Digimarc Corporation (NASDAQ:DMRC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “DIGIMARC CORPORATION based in Beaverton, Oregon, is a leading innovator and technology provider, enabling businesses and governments worldwide to enrich everyday living by giving persistent digital identities to all forms of media and objects. The company’s technology enables a wide range of solutions for enhancing traffic safety and national security, deterring fraud, counterfeiting and piracy, and enabling new digital media distribution and monetization models that provide consumers with more choice and access to content when, where and how they want it. Digimarc licenses its intellectual property to business partners across a range of industries, delivers solutions for protecting and managing digital images, and offers professional development services to bring strategic initiatives to market. “

Other analysts also recently issued research reports about the stock. B. Riley reiterated a “buy” rating and issued a $44.00 price objective on shares of Digimarc Corporation in a report on Sunday, April 30th. BidaskClub cut shares of Digimarc Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $42.00 price target on shares of Digimarc Corporation in a research note on Monday. Cowen and Company set a $50.00 price target on shares of Digimarc Corporation and gave the company a “buy” rating in a research note on Monday. Finally, Craig Hallum cut shares of Digimarc Corporation from a “buy” rating to a “hold” rating in a research note on Friday. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $45.75.

Digimarc Corporation (NASDAQ DMRC) traded down 1.29% on Tuesday, reaching $30.55. The company had a trading volume of 234,231 shares. Digimarc Corporation has a 1-year low of $24.20 and a 1-year high of $41.75. The firm’s market capitalization is $311.12 million. The company’s 50-day moving average price is $35.07 and its 200 day moving average price is $29.15.

Digimarc Corporation (NASDAQ:DMRC) last released its quarterly earnings data on Wednesday, April 26th. The information technology services provider reported ($0.61) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.66) by $0.05. The company had revenue of $6.10 million during the quarter, compared to the consensus estimate of $5.61 million. Digimarc Corporation had a negative net margin of 100.68% and a negative return on equity of 34.25%. Digimarc Corporation’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.64) EPS. On average, equities analysts forecast that Digimarc Corporation will post ($2.64) EPS for the current year.

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In other news, insider Tony Rodriguez sold 2,000 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $35.30, for a total value of $70,600.00. Following the completion of the sale, the insider now owns 31,887 shares of the company’s stock, valued at approximately $1,125,611.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Bruce L. Davis sold 700 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $38.17, for a total transaction of $26,719.00. Following the completion of the sale, the chief executive officer now directly owns 57,144 shares of the company’s stock, valued at approximately $2,181,186.48. The disclosure for this sale can be found here. In the last three months, insiders sold 17,000 shares of company stock valued at $601,820. Corporate insiders own 7.50% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. purchased a new stake in Digimarc Corporation during the fourth quarter valued at $422,000. State Street Corp boosted its stake in Digimarc Corporation by 10.7% in the fourth quarter. State Street Corp now owns 143,696 shares of the information technology services provider’s stock valued at $4,311,000 after buying an additional 13,930 shares during the period. RMB Capital Management LLC purchased a new stake in Digimarc Corporation during the fourth quarter valued at $309,000. Teachers Advisors LLC boosted its stake in Digimarc Corporation by 6.8% in the fourth quarter. Teachers Advisors LLC now owns 13,884 shares of the information technology services provider’s stock valued at $417,000 after buying an additional 881 shares during the period. Finally, WealthTrust Arizona LLC boosted 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 valued at $143,000 after buying an additional 200 shares during the period. 54.42% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Digimarc Corporation (NASDAQ:DMRC)

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