Digimarc (DMRC) Lowered to “Hold” at BidaskClub

BidaskClub lowered shares of Digimarc (NASDAQ:DMRC) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

Other equities analysts also recently issued research reports about the stock. National Securities reaffirmed a buy rating and set a $43.00 target price on shares of Digimarc in a research note on Monday, August 6th. ValuEngine downgraded shares of Digimarc from a buy rating to a hold rating in a research note on Thursday, September 13th. Zacks Investment Research downgraded shares of Digimarc from a buy rating to a hold rating in a research note on Monday, July 2nd. Finally, Needham & Company LLC reiterated a buy rating and set a $34.00 price target (down previously from $35.00) on shares of Digimarc in a report on Friday, August 3rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Digimarc presently has a consensus rating of Buy and a consensus target price of $40.60.

Shares of NASDAQ DMRC opened at $26.45 on Friday. Digimarc has a fifty-two week low of $22.85 and a fifty-two week high of $39.95. The company has a market cap of $373.64 million, a price-to-earnings ratio of -10.81 and a beta of -1.22.

Digimarc (NASDAQ:DMRC) last announced its earnings results on Wednesday, August 1st. The information technology services provider reported ($0.71) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.81) by $0.10. Digimarc had a negative net margin of 116.98% and a negative return on equity of 37.68%. The business had revenue of $5.44 million during the quarter, compared to the consensus estimate of $5.28 million. On average, equities research analysts expect that Digimarc will post -2.92 EPS for the current fiscal year.

In other news, CEO Bruce L. Davis sold 8,930 shares of the stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $30.27, for a total transaction of $270,311.10. Following the sale, the chief executive officer now owns 60,887 shares in the company, valued at $1,843,049.49. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 6.10% of the company’s stock.

Several large investors have recently bought and sold shares of DMRC. Janus Henderson Group PLC grew its holdings in shares of Digimarc by 56.3% during the second quarter. Janus Henderson Group PLC now owns 918,597 shares of the information technology services provider’s stock valued at $24,618,000 after buying an additional 331,052 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Digimarc by 15.9% during the second quarter. BlackRock Inc. now owns 715,481 shares of the information technology services provider’s stock valued at $19,174,000 after buying an additional 98,190 shares during the last quarter. Senvest Management LLC grew its holdings in shares of Digimarc by 7.1% during the first quarter. Senvest Management LLC now owns 892,156 shares of the information technology services provider’s stock valued at $21,367,000 after buying an additional 58,826 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Digimarc during the second quarter valued at approximately $1,138,000. Finally, PEAK6 Investments L.P. purchased a new stake in shares of Digimarc during the second quarter valued at approximately $1,097,000. Hedge funds and other institutional investors own 55.55% of the company’s stock.

About Digimarc

Digimarc Corporation provides media identification and management solutions to commercial entities and government customers in the United States and internationally. The company 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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