BidaskClub Downgrades Digimarc (DMRC) to Hold

Digimarc (NASDAQ:DMRC) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other equities research analysts have also issued reports on DMRC. National Securities set a $43.00 target price on shares of Digimarc and gave the stock a “buy” rating in a report on Thursday, November 1st. ValuEngine lowered shares of Digimarc from a “buy” rating to a “hold” rating in a report on Thursday, September 27th. Zacks Investment Research lowered shares of Digimarc from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $34.00 target price (down previously from $35.00) on shares of Digimarc in a report on Friday, August 3rd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $38.25.

DMRC stock traded down $0.76 during trading on Thursday, hitting $21.22. 40,591 shares of the company’s stock traded hands, compared to its average volume of 60,061. Digimarc has a 52 week low of $19.70 and a 52 week high of $39.95. The firm has a market capitalization of $254.96 million, a P/E ratio of -8.70 and a beta of -0.76.

Digimarc (NASDAQ:DMRC) last released its quarterly earnings data on Wednesday, October 31st. The information technology services provider reported ($0.73) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.75) by $0.02. Digimarc had a negative net margin of 157.82% and a negative return on equity of 45.20%. The business had revenue of $4.91 million during the quarter, compared to analyst estimates of $5.20 million. Research analysts anticipate that Digimarc will post -2.93 EPS for the current fiscal year.

In related news, CEO Bruce L. Davis sold 8,930 shares of Digimarc stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $30.27, for a total transaction of $270,311.10. Following the completion of the sale, the chief executive officer now owns 60,887 shares in the company, valued at approximately $1,843,049.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 7.50% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cutler Group LP lifted its holdings in Digimarc by 2,006.7% during the 3rd quarter. Cutler Group LP now owns 6,320 shares of the information technology services provider’s stock valued at $198,000 after buying an additional 6,020 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in Digimarc during the 2nd quarter valued at about $203,000. Handelsinvest Investeringsforvaltning bought a new stake in Digimarc during the 3rd quarter valued at about $315,000. Handelsbanken Fonder AB bought a new stake in Digimarc during the 3rd quarter valued at about $431,000. Finally, Schwab Charles Investment Management Inc. lifted 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 in the last quarter. Institutional investors own 55.57% 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.

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