BidaskClub downgraded shares of Digimarc Corporation (NASDAQ:DMRC) from a hold rating to a sell rating in a research report sent to investors on Tuesday, July 25th.
Several other research firms have also recently weighed in on DMRC. Cowen and Company boosted their price objective on Digimarc Corporation from $45.00 to $50.00 and gave the stock an outperform rating in a research report on Tuesday, June 27th. Craig Hallum cut Digimarc Corporation from a buy rating to a hold rating in a research report on Friday, July 7th. Needham & Company LLC boosted their price objective on Digimarc Corporation from $33.00 to $42.00 and gave the stock a buy rating in a research report on Monday, June 19th. ValuEngine raised Digimarc Corporation from a sell rating to a hold rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research raised Digimarc Corporation from a sell rating to a hold rating in a report on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $45.75.
Digimarc Corporation (NASDAQ:DMRC) traded up 0.70% during midday trading on Tuesday, reaching $28.65. The company’s stock had a trading volume of 76,399 shares. The firm’s market capitalization is $308.56 million. The stock has a 50 day moving average of $33.13 and a 200 day moving average of $29.88. Digimarc Corporation has a 52 week low of $24.20 and a 52 week high of $41.75.
Digimarc Corporation (NASDAQ:DMRC) last released its quarterly earnings results on Wednesday, July 26th. The information technology services provider reported ($0.68) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.68). The company had revenue of $5.59 million during the quarter, compared to the consensus estimate of $5.69 million. Digimarc Corporation had a negative return on equity of 32.18% and a negative net margin of 107.49%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.62) EPS. On average, equities research analysts predict that Digimarc Corporation will post ($2.69) earnings per share for the current fiscal year.
In related news, insider Tony Rodriguez sold 2,000 shares of the stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $37.75, for a total transaction of $75,500.00. Following the sale, the insider now directly owns 29,887 shares in the company, valued at approximately $1,128,234.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Joel Meyer sold 7,000 shares of the stock in a transaction that occurred on 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 owns 70,121 shares in the company, 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. 7.50% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the company. American International Group Inc. raised 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 worth $140,000 after buying an additional 391 shares during the period. WealthTrust Arizona LLC raised its stake in Digimarc Corporation by 3.9% in the first quarter. WealthTrust Arizona LLC now owns 5,285 shares of the information technology services provider’s stock worth $143,000 after buying an additional 200 shares during the period. Alliancebernstein L.P. purchased a new position in shares of Digimarc Corporation during the second quarter worth approximately $301,000. Berson & Corrado Investment Advisors LLC purchased a new position in shares of Digimarc Corporation during the second quarter worth approximately $385,000. Finally, Cornerstone Financial Partners LLC purchased a new position in shares of Digimarc Corporation during the second quarter worth approximately $405,000. Institutional investors and hedge funds own 54.94% 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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