Digimarc (NASDAQ:DMRC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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 equities analysts have also issued research reports about the company. B. Riley reaffirmed a “buy” rating and set a $44.00 price target on shares of Digimarc in a research note on Tuesday, November 14th. Cowen set a $50.00 target price on Digimarc and gave the company a “buy” rating in a research note on Tuesday, October 24th. Finally, BidaskClub raised Digimarc from a “sell” rating to a “hold” rating in a research note on Thursday, December 21st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $45.33.
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 return on equity of 30.98% and a negative net margin of 90.69%. The business had revenue of $8.68 million for the quarter, compared to analyst estimates of $5.72 million. During the same quarter in the prior year, the firm posted ($0.55) earnings per share. The firm’s revenue for the quarter was up 55.6% compared to the same quarter last year. sell-side analysts expect that Digimarc will post -2.32 EPS for the current fiscal year.
In other Digimarc news, Director Bernard Whitney sold 5,000 shares of the stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $37.20, for a total value of $186,000.00. Following the transaction, the director now owns 33,630 shares of the company’s stock, valued at $1,251,036. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Bruce L. Davis sold 9,444 shares of the stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $35.78, for a total value of $337,906.32. Following the completion of the transaction, the chief executive officer now directly owns 87,014 shares in the company, valued at approximately $3,113,360.92. The disclosure for this sale can be found here. Insiders sold 41,444 shares of company stock worth $1,480,616 in the last three months. Insiders own 7.50% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Lagoda Investment Management L.P. lifted its stake in Digimarc by 3.1% in the third quarter. Lagoda Investment Management L.P. now owns 687,296 shares of the information technology services provider’s stock valued at $25,155,000 after buying an additional 20,750 shares during the period. Vanguard Group Inc. raised its position in shares of Digimarc by 2.6% during the second quarter. Vanguard Group Inc. now owns 444,335 shares of the information technology services provider’s stock worth $17,840,000 after purchasing an additional 11,296 shares during the period. Kimelman & Baird LLC raised its position in shares of Digimarc by 1.1% during the second quarter. Kimelman & Baird LLC now owns 291,958 shares of the information technology services provider’s stock worth $11,722,000 after purchasing an additional 3,180 shares during the period. Baillie Gifford & Co. raised its position in shares of Digimarc by 3.4% during the third quarter. Baillie Gifford & Co. now owns 261,462 shares of the information technology services provider’s stock worth $9,570,000 after purchasing an additional 8,564 shares during the period. Finally, State Street Corp raised its position in shares of Digimarc by 4.7% during the second quarter. State Street Corp now owns 167,370 shares of the information technology services provider’s stock worth $6,718,000 after purchasing an additional 7,581 shares during the period. 56.34% of the stock is currently owned by hedge funds and other institutional investors.
Digimarc 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.
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