Digimarc (NASDAQ:DMRC) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of Digimarc (NASDAQ:DMRC) from a sell rating to a hold rating in a research note issued to investors on Thursday, December 21st.

A number of other brokerages also recently weighed in on DMRC. Zacks Investment Research raised Digimarc from a sell rating to a hold rating in a research report on Monday, October 16th. B. Riley reissued a buy rating and set a $44.00 price target on shares of Digimarc in a research report on Tuesday, November 14th. Finally, Cowen set a $50.00 target price on Digimarc and gave the company a buy rating in a research report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $45.33.

Digimarc (NASDAQ:DMRC) traded up $0.15 during trading hours on Thursday, reaching $39.00. The company’s stock had a trading volume of 152,054 shares, compared to its average volume of 83,822. Digimarc has a 1 year low of $24.20 and a 1 year high of $41.75. The firm has a market capitalization of $454.55, a PE 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 (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.30. The business had revenue of $8.68 million for the quarter, compared to analyst estimates of $5.72 million. Digimarc had a negative return on equity of 30.98% and a negative net margin of 90.69%. Digimarc’s revenue was up 55.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.55) earnings per share. equities analysts predict that Digimarc will post -2.32 earnings per share for the current year.

In other news, CEO Bruce L. Davis sold 9,444 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $35.78, for a total value of $337,906.32. Following the completion of the transaction, the chief executive officer now directly owns 87,014 shares in the company, valued at approximately $3,113,360.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bernard Whitney sold 5,000 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $35.00, for a total value of $175,000.00. Following the transaction, the director now directly owns 33,630 shares of the company’s stock, valued at $1,177,050. The disclosure for this sale can be found here. Insiders have sold 41,444 shares of company stock worth $1,480,616 in the last three months. 7.50% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in DMRC. FMR LLC bought a new position in Digimarc during the 2nd quarter worth $6,413,000. Formula Growth Ltd. acquired a new stake in Digimarc during the 3rd quarter worth about $3,614,000. Baillie Gifford & Co. grew its holdings in Digimarc by 44.9% during the 2nd quarter. Baillie Gifford & Co. now owns 252,898 shares of the information technology services provider’s stock worth $10,154,000 after acquiring an additional 78,398 shares during the period. Lagoda Investment Management L.P. grew its holdings in 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 acquiring an additional 58,053 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Digimarc by 9.8% during the 1st quarter. Vanguard Group Inc. now owns 433,039 shares of the information technology services provider’s stock worth $11,692,000 after acquiring an additional 38,804 shares during the period. 56.30% of the stock is owned by institutional investors and hedge funds.

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About Digimarc

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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