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.
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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