Digimarc (NASDAQ:DMRC) Lowered to Hold at ValuEngine

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ValuEngine cut shares of Digimarc (NASDAQ:DMRC) from a buy rating to a hold rating in a research report report published on Wednesday morning, ValuEngine reports.

Several other equities research analysts also recently issued reports on the stock. Needham & Company LLC downgraded shares of Digimarc from a buy rating to a hold rating in a research report on Thursday, May 30th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Digimarc from a hold rating to a sell rating in a research report on Wednesday, June 12th. BidaskClub downgraded shares of Digimarc from a sell rating to a strong sell rating in a research report on Friday, August 23rd. B. Riley downgraded shares of Digimarc from a buy rating to a neutral rating and increased their price objective for the stock from $44.00 to $57.50 in a research report on Thursday, May 30th. Finally, Craig Hallum increased their price objective on shares of Digimarc from $42.00 to $75.00 and gave the stock a buy rating in a research report on Friday, May 24th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Digimarc currently has an average rating of Hold and a consensus target price of $48.70.

NASDAQ:DMRC traded up $1.45 during trading hours on Wednesday, hitting $42.19. The stock had a trading volume of 1,428 shares, compared to its average volume of 95,456. Digimarc has a one year low of $14.03 and a one year high of $66.50. The company has a market cap of $506.40 million, a price-to-earnings ratio of -14.70 and a beta of 0.11. The business’s 50 day moving average is $42.86 and its 200-day moving average is $41.47.

Digimarc (NASDAQ:DMRC) last issued its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported ($0.68) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.75) by $0.07. Digimarc had a negative net margin of 149.00% and a negative return on equity of 56.59%. The company had revenue of $6.18 million during the quarter.

In other Digimarc news, Director Andrew Walter sold 2,000 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $51.24, for a total value of $102,480.00. Following the completion of the sale, the director now owns 12,110 shares in the company, valued at $620,516.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 6.38% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Digimarc by 4.7% during the 2nd quarter. BlackRock Inc. now owns 781,427 shares of the information technology services provider’s stock worth $34,687,000 after buying an additional 35,124 shares during the last quarter. Wasatch Advisors Inc. lifted its stake in shares of Digimarc by 49.9% during the 1st quarter. Wasatch Advisors Inc. now owns 140,094 shares of the information technology services provider’s stock worth $4,396,000 after buying an additional 46,632 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of Digimarc by 158.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 121,383 shares of the information technology services provider’s stock worth $5,388,000 after buying an additional 74,502 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Digimarc by 28.6% during the 2nd quarter. Handelsbanken Fonder AB now owns 90,000 shares of the information technology services provider’s stock worth $3,995,000 after buying an additional 20,000 shares during the last quarter. Finally, RMB Capital Management LLC lifted its stake in shares of Digimarc by 259.1% during the 2nd quarter. RMB Capital Management LLC now owns 83,274 shares of the information technology services provider’s stock worth $3,697,000 after buying an additional 60,086 shares during the last quarter. Institutional investors own 59.04% of the company’s stock.

Digimarc Company Profile

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