BidaskClub cut shares of Digimarc (NASDAQ:DMRC) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.

DMRC has been the subject of several other research reports. Cowen set a $50.00 price target on Digimarc and gave the company a buy rating in a report on Tuesday, October 24th. Zacks Investment Research cut Digimarc from a hold rating to a sell rating in a report on Tuesday, October 3rd. Finally, B. Riley reaffirmed a buy rating and issued a $44.00 price target on shares of Digimarc in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $45.33.

Digimarc (NASDAQ:DMRC) traded up $0.45 during midday trading on Wednesday, hitting $34.75. The stock had a trading volume of 43,000 shares, compared to its average volume of 69,811. Digimarc has a 1-year low of $24.20 and a 1-year high of $41.75.

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

In other Digimarc news, CEO Bruce L. Davis sold 5,000 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $36.29, for a total transaction of $181,450.00. Following the completion of the sale, the chief executive officer now owns 104,006 shares of the company’s stock, valued at $3,774,377.74. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 sale, the executive vice president now directly owns 63,551 shares of the company’s stock, valued at approximately $2,226,191.53. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,000 shares of company stock valued at $778,160. 7.50% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC increased its stake in Digimarc by 4.3% during the third quarter. Janney Montgomery Scott LLC now owns 80,222 shares of the information technology services provider’s stock worth $2,936,000 after acquiring an additional 3,289 shares during the last quarter. Lagoda Investment Management L.P. increased its stake in Digimarc by 3.1% during the third quarter. Lagoda Investment Management L.P. now owns 687,296 shares of the information technology services provider’s stock worth $25,155,000 after acquiring an additional 20,750 shares during the last quarter. Formula Growth Ltd. acquired a new stake in Digimarc during the third quarter worth $3,614,000. Suffolk Capital Management LLC purchased a new position in shares of Digimarc during the third quarter worth $1,336,000. Finally, Baillie Gifford & Co. boosted its position in shares of Digimarc by 3.4% during the third quarter. Baillie Gifford & Co. now owns 261,462 shares of the information technology services provider’s stock worth $9,570,000 after buying an additional 8,564 shares during the period. 56.00% 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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