Digimarc (DMRC) Rating Lowered to Sell at BidaskClub

Digimarc (NASDAQ:DMRC) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Thursday.

Several other research analysts have also recently issued reports on the company. Zacks Investment Research cut Digimarc from a “hold” rating to a “sell” rating in a research note on Tuesday. B. Riley reissued a “buy” rating and issued a $44.00 price target on shares of Digimarc in a research note on Tuesday, November 14th. Finally, Cowen set a $50.00 price target on Digimarc and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $45.33.

Digimarc (NASDAQ:DMRC) opened at $36.65 on Thursday. Digimarc has a 52 week low of $24.20 and a 52 week high of $41.75.

Digimarc (NASDAQ:DMRC) last released its quarterly earnings results on Thursday, October 26th. The information technology services provider reported ($0.39) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $8.68 million during the quarter, compared to analysts’ expectations of $5.72 million. During the same quarter in the prior year, the business posted ($0.55) earnings per share. The company’s revenue for the quarter was up 55.6% compared to the same quarter last year. equities research analysts predict that Digimarc will post -2.32 EPS for the current fiscal year.

In other news, EVP Joel Meyer sold 7,000 shares of the company’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 sale, the executive vice president now owns 63,551 shares in the company, valued at $2,226,191.53. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bernard Whitney sold 5,000 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $35.00, for a total value of $175,000.00. Following the completion of the sale, the director now owns 33,630 shares of the company’s stock, valued at approximately $1,177,050. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,444 shares of company stock valued at $1,480,616. Insiders own 7.50% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. lifted its holdings in shares of Digimarc by 44.9% in the second quarter. Baillie Gifford & Co. now owns 252,898 shares of the information technology services provider’s stock valued at $10,154,000 after buying an additional 78,398 shares during the period. Senvest Management LLC lifted its holdings in shares of Digimarc by 1.5% in the second quarter. Senvest Management LLC now owns 1,004,234 shares of the information technology services provider’s stock valued at $40,320,000 after buying an additional 15,152 shares during the period. FMR LLC acquired a new stake in shares of Digimarc in the second quarter valued at $6,413,000. Suffolk Capital Management LLC acquired a new stake in shares of Digimarc in the third quarter valued at $1,336,000. Finally, Alliancebernstein L.P. acquired a new stake in shares of Digimarc in the second quarter valued at $301,000. Institutional investors and hedge funds own 53.42% of the company’s stock.

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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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