Insider Selling: Immersion (NASDAQ:IMMR) Insider Sells 42,019 Shares of Stock

Key Points

• Toro 18 Holdings LLC sold 42,019 Immersion shares at an average price of $4.61, generating $193,707.59 and reducing its ownership by 3.29% to 1.24 million shares. The insider has made several additional sales since August, including 200,000 shares on August 10.
• Immersion shares recently rose 2.0% to $7.71, near the upper end of their $5.25–$8.05 52-week range. The company reported quarterly EPS of $0.12 and revenue of $270 million, exceeding analyst expectations.
• Analysts maintain a consensus “Hold” rating, with one Buy and two Hold ratings and a $13.50 consensus price target. Immersion also pays a $0.075 quarterly dividend, equivalent to a 3.9% annualized yield.

Immersion Corporation (NASDAQ:IMMR - Get Free Report) insider Toro 18 Holdings Llc sold 42,019 shares of the business's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $4.61, for a total value of $193,707.59. Following the transaction, the insider directly owned 1,235,732 shares in the company, valued at $5,696,724.52. This trade represents a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

Immersion Stock Up 2.0%

IMMR traded up $0.15 during trading hours on Friday, reaching $7.71. 213,587 shares of the stock traded hands, compared to its average volume of 511,179. Immersion Corporation has a fifty-two week low of $5.25 and a fifty-two week high of $8.05. The company has a market cap of $255.89 million, a price-to-earnings ratio of 55.07 and a beta of 1.02. 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 firm's fifty day simple moving average is $7.20 and its two-hundred day simple moving average is $6.55.

Immersion (NASDAQ:IMMR - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $270.00 million for the quarter, compared to analyst estimates of $230.00 million. Immersion had a net margin of 0.26% and a return on equity of 0.80%. As a group, analysts forecast 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. Shareholders of record on Monday, July 20th were issued a dividend of $0.075 per share. The ex-dividend date was Monday, July 20th. This represents a $0.30 annualized dividend and a yield of 3.9%. Immersion's payout ratio is currently 214.29%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Weiss Ratings lowered shares of Immersion from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. Wall Street Zen raised shares of Immersion from a "sell" rating to a "hold" rating in a research report on Tuesday, July 28th. Zacks Research raised shares of Immersion to a "hold" rating in a research report on Friday, May 8th. Finally, BWS Financial restated a "buy" rating and set a $13.50 price objective on shares of Immersion in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $13.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Caitlin John LLC bought a new stake in shares of Immersion during the second quarter valued at approximately $27,000. Strs Ohio bought a new position in Immersion in the 1st quarter worth approximately $27,000. Russell Investments Group Ltd. grew 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 buying an additional 2,041 shares in the last quarter. Persistent Asset Partners Ltd acquired a new stake in Immersion in the 2nd quarter valued at approximately $41,000. Finally, Optiver Holding B.V. raised its stake in Immersion by 1,681.2% during 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 in the last quarter. Institutional investors own 60.57% of the company's stock.

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.

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