Bruce L. Davis Sells 9,444 Shares of Digimarc Corporation (DMRC) Stock

Digimarc Corporation (NASDAQ:DMRC) CEO Bruce L. Davis sold 9,444 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $35.78, for a total transaction of $337,906.32. Following the sale, the chief executive officer now owns 87,014 shares in the company, valued at $3,113,360.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Digimarc Corporation (NASDAQ DMRC) opened at $36.20 on Thursday. Digimarc Corporation has a 52 week low of $24.20 and a 52 week high of $41.75.

Digimarc (NASDAQ:DMRC) last issued 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 consensus estimate of ($0.69) by $0.30. Digimarc had a negative net margin of 90.69% and a negative return on equity of 30.98%. The firm had revenue of $8.68 million for the quarter, compared to analyst estimates of $5.72 million. During the same period in the previous year, the business earned ($0.55) EPS. The company’s revenue was up 55.6% compared to the same quarter last year. analysts expect that Digimarc Corporation will post -2.32 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Marathon Capital Management increased its stake in Digimarc by 0.5% in the 2nd quarter. Marathon Capital Management now owns 59,605 shares of the information technology services provider’s stock valued at $2,393,000 after buying an additional 275 shares during the last quarter. Bank of America Corp DE increased its stake in Digimarc by 2.1% in the 1st quarter. Bank of America Corp DE now owns 20,857 shares of the information technology services provider’s stock valued at $563,000 after buying an additional 431 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Digimarc 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 valued at $334,000 after buying an additional 540 shares during the last quarter. Rhumbline Advisers increased its stake in Digimarc by 7.9% in the 2nd quarter. Rhumbline Advisers now owns 11,265 shares of the information technology services provider’s stock valued at $452,000 after buying an additional 820 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake in Digimarc by 5.4% in the 2nd quarter. Teachers Advisors LLC now owns 17,561 shares of the information technology services provider’s stock valued at $705,000 after buying an additional 893 shares during the last quarter. Hedge funds and other institutional investors own 56.00% of the company’s stock.

DMRC has been the topic of a number of research analyst reports. Cowen restated a “buy” rating and set a $50.00 price objective on shares of Digimarc in a report on Sunday, September 17th. Zacks Investment Research lowered shares of Digimarc from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. B. Riley reiterated a “buy” rating and issued a $44.00 price target on shares of Digimarc in a research note on Friday, October 27th. Finally, BidaskClub lowered shares of Digimarc from a “hold” rating to a “sell” rating in a research note on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $45.33.

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About Digimarc

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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