Digimarc Corp (NASDAQ:DMRC) has been given an average rating of “Hold” by the seven ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $66.25.
Several research firms have issued reports on DMRC. Zacks Investment Research downgraded Digimarc from a “hold” rating to a “sell” rating in a report on Monday, May 13th. BidaskClub downgraded Digimarc from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Needham & Company LLC downgraded Digimarc from a “buy” rating to a “hold” rating in a report on Thursday, May 30th. They noted that the move was a valuation call. B. Riley downgraded Digimarc from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $44.00 to $57.50 in a report on Thursday, May 30th. Finally, Craig Hallum boosted their price objective on Digimarc from $42.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, May 24th.
In other news, CEO Bruce L. Davis sold 15,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $47.90, for a total value of $718,500.00. Following the transaction, the chief executive officer now owns 41,799 shares in the company, valued at approximately $2,002,172.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James T. Richardson sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $32.00, for a total value of $160,000.00. Following the completion of the transaction, the director now owns 71,605 shares in the company, valued at approximately $2,291,360. The disclosure for this sale can be found here. Insiders sold a total of 49,113 shares of company stock worth $2,323,407 in the last quarter. 6.38% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of DMRC. MetLife Investment Advisors LLC acquired a new position in Digimarc during the first quarter worth $161,000. Metropolitan Life Insurance Co NY acquired a new position in Digimarc during the first quarter worth $116,000. HighTower Advisors LLC acquired a new position in Digimarc during the first quarter worth $203,000. SEI Investments Co raised its stake in Digimarc by 19.2% during the first quarter. SEI Investments Co now owns 29,955 shares of the information technology services provider’s stock worth $940,000 after acquiring an additional 4,821 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Digimarc by 12.2% during the first quarter. Geode Capital Management LLC now owns 141,165 shares of the information technology services provider’s stock worth $4,429,000 after acquiring an additional 15,329 shares in the last quarter. Institutional investors own 60.14% of the company’s stock.
NASDAQ DMRC opened at $51.72 on Thursday. The stock has a market cap of $618.29 million, a price-to-earnings ratio of -18.08 and a beta of 0.25. Digimarc has a 1 year low of $14.03 and a 1 year high of $66.50.
Digimarc (NASDAQ:DMRC) last posted its quarterly earnings data on Wednesday, May 1st. The information technology services provider reported ($0.74) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.72) by ($0.02). The company had revenue of $5.66 million for the quarter, compared to analyst estimates of $5.48 million. Digimarc had a negative return on equity of 55.04% and a negative net margin of 154.70%. Equities analysts expect that Digimarc will post -3.01 earnings per share for the current year.
Digimarc Corporation provides media identification and management solutions to government and commercial customers in the United States and internationally. It offers Digimarc Intuitive Computing Platform, a comprehensive set of technologies for identifying, discovering, and interacting with digitally-enhanced media, which includes Digimarc Barcode, a method for imperceptibly enhancing packaging, print, images, thermal labels, audio, and other objects with data that is detected by enabled devices, such as smart phones, computers, barcode scanners, and machine-vision equipment.
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