B. Riley reissued their buy rating on shares of Digimarc Corporation (NASDAQ:DMRC) in a research note published on Tuesday morning. The firm currently has a $44.00 target price on the information technology services provider’s stock.
Other equities analysts have also issued research reports about the company. Cowen and Company restated a buy rating and issued a $50.00 target price on shares of Digimarc Corporation in a research note on Sunday, September 17th. Zacks Investment Research upgraded Digimarc Corporation from a sell rating to a hold rating in a research note on Monday, October 16th. Finally, BidaskClub lowered Digimarc Corporation from a hold rating to a sell rating in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Digimarc Corporation has a consensus rating of Hold and an average target price of $45.75.
Shares of Digimarc Corporation (NASDAQ:DMRC) traded up $0.35 during mid-day trading on Tuesday, reaching $36.70. The company had a trading volume of 24,664 shares, compared to its average volume of 70,930. Digimarc Corporation has a one year low of $24.20 and a one year high of $41.75.
Digimarc Corporation (NASDAQ:DMRC) last issued its earnings results on Thursday, October 26th. The information technology services provider reported ($0.39) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.69) by $0.30. The company had revenue of $8.68 million during the quarter, compared to analyst estimates of $5.72 million. Digimarc Corporation had a negative return on equity of 30.98% and a negative net margin of 90.69%. The firm’s quarterly revenue was up 55.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.55) EPS. analysts forecast that Digimarc Corporation will post -2.44 earnings per share for the current fiscal year.
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In other Digimarc Corporation news, EVP Joel Meyer sold 7,000 shares of Digimarc Corporation stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $35.03, for a total transaction of $245,210.00. Following the completion of the transaction, the executive vice president now owns 63,551 shares in the company, valued at approximately $2,226,191.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Bruce L. Davis sold 5,000 shares of Digimarc Corporation stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $35.30, for a total value of $176,500.00. Following the transaction, the chairman now owns 108,677 shares of the company’s stock, valued at approximately $3,836,298.10. The disclosure for this sale can be found here. Insiders have sold a total of 17,000 shares of company stock valued at $596,710 in the last quarter. Company 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 business. Marathon Capital Management raised its stake in shares of Digimarc Corporation by 0.5% during the 2nd quarter. Marathon Capital Management now owns 59,605 shares of the information technology services provider’s stock valued at $2,393,000 after buying an additional 275 shares during the last quarter. American International Group Inc. raised its stake in shares of Digimarc Corporation by 8.1% during the 1st quarter. American International Group Inc. now owns 5,198 shares of the information technology services provider’s stock valued at $140,000 after buying an additional 391 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Digimarc Corporation by 2.1% during the 1st quarter. Bank of America Corp DE now owns 20,857 shares of the information technology services provider’s stock valued at $563,000 after buying an additional 431 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Digimarc Corporation by 6.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,339 shares of the information technology services provider’s stock valued at $334,000 after buying an additional 540 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Digimarc Corporation by 7.9% during the 2nd quarter. Rhumbline Advisers now owns 11,265 shares of the information technology services provider’s stock valued at $452,000 after buying an additional 820 shares during the last quarter. Institutional investors and hedge funds own 51.28% of the company’s stock.
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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