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.

Digimarc (NASDAQ:DMRC) last issued its quarterly earnings data on Wednesday, August 1st. The information technology services provider reported ($0.71) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.10. The company had revenue of $5.44 million during the quarter, compared to analysts’ expectations of $5.28 million. Digimarc had a negative net margin of 116.98% and a negative return on equity of 37.68%. research analysts expect that Digimarc will post -2.92 earnings per share for the current year.

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.

About Digimarc

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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