Digimarc (DMRC) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Digimarc (NASDAQ:DMRC) from a hold rating to a sell rating in a report published on Tuesday.

According to Zacks, “DIGIMARC CORPORATION based in Beaverton, Oregon, is a leading innovator and technology provider, enabling businesses and governments worldwide to enrich everyday living by giving persistent digital identities to all forms of media and objects. The company’s technology enables a wide range of solutions for enhancing traffic safety and national security, deterring fraud, counterfeiting and piracy, and enabling new digital media distribution and monetization models that provide consumers with more choice and access to content when, where and how they want it. Digimarc licenses its intellectual property to business partners across a range of industries, delivers solutions for protecting and managing digital images, and offers professional development services to bring strategic initiatives to market. “

Several other brokerages also recently commented on DMRC. B. Riley reiterated a buy rating and set a $44.00 target price on shares of Digimarc in a research note on Tuesday, November 14th. Cowen reiterated a buy rating and set a $50.00 target price on shares of Digimarc in a research note on Sunday, September 17th. Finally, BidaskClub upgraded Digimarc from a sell rating to a hold rating in a research note on Thursday, December 21st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Digimarc presently has an average rating of Hold and an average price target of $45.33.

Digimarc (NASDAQ:DMRC) traded up $0.25 during trading on Tuesday, hitting $36.05. The company had a trading volume of 28,700 shares, compared to its average volume of 44,167. The stock has a market cap of $405.58, a P/E ratio of -16.02 and a beta of -1.19. Digimarc has a 52 week low of $24.20 and a 52 week high of $41.75.

Digimarc (NASDAQ:DMRC) last issued its earnings results on Thursday, October 26th. The information technology services provider reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.30. Digimarc had a negative return on equity of 30.98% and a negative net margin of 90.69%. 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 business posted ($0.55) EPS. The company’s revenue was up 55.6% compared to the same quarter last year. research analysts forecast that Digimarc will post -2.32 EPS for the current year.

In other news, CEO Bruce L. Davis sold 5,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $35.71, for a total value of $178,550.00. Following the transaction, the chief executive officer now directly owns 92,014 shares in the company, valued at approximately $3,285,819.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Joel Meyer sold 7,000 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $35.03, for a total value of $245,210.00. Following the completion of the transaction, the executive vice president now directly owns 63,551 shares in the company, valued at $2,226,191.53. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,444 shares of company stock worth $1,480,616. Company insiders own 7.50% of the company’s stock.

A number of institutional investors have recently made changes to their positions in DMRC. Wolverine Trading LLC bought a new position in Digimarc in the 2nd quarter worth $272,000. Alliancebernstein L.P. bought a new stake in Digimarc during the second quarter valued at about $301,000. The Manufacturers Life Insurance Company raised its holdings in Digimarc by 6.9% during the second quarter. The Manufacturers Life Insurance Company now owns 8,339 shares of the information technology services provider’s stock valued at $334,000 after acquiring an additional 540 shares during the period. Rhumbline Advisers raised its holdings in Digimarc by 7.9% during the second quarter. Rhumbline Advisers now owns 11,265 shares of the information technology services provider’s stock valued at $452,000 after acquiring an additional 820 shares during the period. Finally, Teachers Advisors LLC raised its holdings in Digimarc by 5.4% during the second quarter. Teachers Advisors LLC now owns 17,561 shares of the information technology services provider’s stock valued at $705,000 after acquiring an additional 893 shares during the period. 53.42% of the stock is currently owned by institutional investors.

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About Digimarc

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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