Performance

Shares of NASDAQ IMMR opened at $7.71 on Monday. 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 one year low of $5.25 and a one year high of $8.05. The business’s 50-day moving average price is $7.21 and its two-hundred day moving average price is $6.56. The company has a market capitalization of $255.89 million, a P/E ratio of 55.07 and a beta of 1.02.

Immersion (NASDAQ:IMMR) last posted its quarterly earnings results on Friday, July 24th. The software maker reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. The company had revenue of $270.00 million during 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%. Analysts anticipate that Immersion Corporation will post 0.26 earnings per share for the current fiscal year.

Immersion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Monday, July 20th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Monday, July 20th. Immersion’s dividend payout ratio (DPR) is presently 214.29%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. 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. Weiss Ratings cut shares of Immersion from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen raised shares of Immersion from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Immersion currently has a consensus rating of “Hold” and an average target price of $13.50.

Institutional Trading of Immersion

A number of institutional investors and hedge funds have recently modified their holdings of IMMR. Caitlin John LLC bought a new stake in shares of Immersion during the 2nd quarter worth $27,000. Strs Ohio acquired a new position in Immersion during the 1st quarter worth $27,000. Russell Investments Group Ltd. boosted its holdings in Immersion by 85.5% during the third quarter. Russell Investments Group Ltd. now owns 4,429 shares of the software maker’s stock valued at $33,000 after acquiring an additional 2,041 shares during the period. Persistent Asset Partners Ltd bought a new stake in Immersion during the second quarter valued at about $41,000. Finally, Optiver Holding B.V. grew its position in shares of Immersion by 1,681.2% in the first 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. 60.57% of the stock is currently owned by institutional investors and hedge funds.

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.