Immersion (NASDAQ:IMMR) Major Shareholder Toro 18 Holdings Llc Sells 200,000 Shares

Immersion Corporation (NASDAQ:IMMR) major shareholder Toro 18 Holdings Llc sold 200,000 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $5.22, for a total transaction of $1,044,000.00. Following the sale, the insider directly owned 1,344,647 shares of the company’s stock, valued at $7,019,057.34. The trade was a 12.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Immersion Trading Down 0.7%

Shares of IMMR stock opened at $7.43 on Thursday. Immersion Corporation has a 1 year low of $5.25 and a 1 year high of $8.05. The firm has a fifty day moving average price of $6.87 and a 200-day moving average price of $6.44. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.30 and a quick ratio of 1.19. The company has a market cap of $246.60 million, a price-to-earnings ratio of 53.07 and a beta of 1.02.

Immersion (NASDAQ:IMMR) last announced its earnings results on Friday, July 24th. The software maker reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. The company had revenue of $270.00 million for the quarter, compared to analysts’ expectations of $230.00 million. Immersion had a return on equity of 0.80% and a net margin of 0.26%. As a group, equities analysts predict that Immersion Corporation will post 0.26 earnings per share for the current year.

Immersion Announces Dividend

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

Institutional Investors Weigh In On Immersion

Institutional investors and hedge funds have recently bought and sold shares of the business. Strs Ohio purchased a new stake in shares of Immersion during the first quarter worth about $27,000. Russell Investments Group Ltd. lifted its holdings in Immersion by 85.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,429 shares of the software maker’s stock worth $33,000 after purchasing an additional 2,041 shares in the last quarter. Persistent Asset Partners Ltd purchased a new position in Immersion in the 2nd quarter worth approximately $41,000. Optiver Holding B.V. boosted its stake in Immersion by 1,681.2% in the 1st quarter. Optiver Holding B.V. now owns 7,855 shares of the software maker’s stock worth $43,000 after purchasing an additional 7,414 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in Immersion by 677.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,738 shares of the software maker’s stock worth $61,000 after purchasing an additional 6,743 shares during the period. 60.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. BWS Financial reiterated a “buy” rating and set a $13.50 price objective on shares of Immersion in a research note on Tuesday, July 28th. Zacks Research upgraded shares of Immersion to a “hold” rating in a research note on Friday, May 8th. Weiss Ratings downgraded shares of Immersion from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday. 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 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.com, the stock currently has a consensus rating of “Hold” and an average price target 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.