Digimarc Corp (DMRC) Given Average Rating of “Buy” by Analysts

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Shares of Digimarc Corp (NASDAQ:DMRC) have received an average recommendation of “Buy” from the six analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $54.50.

A number of brokerages have recently issued reports on DMRC. Craig Hallum raised Digimarc from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Thursday, May 2nd. ValuEngine upgraded shares of Digimarc from a “hold” rating to a “buy” rating in a report on Saturday, February 23rd. Zacks Investment Research lowered shares of Digimarc from a “hold” rating to a “sell” rating in a report on Monday, May 6th. BidaskClub upgraded shares of Digimarc from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $34.00 target price (up from $32.00) on shares of Digimarc in a report on Tuesday, March 12th.

In other news, EVP Tony Rodriguez sold 1,398 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $63.02, for a total transaction of $88,101.96. Following the completion of the sale, the executive vice president now directly owns 53,890 shares in the company, valued at $3,396,147.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Bruce L. Davis sold 15,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $47.90, for a total transaction of $718,500.00. Following the sale, the chief executive officer now owns 41,799 shares of the company’s stock, valued at $2,002,172.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,373 shares of company stock valued at $2,381,804. 6.38% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Baillie Gifford & Co. boosted its holdings in shares of Digimarc by 4.9% during the fourth quarter. Baillie Gifford & Co. now owns 477,820 shares of the information technology services provider’s stock worth $6,928,000 after purchasing an additional 22,297 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in Digimarc by 12.4% in 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 during the period. PEAK6 Investments LLC purchased a new stake in Digimarc in the fourth quarter worth about $292,000. Vanguard Group Inc. lifted its holdings in Digimarc by 4.1% in the third quarter. Vanguard Group Inc. now owns 552,117 shares of the information technology services provider’s stock worth $17,364,000 after buying an additional 21,770 shares during the period. Finally, BlackRock Inc. lifted its holdings in Digimarc by 0.9% in the third quarter. BlackRock Inc. now owns 721,938 shares of the information technology services provider’s stock worth $22,705,000 after buying an additional 6,457 shares during the period. Institutional investors own 57.92% of the company’s stock.

Shares of NASDAQ:DMRC traded up $0.43 on Friday, reaching $64.10. 176,410 shares of the company traded hands, compared to its average volume of 141,110. Digimarc has a 52 week low of $14.03 and a 52 week high of $65.91. The stock has a market capitalization of $777.41 million, a P/E ratio of -22.41 and a beta of 1.15.

Digimarc (NASDAQ:DMRC) last announced its quarterly earnings data on Wednesday, May 1st. The information technology services provider reported ($0.74) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.72) by ($0.02). Digimarc had a negative net margin of 154.70% and a negative return on equity of 55.04%. The company had revenue of $5.66 million for the quarter, compared to the consensus estimate of $5.48 million. As a group, research analysts expect that Digimarc will post -3.01 EPS for the current fiscal year.

About Digimarc

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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