Toro 18 Holdings Llc Sells 105,541 Shares of Immersion (NASDAQ:IMMR) Stock

Key Points

• Toro 18 Holdings sold 105,541 Immersion shares at an average price of $4.63, generating approximately $488,655. Following the transaction, its ownership declined 8.74% to 1.10 million shares; the investor has also made several other sales in recent weeks.
• Immersion shares traded at $7.40, near the middle of their $5.25–$8.05 52-week range, with a market capitalization of about $245.6 million. The company recently reported quarterly EPS of $0.12 versus the $0.05 estimate and revenue of $270 million, above expectations.
• The company pays a quarterly dividend of $0.075, equivalent to a 4.1% annualized yield, while analysts maintain a consensus “Hold” rating and a $13.50 average price target.

Immersion Corporation (NASDAQ:IMMR - Get Free Report) insider Toro 18 Holdings Llc sold 105,541 shares of Immersion stock in a transaction on Friday, September 11th. The stock was sold at an average price of $4.63, for a total transaction of $488,654.83. Following the sale, the insider directly owned 1,101,832 shares of the company's stock, valued at $5,101,482.16. This represents a 8.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, September 10th, Toro 18 Holdings Llc sold 24,459 shares of Immersion stock. The stock was sold at an average price of $4.66, for a total transaction of $113,978.94.
• 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 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 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 Price Performance

Shares of NASDAQ IMMR traded up $0.04 during trading hours on Friday, reaching $7.40. 275,749 shares of the stock traded hands, compared to its average volume of 506,489. The company's 50-day simple moving average is $7.27 and its two-hundred day simple moving average is $6.60. The company has a market capitalization of $245.61 million, a P/E ratio of 52.86 and a beta of 1.02. Immersion Corporation has a 52-week low of $5.25 and a 52-week high of $8.05. The company has a quick ratio of 1.19, a current ratio of 2.30 and a debt-to-equity ratio of 0.13.

Immersion (NASDAQ:IMMR - Get Free Report) last issued its earnings results 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 business had revenue of $270.00 million during the quarter, compared to analyst estimates of $230.00 million. Equities research analysts forecast that Immersion Corporation will post 0.26 EPS for the current year.

Immersion Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 4.1%. Immersion's dividend payout ratio is 214.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on IMMR shares. Wall Street Zen upgraded shares of Immersion from a "sell" rating to a "hold" rating in a research report on Tuesday, July 28th. BWS Financial reaffirmed a "buy" rating and set a $13.50 price objective on shares of Immersion in a research note on Tuesday, July 28th. Finally, Weiss Ratings downgraded Immersion from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Immersion currently has a consensus rating of "Hold" and an average price target of $13.50.

Institutional Investors Weigh In On Immersion

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMMR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Immersion by 253.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,485 shares of the software maker's stock valued at $466,000 after buying an additional 44,112 shares during the period. XTX Topco Ltd purchased a new position in shares of Immersion in the second quarter valued at about $80,000. Quantbot Technologies LP raised its stake in shares of Immersion by 212.3% during the second quarter. Quantbot Technologies LP now owns 45,162 shares of the software maker's stock valued at $356,000 after acquiring an additional 30,703 shares during the last quarter. Invesco Ltd. raised its stake in shares of Immersion by 16.2% during the second quarter. Invesco Ltd. now owns 20,682 shares of the software maker's stock valued at $163,000 after acquiring an additional 2,886 shares during the last quarter. Finally, Jump Financial LLC boosted its holdings in shares of Immersion by 439.8% during the second quarter. Jump Financial LLC now owns 126,637 shares of the software maker's stock worth $998,000 after purchasing an additional 103,176 shares during the period. 60.57% of the stock is currently 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.

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