Digimarc (DMRC) Downgraded by BidaskClub

Digimarc (NASDAQ:DMRC) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Thursday.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Digimarc from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Monday, August 6th. National Securities reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Digimarc in a research report on Monday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 price objective (down previously from $35.00) on shares of Digimarc in a research report on Friday, August 3rd. Finally, ValuEngine raised shares of Digimarc from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $38.25.

NASDAQ DMRC traded down $0.76 during trading on Thursday, reaching $21.22. 40,591 shares of the company’s stock traded hands, compared to its average volume of 60,061. The company has a market capitalization of $254.96 million, a price-to-earnings ratio of -8.70 and a beta of -0.76. Digimarc has a 12-month low of $19.70 and a 12-month high of $39.95.

Digimarc (NASDAQ:DMRC) last issued its quarterly earnings data on Wednesday, October 31st. The information technology services provider reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.02. Digimarc had a negative net margin of 157.82% and a negative return on equity of 45.20%. The firm had revenue of $4.91 million for the quarter, compared to the consensus estimate of $5.20 million. As a group, equities research analysts expect that Digimarc will post -2.93 earnings per share for the current year.

In other Digimarc news, CEO Bruce L. Davis sold 8,930 shares of the business’s 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 of the company’s stock, valued at approximately $1,843,049.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 7.50% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in DMRC. Janus Henderson Group PLC grew its position in Digimarc by 56.3% during the 2nd quarter. Janus Henderson Group PLC now owns 918,597 shares of the information technology services provider’s stock worth $24,618,000 after purchasing an additional 331,052 shares during the last quarter. BlackRock Inc. grew its position in Digimarc by 15.9% during the 2nd quarter. BlackRock Inc. now owns 715,481 shares of the information technology services provider’s stock worth $19,174,000 after purchasing an additional 98,190 shares during the last quarter. Jane Street Group LLC purchased a new stake in Digimarc during the 2nd quarter worth approximately $1,138,000. PEAK6 Investments L.P. purchased a new stake in Digimarc during the 2nd quarter worth approximately $1,097,000. Finally, Hood River Capital Management LLC grew its position in Digimarc by 3.9% during the 2nd quarter. Hood River Capital Management LLC now owns 589,869 shares of the information technology services provider’s stock worth $15,808,000 after purchasing an additional 22,143 shares during the last quarter. 55.57% of the stock is currently owned by institutional investors.

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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