Digimarc (DMRC) Announces Quarterly Earnings Results, Misses Expectations By $0.02 EPS

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Digimarc (NASDAQ:DMRC) announced its quarterly earnings results on Wednesday. The information technology services provider reported ($0.74) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.72) by ($0.02), Bloomberg Earnings reports. Digimarc had a negative return on equity of 49.05% and a negative net margin of 153.39%. The company had revenue of $5.66 million for the quarter, compared to analyst estimates of $5.48 million.

Shares of NASDAQ:DMRC traded up $0.04 during midday trading on Friday, hitting $47.96. The stock had a trading volume of 484,222 shares, compared to its average volume of 118,225. The company has a market cap of $582.00 million, a price-to-earnings ratio of -16.77 and a beta of 1.15. Digimarc has a 1 year low of $14.03 and a 1 year high of $50.80.

Several brokerages recently commented on DMRC. Craig Hallum upgraded shares of Digimarc from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Thursday. BidaskClub raised shares of Digimarc from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 target price (up previously from $32.00) on shares of Digimarc in a report on Tuesday, March 12th. ValuEngine raised shares of Digimarc from a “hold” rating to a “buy” rating in a report on Saturday, February 23rd. Finally, Zacks Investment Research downgraded shares of Digimarc from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Digimarc currently has an average rating of “Buy” and an average target price of $38.25.

In other news, Director Bernard Whitney sold 2,500 shares of Digimarc stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $29.63, for a total value of $74,075.00. Following the sale, the director now owns 21,318 shares of the company’s stock, valued at $631,652.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Aimee Arana sold 2,760 shares of the business’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $30.74, for a total transaction of $84,842.40. Following the sale, the executive vice president now directly owns 36,065 shares in the company, valued at approximately $1,108,638.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,260 shares of company stock worth $484,017. Insiders own 6.38% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its holdings in Digimarc by 58,800.0% during the first quarter. BNP Paribas Arbitrage SA now owns 2,356 shares of the information technology services provider’s stock worth $74,000 after buying an additional 2,352 shares in the last quarter. MetLife Investment Advisors LLC boosted its holdings in Digimarc by 66.7% during the third quarter. MetLife Investment Advisors LLC now owns 6,573 shares of the information technology services provider’s stock worth $207,000 after buying an additional 2,630 shares in the last quarter. Bank of America Corp DE boosted its holdings in Digimarc by 17.5% during the fourth quarter. Bank of America Corp DE now owns 23,737 shares of the information technology services provider’s stock worth $344,000 after buying an additional 3,541 shares in the last quarter. Rhumbline Advisers boosted its holdings in Digimarc by 45.9% during the fourth quarter. Rhumbline Advisers now owns 15,042 shares of the information technology services provider’s stock worth $218,000 after buying an additional 4,732 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in Digimarc by 12.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 47,547 shares of the information technology services provider’s stock worth $689,000 after buying an additional 5,228 shares in the last quarter. 57.46% of the stock is currently owned by hedge funds and other institutional investors.

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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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Earnings History for Digimarc (NASDAQ:DMRC)

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