Zacks Investment Research Downgrades Digimarc Corporation (NASDAQ:DMRC) to Sell

Digimarc Corporation (NASDAQ:DMRC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “DIGIMARC CORPORATION based in Beaverton, Oregon, is a leading innovator and technology provider, enabling businesses and governments worldwide to enrich everyday living by giving persistent digital identities to all forms of media and objects. The company’s technology enables a wide range of solutions for enhancing traffic safety and national security, deterring fraud, counterfeiting and piracy, and enabling new digital media distribution and monetization models that provide consumers with more choice and access to content when, where and how they want it. Digimarc licenses its intellectual property to business partners across a range of industries, delivers solutions for protecting and managing digital images, and offers professional development services to bring strategic initiatives to market. “

Several other equities research analysts also recently commented on the company. Cowen and Company set a $50.00 target price on Digimarc Corporation and gave the company a “buy” rating in a report on Monday, July 10th. BidaskClub downgraded Digimarc Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $42.00 target price on shares of Digimarc Corporation in a report on Monday, July 10th. Craig Hallum downgraded Digimarc Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Finally, ValuEngine raised Digimarc Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $45.75.

Digimarc Corporation (NASDAQ:DMRC) opened at 31.05 on Tuesday. Digimarc Corporation has a 52 week low of $24.20 and a 52 week high of $41.75. The firm’s market cap is $316.21 million. The company has a 50-day moving average of $35.67 and a 200 day moving average of $29.62.

Digimarc Corporation (NASDAQ:DMRC) last announced its earnings results on Wednesday, April 26th. The information technology services provider reported ($0.61) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.05. Digimarc Corporation had a negative return on equity of 34.25% and a negative net margin of 100.68%. The business had revenue of $6.10 million during the quarter, compared to the consensus estimate of $5.61 million. During the same period in the prior year, the business posted ($0.64) earnings per share. Digimarc Corporation’s revenue was up 9.3% compared to the same quarter last year. On average, equities analysts predict that Digimarc Corporation will post ($2.64) earnings per share for the current year.

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In other news, CEO Bruce L. Davis sold 700 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $38.17, for a total transaction of $26,719.00. Following the completion of the sale, the chief executive officer now directly owns 57,144 shares of the company’s stock, valued at approximately $2,181,186.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joel Meyer sold 7,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $31.77, for a total value of $222,390.00. Following the sale, the executive vice president now directly owns 70,121 shares of the company’s stock, valued at $2,227,744.17. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,000 shares of company stock valued at $601,820. Company insiders own 7.50% of the company’s stock.

Several large investors have recently bought and sold shares of the company. State Street Corp increased its stake in Digimarc Corporation by 10.7% in the fourth quarter. State Street Corp now owns 143,696 shares of the information technology services provider’s stock worth $4,311,000 after buying an additional 13,930 shares during the period. Formula Growth Ltd. increased its stake in Digimarc Corporation by 70.0% in the first quarter. Formula Growth Ltd. now owns 210,417 shares of the information technology services provider’s stock worth $5,681,000 after buying an additional 86,607 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Digimarc Corporation during the fourth quarter worth approximately $422,000. Blair William & Co. IL bought a new position in shares of Digimarc Corporation during the first quarter worth approximately $1,926,000. Finally, Primecap Management Co. CA raised its position in shares of Digimarc Corporation by 30.3% in the first quarter. Primecap Management Co. CA now owns 460,000 shares of the information technology services provider’s stock worth $12,420,000 after buying an additional 107,000 shares in the last quarter. 54.53% of the stock is owned by institutional investors.

Digimarc Corporation 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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