Digimarc Corporation (DMRC) Rating Reiterated by Cowen and Company

Cowen and Company reissued their buy rating on shares of Digimarc Corporation (NASDAQ:DMRC) in a research note released on Sunday morning. Cowen and Company currently has a $50.00 price target on the information technology services provider’s stock.

A number of other equities research analysts also recently issued reports on the company. B. Riley reiterated a buy rating and issued a $44.00 price objective on shares of Digimarc Corporation in a research report on Saturday, July 29th. BidaskClub downgraded Digimarc Corporation from a hold rating to a sell rating in a research report on Tuesday, July 25th. Zacks Investment Research downgraded Digimarc Corporation from a hold rating to a sell rating in a research report on Tuesday, July 18th. Needham & Company LLC reiterated a buy rating and issued a $42.00 price objective on shares of Digimarc Corporation in a research report on Monday, July 10th. Finally, Craig Hallum downgraded Digimarc Corporation from a buy rating to a hold rating in a research report on Friday, July 7th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $45.75.

Digimarc Corporation (NASDAQ DMRC) opened at 32.75 on Friday. The stock has a 50 day moving average price of $30.13 and a 200 day moving average price of $30.79. The company’s market cap is $352.72 million. Digimarc Corporation has a 52 week low of $24.20 and a 52 week high of $41.75.

Digimarc Corporation (NASDAQ:DMRC) last issued its quarterly earnings data on Wednesday, July 26th. The information technology services provider reported ($0.68) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.68). Digimarc Corporation had a negative return on equity of 32.18% and a negative net margin of 107.49%. The company had revenue of $5.59 million for the quarter, compared to the consensus estimate of $5.69 million. During the same quarter last year, the business posted ($0.62) earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year. On average, equities analysts forecast that Digimarc Corporation will post ($2.68) earnings per share for the current year.

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In related news, CFO Charles Beck sold 1,000 shares of the stock in a transaction on Friday, June 30th. The stock was sold at an average price of $40.33, for a total value of $40,330.00. Following the transaction, the chief financial officer now owns 39,075 shares of the company’s stock, valued at $1,575,894.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Bruce L. Davis sold 4,300 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $38.67, for a total value of $166,281.00. Following the completion of the transaction, the chief executive officer now directly owns 57,144 shares in the company, valued at approximately $2,209,758.48. The disclosure for this sale can be found here. In the last three months, insiders sold 6,000 shares of company stock worth $233,330. 7.50% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American International Group Inc. increased its stake in Digimarc Corporation by 8.1% in the first quarter. American International Group Inc. now owns 5,198 shares of the information technology services provider’s stock valued at $140,000 after acquiring an additional 391 shares during the last quarter. Wolverine Trading LLC bought a new position in Digimarc Corporation in the second quarter valued at $272,000. Alliancebernstein L.P. bought a new position in Digimarc Corporation in the second quarter valued at $301,000. The Manufacturers Life Insurance Company increased its stake in Digimarc Corporation by 6.9% in the second quarter. The Manufacturers Life Insurance Company now owns 8,339 shares of the information technology services provider’s stock valued at $334,000 after acquiring an additional 540 shares during the last quarter. Finally, Berson & Corrado Investment Advisors LLC bought a new position in Digimarc Corporation in the second quarter valued at $385,000. 52.75% of the stock is currently owned by institutional investors and hedge funds.

About Digimarc Corporation

Digimarc Corporation (Digimarc) enables governments and enterprises to give digital identities to media and objects that computers can sense and recognize. The Company’s Digimarc Discover, Digimarc Barcode and Intuitive Computing Platform are designed to optimize the identification of consumer brand impressions, facilitating mobile-centric shopping.

Analyst Recommendations for Digimarc Corporation (NASDAQ:DMRC)

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