ValuEngine lowered shares of Digimarc (NASDAQ:DMRC) from a buy rating to a hold rating in a research report report published on Thursday, September 13th.
Several other research analysts have also issued reports on the company. BidaskClub upgraded Digimarc from a hold rating to a buy rating in a report on Saturday, September 8th. Zacks Investment Research downgraded Digimarc from a buy rating to a hold rating in a research note on Wednesday, August 8th. National Securities reissued a buy rating and issued a $43.00 price objective on shares of Digimarc in a research note on Monday, August 6th. Finally, Needham & Company LLC reissued a buy rating and issued a $34.00 price objective (down from $35.00) on shares of Digimarc in a research note 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 stock. The company has a consensus rating of Buy and a consensus price target of $40.60.
Shares of Digimarc stock traded down $0.53 on Thursday, hitting $26.45. 35,100 shares of the company’s stock traded hands, compared to its average volume of 70,903. The firm has a market cap of $373.64 million, a price-to-earnings ratio of -10.81 and a beta of -1.22. Digimarc has a one year low of $22.85 and a one year high of $39.95.
Digimarc (NASDAQ:DMRC) last announced its quarterly earnings results on Wednesday, August 1st. The information technology services provider reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.10. The business had revenue of $5.44 million for the quarter, compared to analyst estimates of $5.28 million. Digimarc had a negative return on equity of 37.68% and a negative net margin of 116.98%. On average, analysts predict that Digimarc will post -2.92 earnings per share 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 stock was sold at an average price of $30.27, for a total value of $270,311.10. Following the completion of the sale, the chief executive officer now directly owns 60,887 shares of the company’s stock, valued at $1,843,049.49. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 6.10% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of DMRC. Janus Henderson Group PLC increased its position 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 acquiring an additional 331,052 shares during the last quarter. BlackRock Inc. increased its position 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 acquiring an additional 98,190 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of Digimarc by 28.6% during the first quarter. Baillie Gifford & Co. now owns 411,475 shares of the information technology services provider’s stock valued at $9,855,000 after acquiring an additional 91,602 shares during the last quarter. Senvest Management LLC increased its position 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 acquiring an additional 58,826 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Digimarc during the second quarter valued at approximately $1,138,000. 55.55% of the stock is owned by institutional investors.
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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