Digimarc (NASDAQ:DMRC) Rating Lowered to Buy at BidaskClub

Digimarc (NASDAQ:DMRC) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, BidAskClub reports.

A number of other brokerages also recently weighed in on DMRC. B. Riley downgraded Digimarc from a “buy” rating to a “neutral” rating and boosted their price target for the company from $44.00 to $57.50 in a report on Thursday, May 30th. Zacks Investment Research downgraded Digimarc from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. Craig Hallum boosted their price target on Digimarc from $42.00 to $75.00 and gave the company a “buy” rating in a report on Friday, May 24th. National Securities downgraded Digimarc from a “buy” rating to a “neutral” rating in a report on Monday, May 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price target (up from $32.00) on shares of Digimarc in a report on Tuesday, March 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $48.70.

Shares of NASDAQ DMRC opened at $51.72 on Tuesday. Digimarc has a twelve month low of $14.03 and a twelve month high of $66.50. The company has a market capitalization of $618.28 million, a PE ratio of -18.08 and a beta of 0.27.

Digimarc (NASDAQ:DMRC) last issued its quarterly earnings results on Wednesday, May 1st. The information technology services provider reported ($0.74) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.72) by ($0.02). Digimarc had a negative net margin of 154.70% and a negative return on equity of 55.04%. The firm had revenue of $5.66 million during the quarter, compared to the consensus estimate of $5.48 million. On average, sell-side analysts predict that Digimarc will post -3.01 earnings per share for the current fiscal year.

In related news, Director Andrew Walter sold 2,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $50.26, for a total transaction of $100,520.00. Following the completion of the transaction, the director now directly owns 14,110 shares in the company, valued at approximately $709,168.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Bruce L. Davis sold 15,000 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $47.90, for a total value of $718,500.00. Following the transaction, the chief executive officer now owns 41,799 shares of the company’s stock, valued at $2,002,172.10. The disclosure for this sale can be found here. Insiders sold a total of 49,113 shares of company stock valued at $2,323,407 over the last quarter. Company insiders own 6.38% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. MetLife Investment Advisors LLC bought a new position in Digimarc during the 1st quarter worth $161,000. Metropolitan Life Insurance Co NY bought a new position in Digimarc during the 1st quarter worth $116,000. HighTower Advisors LLC bought a new position in Digimarc during the 1st quarter worth $203,000. SEI Investments Co grew its stake in Digimarc by 19.2% during the 1st quarter. SEI Investments Co now owns 29,955 shares of the information technology services provider’s stock worth $940,000 after buying an additional 4,821 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Digimarc by 12.2% during the 1st quarter. Geode Capital Management LLC now owns 141,165 shares of the information technology services provider’s stock worth $4,429,000 after buying an additional 15,329 shares during the last quarter. Hedge funds and other institutional investors own 60.14% of the company’s stock.

About Digimarc

Digimarc Corporation provides media identification and management solutions to government and commercial customers in the United States and internationally. It offers Digimarc Intuitive Computing Platform, a comprehensive set of technologies for identifying, discovering, and interacting with digitally-enhanced media, which includes Digimarc Barcode, a method for imperceptibly enhancing packaging, print, images, thermal labels, audio, and other objects with data that is detected by enabled devices, such as smart phones, computers, barcode scanners, and machine-vision equipment.

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