Digimarc (DMRC) Upgraded to “Hold” by BidaskClub

Digimarc (NASDAQ:DMRC) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

A number of other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Digimarc from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. B. Riley reissued a “buy” rating and issued a $44.00 target price on shares of Digimarc in a research note on Tuesday, November 14th. Finally, Cowen set a $50.00 target price on shares of Digimarc and gave the stock a “buy” rating in a research note on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $45.33.

Digimarc (NASDAQ:DMRC) traded up $0.15 on Wednesday, reaching $39.00. 151,854 shares of the company’s stock were exchanged, compared to its average volume of 49,876. Digimarc has a twelve month low of $24.20 and a twelve month high of $41.75. The stock has a market cap of $441.83, a price-to-earnings ratio of -17.33 and a beta of -1.19.

Digimarc (NASDAQ:DMRC) last released its earnings results on Thursday, October 26th. The information technology services provider reported ($0.39) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.69) by $0.30. Digimarc had a negative net margin of 90.69% and a negative return on equity of 30.98%. The business had revenue of $8.68 million for the quarter, compared to analyst estimates of $5.72 million. During the same period last year, the company posted ($0.55) EPS. The business’s revenue was up 55.6% on a year-over-year basis. equities research analysts expect that Digimarc will post -2.32 earnings per share for the current fiscal year.

In other news, EVP Joel Meyer sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $35.03, for a total transaction of $245,210.00. Following the completion of the sale, the executive vice president now owns 63,551 shares in the company, valued at approximately $2,226,191.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bernard Whitney sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $37.20, for a total transaction of $186,000.00. Following the sale, the director now owns 33,630 shares of the company’s stock, valued at approximately $1,251,036. The disclosure for this sale can be found here. Insiders sold a total of 41,444 shares of company stock worth $1,480,616 over the last three months. Corporate insiders own 7.50% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in DMRC. FMR LLC acquired a new stake in shares of Digimarc during the 2nd quarter worth approximately $6,413,000. Formula Growth Ltd. acquired a new stake in shares of Digimarc during the 3rd quarter worth approximately $3,614,000. Lagoda Investment Management L.P. increased its holdings in shares of Digimarc by 9.5% during the 2nd quarter. Lagoda Investment Management L.P. now owns 666,546 shares of the information technology services provider’s stock worth $26,762,000 after buying an additional 58,053 shares during the last quarter. Suffolk Capital Management LLC acquired a new stake in shares of Digimarc during the 3rd quarter worth approximately $1,336,000. Finally, Senvest Management LLC increased its holdings in shares of Digimarc by 1.5% during the 2nd quarter. Senvest Management LLC now owns 1,004,234 shares of the information technology services provider’s stock worth $40,320,000 after buying an additional 15,152 shares during the last quarter. Institutional investors and hedge funds own 56.30% of the company’s stock.

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Digimarc Company Profile

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.

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