Digimarc (DMRC) Upgraded by ValuEngine to “Hold”

Digimarc (NASDAQ:DMRC) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Tuesday.

A number of other equities analysts have also commented on the stock. BidaskClub lowered shares of Digimarc from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 31st. Zacks Investment Research upgraded shares of Digimarc from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. B. Riley reiterated a “buy” rating and set a $44.00 price objective on shares of Digimarc in a research note on Tuesday, November 14th. Finally, Cowen set a $50.00 price objective on shares of Digimarc and gave the company a “buy” rating in a research note on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $45.33.

Shares of Digimarc (NASDAQ DMRC) traded up $1.10 during trading hours on Tuesday, hitting $30.15. 81,200 shares of the stock were exchanged, compared to its average volume of 89,153. The stock has a market capitalization of $351.40, a price-to-earnings ratio of -13.40 and a beta of -1.35. Digimarc has a fifty-two week low of $24.20 and a fifty-two week high of $41.75.

In other news, CEO Bruce L. Davis sold 9,444 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $35.78, for a total transaction of $337,906.32. Following the transaction, the chief executive officer now directly owns 87,014 shares in the company, valued at $3,113,360.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bernard Whitney sold 5,000 shares of the stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $37.20, for a total transaction of $186,000.00. Following the transaction, the director now owns 33,630 shares in the company, valued at $1,251,036. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,444 shares of company stock worth $1,036,556. Insiders own 7.50% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its stake in shares of Digimarc by 6.9% during the second quarter. The Manufacturers Life Insurance Company now owns 8,339 shares of the information technology services provider’s stock valued at $334,000 after purchasing an additional 540 shares in the last quarter. Teachers Advisors LLC boosted its stake in Digimarc by 5.4% in the second quarter. Teachers Advisors LLC now owns 17,561 shares of the information technology services provider’s stock valued at $705,000 after acquiring an additional 893 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in Digimarc by 6.6% in the second quarter. TIAA CREF Investment Management LLC now owns 26,641 shares of the information technology services provider’s stock valued at $1,070,000 after acquiring an additional 1,659 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Digimarc by 4.3% in the third quarter. Janney Montgomery Scott LLC now owns 80,222 shares of the information technology services provider’s stock valued at $2,936,000 after acquiring an additional 3,289 shares in the last quarter. Finally, Alliancebernstein L.P. acquired a new stake in Digimarc in the second quarter valued at approximately $301,000. Hedge funds and other institutional investors own 57.31% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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