Digimarc Corporation (DMRC) Stock Rating Reaffirmed by B. Riley

Digimarc Corporation (NASDAQ:DMRC)‘s stock had its “buy” rating restated by equities researchers at B. Riley in a research note issued to investors on Tuesday. They presently have a $44.00 price objective on the information technology services provider’s stock. B. Riley’s price objective would indicate a potential upside of 21.05% from the stock’s current price.

DMRC has been the subject of a number of other reports. BidaskClub downgraded Digimarc Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research downgraded Digimarc Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Finally, Cowen and Company set a $50.00 price target on Digimarc Corporation and gave the company a “buy” rating in a research note on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Digimarc Corporation currently has a consensus rating of “Hold” and an average price target of $45.75.

Digimarc Corporation (DMRC) traded down $0.25 during trading on Tuesday, hitting $36.35. The company’s stock had a trading volume of 48,900 shares, compared to its average volume of 71,248. Digimarc Corporation has a 1-year low of $24.20 and a 1-year high of $41.75.

Digimarc Corporation (NASDAQ:DMRC) last released its quarterly earnings results on Thursday, October 26th. The information technology services provider reported ($0.39) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.69) by $0.30. The business had revenue of $8.68 million during the quarter, compared to the consensus estimate of $5.72 million. Digimarc Corporation had a negative return on equity of 30.98% and a negative net margin of 90.69%. The business’s quarterly revenue was up 55.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.55) EPS. equities research analysts anticipate that Digimarc Corporation will post -2.44 earnings per share for the current year.

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In other news, Chairman Bruce L. Davis sold 5,000 shares of Digimarc Corporation stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $35.30, for a total transaction of $176,500.00. Following the transaction, the chairman now directly owns 108,677 shares of the company’s stock, valued at approximately $3,836,298.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Joel Meyer sold 7,000 shares of Digimarc Corporation 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,000 shares of company stock worth $596,710. Insiders own 7.50% of the company’s stock.

Several hedge funds have recently bought and sold shares of DMRC. American International Group Inc. lifted its position in shares of Digimarc Corporation by 8.1% during the 1st quarter. American International Group Inc. now owns 5,198 shares of the information technology services provider’s stock valued at $140,000 after buying an additional 391 shares in the last quarter. Wolverine Trading LLC purchased a new position in Digimarc Corporation in the 2nd quarter worth approximately $272,000. Alliancebernstein L.P. purchased a new position in Digimarc Corporation in the 2nd quarter worth approximately $301,000. The Manufacturers Life Insurance Company lifted its holdings in Digimarc Corporation 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 purchasing an additional 540 shares in the last quarter. Finally, Cornerstone Financial Partners LLC purchased a new position in Digimarc Corporation in the 2nd quarter worth approximately $405,000. 51.28% of the stock is currently owned by hedge funds and other 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.

Analyst Recommendations for Digimarc Corporation (NASDAQ:DMRC)

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