Insider Selling: Immersion (NASDAQ:IMMR) Major Shareholder Sells $74,250.00 in Stock

Immersion Corporation (NASDAQ:IMMR) major shareholder Toro 18 Holdings Llc sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $4.95, for a total transaction of $74,250.00. Following the completion of the sale, the insider directly owned 1,286,051 shares of the company’s stock, valued at $6,365,952.45. The trade was a 1.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases 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 stock was sold at an average price of $4.83, for a total value of $40,089.00.
• 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 Trading Up 0.8%

Shares of NASDAQ:IMMR traded up $0.06 during midday trading on Wednesday, reaching $7.59. The company had a trading volume of 408,348 shares, compared to its average volume of 708,495. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.19 and a current ratio of 2.30. Immersion Corporation has a 1-year low of $5.25 and a 1-year high of $8.05. The firm has a market cap of $251.91 million, a price-to-earnings ratio of 54.21 and a beta of 1.02. The company has a fifty day simple moving average of $6.97 and a two-hundred day simple moving average of $6.47.

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

Immersion Dividend Announcement

The company also recently declared 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 dividend yield of 4.0%. The ex-dividend date was Monday, July 20th. Immersion’s dividend payout ratio is 214.29%.

Institutional Investors Weigh In On Immersion

Several institutional investors have recently modified their holdings of the business. Strs Ohio acquired a new stake in Immersion during the 1st quarter worth $27,000. Caitlin John LLC acquired a new stake in shares of Immersion during the second quarter worth $27,000. Russell Investments Group Ltd. increased its holdings in 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 during the last quarter. Persistent Asset Partners Ltd acquired a new position in Immersion in the second quarter valued at about $41,000. Finally, Optiver Holding B.V. raised its position in shares of Immersion by 1,681.2% in the 1st quarter. Optiver Holding B.V. now owns 7,855 shares of the software maker’s stock valued at $43,000 after acquiring an additional 7,414 shares during the period. Institutional investors and hedge funds own 60.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. BWS Financial reissued a “buy” rating and set a $13.50 price objective on shares of Immersion in a research report on Tuesday, July 28th. Zacks Research raised 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 report on Tuesday, July 28th. Finally, Weiss Ratings lowered shares of Immersion from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.