Toro 18 Holdings Llc Sells 24,459 Shares of Immersion (NASDAQ:IMMR) Stock

Immersion Corporation (NASDAQ:IMMR) insider Toro 18 Holdings Llc sold 24,459 shares of Immersion stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $4.66, for a total value of $113,978.94. Following the completion of the transaction, the insider owned 1,207,373 shares of the company’s stock, valued at approximately $5,626,358.18. The trade was a 1.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Friday, September 11th, Toro 18 Holdings Llc sold 105,541 shares of Immersion stock. The stock was sold at an average price of $4.63, for a total value of $488,654.83.
• On Thursday, September 3rd, Toro 18 Holdings Llc sold 3,900 shares of Immersion stock. The stock was sold at an average price of $4.55, for a total value of $17,745.00.
• On Wednesday, September 2nd, Toro 18 Holdings Llc sold 42,019 shares of Immersion stock. The shares were sold at an average price of $4.61, for a total value of $193,707.59.
• 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 value of $40,089.00.
• 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 transaction 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 transaction of $1,044,000.00.

Immersion Trading Up 0.5%

IMMR opened at $7.40 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 stock has a market capitalization of $245.61 million, a PE ratio of 52.86 and a beta of 1.02. Immersion Corporation has a 1-year low of $5.25 and a 1-year high of $8.05. The firm has a 50-day moving average price of $7.28 and a two-hundred day moving average price of $6.61.

Immersion (NASDAQ:IMMR) last announced its 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. Immersion had a net margin of 0.26% and a return on equity of 0.80%. The company had revenue of $270.00 million during the quarter, compared to the consensus estimate of $230.00 million. As a group, equities analysts anticipate that Immersion Corporation will post 0.26 earnings per share for the current fiscal year.

Immersion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Monday, July 20th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 4.1%. The ex-dividend date was Monday, July 20th. Immersion’s payout ratio is 214.29%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wall Street Zen raised Immersion from a “sell” rating to a “hold” rating in a research note on Tuesday, July 28th. BWS Financial reiterated a “buy” rating and issued a $13.50 price target on shares of Immersion in a report on Tuesday, July 28th. Finally, Weiss Ratings lowered Immersion from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $13.50.

Hedge Funds Weigh In On Immersion

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Immersion during the 2nd quarter worth about $16,527,000. Bank of New York Mellon Corp acquired a new stake in shares of Immersion in the 2nd quarter valued at approximately $2,128,000. Millennium Management LLC raised its position in shares of Immersion by 121.5% in the 3rd quarter. Millennium Management LLC now owns 536,733 shares of the software maker’s stock valued at $3,940,000 after acquiring an additional 294,393 shares during the period. Kanen Wealth Management LLC boosted its stake in Immersion by 51.0% during the 1st quarter. Kanen Wealth Management LLC now owns 709,000 shares of the software maker’s stock worth $3,871,000 after acquiring an additional 239,318 shares during the last quarter. Finally, Numerai GP LLC boosted its stake in Immersion by 810.5% during the 3rd quarter. Numerai GP LLC now owns 189,059 shares of the software maker’s stock worth $1,388,000 after acquiring an additional 168,294 shares during the last quarter. 60.57% of the stock is owned by 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.