Toro 18 Holdings Llc Sells 3,900 Shares of Immersion (NASDAQ:IMMR) Stock

Key Points

• Toro 18 Holdings sold 3,900 Immersion shares at an average price of $4.55, receiving $17,745 and reducing its position by 0.32% to 1,231,832 shares. The sale follows several larger disposals in August and September.
• Immersion shares rose $0.15 to $7.71, near their one-year high of $8.05. The company recently reported quarterly EPS of $0.12, beating estimates of $0.05, and revenue of $270 million versus expectations of $230 million.
• Analysts have a consensus “Hold” rating and a $13.50 price target, while the company pays a quarterly dividend of $0.075 per share, equivalent to a 3.9% annualized yield.

Immersion Corporation (NASDAQ:IMMR - Get Free Report) insider Toro 18 Holdings Llc sold 3,900 shares of the business's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $4.55, for a total value of $17,745.00. Following the completion of the transaction, the insider directly owned 1,231,832 shares of the company's stock, valued at approximately $5,604,835.60. This trade represents a 0.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, September 2nd, Toro 18 Holdings Llc sold 42,019 shares of Immersion stock. The stock was sold at an average price of $4.61, for a total transaction 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 transaction of $40,089.00.
• On Tuesday, August 18th, Toro 18 Holdings Llc sold 15,000 shares of Immersion stock. The shares were 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 stock was sold at an average price of $5.22, for a total transaction of $1,044,000.00.

Immersion Price Performance

Shares of Immersion stock traded up $0.15 on Friday, reaching $7.71. 213,587 shares of the stock were exchanged, compared to its average volume of 511,179. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.19 and a current ratio of 2.30. The firm has a market cap of $255.89 million, a PE ratio of 55.07 and a beta of 1.02. The firm's 50 day moving average is $7.20 and its 200-day moving average is $6.55. Immersion Corporation has a one year low of $5.25 and a one year high of $8.05.

Immersion (NASDAQ:IMMR - Get Free Report) last announced its quarterly earnings data 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. Immersion had a net margin of 0.26% and a return on equity of 0.80%. The business had revenue of $270.00 million for the quarter, compared to analysts' expectations of $230.00 million. As a group, analysts anticipate that Immersion Corporation will post 0.26 EPS for the current fiscal year.

Immersion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 20th were issued a dividend of $0.075 per share. 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 3.9%. Immersion's payout ratio is 214.29%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Caitlin John LLC acquired a new stake in shares of Immersion during the 2nd quarter valued at $27,000. Strs Ohio acquired a new position in Immersion in the 1st quarter worth about $27,000. Russell Investments Group Ltd. increased 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 bought a new position in Immersion in the second quarter valued at about $41,000. Finally, Optiver Holding B.V. raised its position 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 purchasing an additional 7,414 shares during the last quarter. 60.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IMMR. Wall Street Zen raised Immersion from a "sell" rating to a "hold" rating in a research note on Tuesday, July 28th. Weiss Ratings downgraded Immersion from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. Zacks Research raised shares of Immersion to a "hold" rating in a report on Friday, May 8th. Finally, BWS Financial restated a "buy" rating and issued a $13.50 price target 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 issued a Hold rating to the stock. According to data from MarketBeat.com, Immersion presently has an average rating of "Hold" and a consensus price target of $13.50.

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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