Digimarc (NASDAQ:DMRC) Downgraded by BidaskClub

Digimarc (NASDAQ:DMRC) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, January 4th.

DMRC has been the topic of several other reports. B. Riley reiterated a “buy” rating and issued a $44.00 price target on shares of Digimarc in a research report on Tuesday, November 14th. Zacks Investment Research downgraded shares of Digimarc from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Finally, Cowen reissued a “buy” rating and issued a $50.00 price objective on shares of Digimarc in a research note on Sunday, September 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $45.33.

Shares of Digimarc (NASDAQ DMRC) traded down $1.00 during trading on Thursday, reaching $32.85. 72,528 shares of the company were exchanged, compared to its average volume of 69,088. Digimarc has a 12 month low of $24.20 and a 12 month high of $41.75. The company has a market capitalization of $383.49, a P/E ratio of -14.60 and a beta of -1.19.

Digimarc (NASDAQ:DMRC) last released its quarterly earnings results on Thursday, October 26th. The information technology services provider reported ($0.39) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.69) by $0.30. Digimarc had a negative net margin of 90.69% and a negative return on equity of 30.98%. The business had revenue of $8.68 million for the quarter, compared to the consensus estimate of $5.72 million. During the same period last year, the firm earned ($0.55) earnings per share. The company’s quarterly revenue was up 55.6% on a year-over-year basis. analysts predict that Digimarc will post -2.32 EPS for the current year.

In related news, EVP Joel Meyer sold 7,000 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were 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 directly owns 63,551 shares of the company’s stock, valued at $2,226,191.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bernard Whitney sold 5,000 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $35.00, for a total transaction of $175,000.00. Following the transaction, the director now directly owns 33,630 shares of the company’s stock, valued at $1,177,050. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,444 shares of company stock valued at $1,480,616. Corporate insiders own 7.50% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of DMRC. Wolverine Trading LLC purchased a new position in Digimarc during the second quarter valued at $272,000. Alliancebernstein L.P. purchased a new position in shares of Digimarc in the 2nd quarter worth $301,000. The Manufacturers Life Insurance Company grew its stake in shares of Digimarc by 6.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,339 shares of the information technology services provider’s stock worth $334,000 after buying an additional 540 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Digimarc by 7.9% in the 2nd quarter. Rhumbline Advisers now owns 11,265 shares of the information technology services provider’s stock worth $452,000 after buying an additional 820 shares in the last quarter. Finally, Teachers Advisors LLC grew its stake in shares of Digimarc by 5.4% in the 2nd quarter. Teachers Advisors LLC now owns 17,561 shares of the information technology services provider’s stock worth $705,000 after buying an additional 893 shares in the last quarter. 56.34% of the stock is owned by institutional investors.

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Digimarc Company Profile

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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