Immersion (NASDAQ:IMMR) Insider Sells $113,978.94 in Stock

Key Points

• Toro 18 Holdings sold 24,459 Immersion shares at an average price of $4.66, generating $113,978.94; the sale reduced its ownership by 1.99% to 1.21 million shares. The insider has made several additional sales recently.
• Immersion shares rose 0.5% to $7.40, with the stock trading between a 52-week low of $5.25 and high of $8.05. The company reported quarterly EPS of $0.12, ahead of the $0.05 consensus, and revenue of $270 million.
• Analysts maintain an average “Hold” rating with a $13.50 price target, while Immersion pays a $0.30 annualized dividend yielding about 4.1%. Institutional investors own approximately 60.6% of the company.

Immersion Corporation (NASDAQ:IMMR - Get Free Report) insider Toro 18 Holdings Llc sold 24,459 shares of the company's stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $4.66, for a total transaction of $113,978.94. Following the completion of the transaction, the insider owned 1,207,373 shares of the company's stock, valued at $5,626,358.18. This trade represents a 1.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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 transaction 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 transaction 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 stock was 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 stock was 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 Up 0.5%

NASDAQ IMMR traded up $0.04 during mid-day trading on Friday, reaching $7.40. 275,749 shares of the company's stock traded hands, compared to its average volume of 506,489. 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 1-year low of $5.25 and a 1-year high of $8.05. The company has a fifty day simple moving average of $7.27 and a 200-day simple moving average of $6.60. The company has a market cap of $245.61 million, a price-to-earnings ratio of 52.86 and a beta of 1.02.

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

Immersion Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on IMMR shares. Weiss Ratings downgraded shares of Immersion from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. BWS Financial reiterated a "buy" rating and issued a $13.50 price target on shares of Immersion in a research note on Tuesday, July 28th. Finally, Wall Street Zen raised Immersion from a "sell" rating to a "hold" rating in a report on Tuesday, July 28th. One research 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 currently has an average rating of "Hold" and an average target price of $13.50.

Institutional Trading of Immersion

Several institutional investors have recently added to or reduced their stakes in IMMR. Caitlin John LLC acquired a new position in shares of Immersion in the 2nd quarter valued at about $27,000. Strs Ohio acquired a new stake in Immersion during the first quarter worth about $27,000. Russell Investments Group Ltd. lifted 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 worth $33,000 after acquiring an additional 2,041 shares during the last quarter. Persistent Asset Partners Ltd bought a new position in Immersion in the second quarter worth about $41,000. Finally, Optiver Holding B.V. boosted its stake in 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 acquiring an additional 7,414 shares during the period. Institutional investors own 60.57% of the company's stock.

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.

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