Digimarc Corporation (NASDAQ:DMRC)‘s stock had its “buy” rating reaffirmed by equities research analysts at B. Riley in a research report issued on Tuesday. They presently have a $44.00 target price on the information technology services provider’s stock. B. Riley’s price target indicates a potential upside of 20.71% from the company’s previous close.
A number of other research analysts also recently weighed in on DMRC. Cowen and Company reiterated a “buy” rating and set a $50.00 price target on shares of Digimarc Corporation in a report on Sunday, September 17th. Zacks Investment Research upgraded Digimarc Corporation from a “sell” rating to a “hold” rating in a report on Monday, October 16th. Finally, BidaskClub downgraded Digimarc Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $45.75.
Shares of Digimarc Corporation (DMRC) traded up $0.95 during trading on Tuesday, hitting $36.45. The stock had a trading volume of 82,800 shares, compared to its average volume of 71,505. Digimarc Corporation has a 12 month low of $24.20 and a 12 month high of $41.75.
Digimarc Corporation (NASDAQ:DMRC) last announced its earnings results on Thursday, October 26th. The information technology services provider reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.30. The company had revenue of $8.68 million for the quarter, compared to analyst estimates of $5.72 million. Digimarc Corporation had a negative return on equity of 30.98% and a negative net margin of 90.69%. Digimarc Corporation’s revenue for the quarter was up 55.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.55) earnings per share. research analysts anticipate that Digimarc Corporation will post -2.44 EPS for the current fiscal year.
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In other Digimarc Corporation news, Director Bernard Whitney sold 5,000 shares of the business’s stock in a transaction dated 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 owns 33,630 shares in the company, valued at $1,177,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joel Meyer sold 7,000 shares of the business’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 completion of the transaction, the executive vice president now owns 63,551 shares in the company, valued at approximately $2,226,191.53. The disclosure for this sale can be found here. Insiders have sold 17,000 shares of company stock worth $596,710 in the last quarter. 7.50% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Marathon Capital Management grew its stake in Digimarc Corporation by 0.5% in the second quarter. Marathon Capital Management now owns 59,605 shares of the information technology services provider’s stock valued at $2,393,000 after purchasing an additional 275 shares in the last quarter. American International Group Inc. grew 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 purchasing an additional 391 shares in the last quarter. Bank of America Corp DE grew its stake in Digimarc Corporation by 2.1% in the first quarter. Bank of America Corp DE now owns 20,857 shares of the information technology services provider’s stock valued at $563,000 after purchasing an additional 431 shares in the last quarter. The Manufacturers Life Insurance Company grew 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 purchasing an additional 540 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Digimarc Corporation by 7.9% in the second quarter. Rhumbline Advisers now owns 11,265 shares of the information technology services provider’s stock valued at $452,000 after purchasing an additional 820 shares in the last quarter. Hedge funds and other institutional investors own 51.28% of the company’s stock.
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.
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