Digimarc (DMRC) Upgraded at BidaskClub

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Digimarc (NASDAQ:DMRC) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Saturday.

Several other equities analysts have also recently issued reports on DMRC. ValuEngine raised Digimarc from a “sell” rating to a “hold” rating in a report on Tuesday, February 13th. Zacks Investment Research cut Digimarc from a “hold” rating to a “sell” rating in a report on Wednesday, February 21st. Needham & Company LLC reduced their price objective on Digimarc from $42.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Finally, National Securities set a $43.00 price objective on Digimarc and gave the stock a “buy” rating in a report on Thursday, February 22nd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Digimarc currently has an average rating of “Buy” and an average price target of $43.00.

Shares of Digimarc opened at $30.45 on Friday, MarketBeat.com reports. The firm has a market cap of $347.13 million, a P/E ratio of -12.48 and a beta of -1.01. Digimarc has a 1 year low of $22.85 and a 1 year high of $41.75.

Digimarc (NASDAQ:DMRC) last issued its quarterly earnings data on Wednesday, April 25th. The information technology services provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $1.53. The firm had revenue of $5.61 million during the quarter, compared to analysts’ expectations of $5.48 million. Digimarc had a negative return on equity of 35.03% and a negative net margin of 111.85%. analysts predict that Digimarc will post -3.13 EPS for the current year.

In other news, CEO Bruce L. Davis sold 14,500 shares of the business’s stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $27.95, for a total value of $405,275.00. Following the completion of the transaction, the chief executive officer now directly owns 99,096 shares of the company’s stock, valued at $2,769,733.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Robert Chamness sold 7,000 shares of the business’s stock in a transaction on Tuesday, May 29th. The stock was sold at an average price of $28.80, for a total value of $201,600.00. Following the completion of the transaction, the insider now directly owns 71,487 shares of the company’s stock, valued at $2,058,825.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,229 shares of company stock valued at $800,805. Insiders own 7.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hood River Capital Management LLC raised its holdings in shares of Digimarc by 23.3% in the fourth quarter. Hood River Capital Management LLC now owns 253,004 shares of the information technology services provider’s stock worth $9,146,000 after acquiring an additional 47,774 shares during the last quarter. Wolverine Trading LLC purchased a new stake in shares of Digimarc in the fourth quarter valued at $338,000. Baillie Gifford & Co. grew its position in shares of Digimarc by 28.6% in 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 purchasing an additional 91,602 shares during the period. Garelick Capital Partners LP grew its position in shares of Digimarc by 21.3% in the fourth quarter. Garelick Capital Partners LP now owns 332,863 shares of the information technology services provider’s stock valued at $12,033,000 after purchasing an additional 58,392 shares during the period. Finally, Deutsche Bank AG grew its position in shares of Digimarc by 89.4% in the fourth quarter. Deutsche Bank AG now owns 22,891 shares of the information technology services provider’s stock valued at $826,000 after purchasing an additional 10,803 shares during the period. 54.33% of the stock is owned by institutional investors.

Digimarc Company Profile

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.

Analyst Recommendations for Digimarc (NASDAQ:DMRC)

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