Digimarc (DMRC) Downgraded by BidaskClub to “Hold”
BidaskClub downgraded shares of Digimarc (NASDAQ:DMRC) from a buy rating to a hold rating in a research note issued to investors on Thursday, August 23rd.
Several other equities analysts have also recently commented on DMRC. Needham & Company LLC reduced their price objective on shares of Digimarc from $38.00 to $35.00 and set a buy rating for the company in a research note on Thursday, April 26th. Zacks Investment Research upgraded shares of Digimarc from a sell rating to a hold rating in a research report on Friday, April 27th. Finally, ValuEngine upgraded shares of Digimarc from a sell rating to a hold rating in a research report on Tuesday, May 8th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $40.60.
Shares of DMRC traded up $0.10 during trading hours on Thursday, hitting $29.20. The company’s stock had a trading volume of 21,621 shares, compared to its average volume of 49,515. The company has a market capitalization of $345.72 million, a price-to-earnings ratio of -11.97 and a beta of -1.18. Digimarc has a 52-week low of $22.85 and a 52-week high of $39.95.
In other news, CEO Bruce L. Davis sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $27.00, for a total value of $135,000.00. Following the completion of the sale, the chief executive officer now directly owns 77,240 shares in the company, valued at approximately $2,085,480. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 7.50% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. MetLife Investment Advisors LLC bought a new stake in Digimarc during the 4th quarter valued at $143,000. State Board of Administration of Florida Retirement System bought a new stake in Digimarc during the 2nd quarter valued at $203,000. Berson & Corrado Investment Advisors LLC raised its holdings in Digimarc by 22.6% during the 2nd quarter. Berson & Corrado Investment Advisors LLC now owns 12,375 shares of the information technology services provider’s stock valued at $331,000 after buying an additional 2,279 shares during the last quarter. Citadel Advisors LLC raised its holdings in Digimarc by 518.3% during the 1st quarter. Citadel Advisors LLC now owns 14,506 shares of the information technology services provider’s stock valued at $347,000 after buying an additional 12,160 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in Digimarc by 13.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 23,442 shares of the information technology services provider’s stock valued at $629,000 after buying an additional 2,700 shares during the last quarter. Hedge funds and other institutional investors own 55.56% of the company’s stock.
Digimarc Corporation provides media identification and management solutions to commercial entities and government customers in the United States and internationally. The company offers Digimarc Intuitive Computing Platform, a comprehensive set of technologies for identifying, discovering, and interacting with digitally-enhanced media, which includes Digimarc Barcode, a method for imperceptibly enhancing packaging, print, images, thermal labels, audio, and other objects with data that is detected by enabled devices, such as smart phones, computers, barcode scanners, and machine-vision equipment.
See Also: Price to Earnings Ratio (PE)
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