BidaskClub upgraded shares of Digimarc (NASDAQ:DMRC) from a sell rating to a hold rating in a research note released on Wednesday, January 10th.
Several other equities analysts also recently weighed in on DMRC. Zacks Investment Research downgraded shares of Digimarc from a hold rating to a sell rating in a report on Tuesday, October 3rd. Cowen set a $50.00 price target on shares of Digimarc and gave the company a buy rating in a report on Tuesday, October 24th. Finally, B. Riley reissued a buy rating and issued a $44.00 target price on shares of Digimarc in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Digimarc presently has a consensus rating of Hold and a consensus price target of $45.33.
Shares of Digimarc (DMRC) traded up $0.45 during midday trading on Wednesday, reaching $37.00. 59,688 shares of the company were exchanged, compared to its average volume of 56,151. Digimarc has a one year low of $24.20 and a one year high of $41.75.
Digimarc (NASDAQ:DMRC) last released its quarterly earnings data on Thursday, October 26th. The information technology services provider reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.30. The business had revenue of $8.68 million during the quarter, compared to analyst estimates of $5.72 million. Digimarc had a negative net margin of 90.69% and a negative return on equity of 30.98%. Digimarc’s revenue was up 55.6% compared to the same quarter last year. During the same period last year, the business earned ($0.55) EPS. equities analysts anticipate that Digimarc will post -2.32 earnings per share for the current year.
In other news, EVP Joel Meyer sold 7,000 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $35.03, for a total value of $245,210.00. Following the transaction, the executive vice president now directly owns 63,551 shares in the company, valued at $2,226,191.53. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bernard Whitney sold 5,000 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $35.00, for a total transaction of $175,000.00. Following the completion of the transaction, the director now owns 33,630 shares in the company, 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 quarter. Company insiders own 7.50% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Wolverine Trading LLC purchased a new position in shares of Digimarc in the 2nd quarter valued at approximately $272,000. Alliancebernstein L.P. acquired a new position in Digimarc in the 2nd quarter worth approximately $301,000. The Manufacturers Life Insurance Company increased its holdings in Digimarc by 6.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,339 shares of the information technology services provider’s stock worth $334,000 after buying an additional 540 shares during the period. Rhumbline Advisers increased its holdings in Digimarc by 7.9% in the 2nd quarter. Rhumbline Advisers now owns 11,265 shares of the information technology services provider’s stock worth $452,000 after buying an additional 820 shares during the period. Finally, Teachers Advisors LLC increased its holdings in Digimarc by 5.4% in the 2nd quarter. Teachers Advisors LLC now owns 17,561 shares of the information technology services provider’s stock worth $705,000 after buying an additional 893 shares during the period. 56.30% of the stock is owned by institutional investors and hedge funds.
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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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