BidaskClub Lowers Digimarc (DMRC) to Strong Sell
BidaskClub cut shares of Digimarc (NASDAQ:DMRC) from a sell rating to a strong sell rating in a research report released on Thursday morning.
Several other brokerages have also recently issued reports on DMRC. Zacks Investment Research raised shares of Digimarc from a sell rating to a hold rating in a research note on Tuesday, January 23rd. B. Riley reissued a buy rating and set a $44.00 price objective on shares of Digimarc in a research note on Tuesday, November 14th. National Securities set a $43.00 price objective on shares of Digimarc and gave the company a buy rating in a research note on Thursday, February 22nd. ValuEngine raised shares of Digimarc from a sell rating to a hold rating in a research note on Tuesday, February 13th. Finally, Needham & Company LLC lowered their price objective on shares of Digimarc from $42.00 to $38.00 and set a buy rating for the company in a research note on Thursday, February 22nd. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Digimarc currently has an average rating of Hold and an average target price of $43.75.
Shares of Digimarc (NASDAQ:DMRC) traded up $0.40 during midday trading on Thursday, hitting $26.70. 86,561 shares of the stock traded hands, compared to its average volume of 108,957. Digimarc has a one year low of $24.20 and a one year high of $41.75. The stock has a market cap of $316.64, a PE ratio of -10.94 and a beta of -1.09.
In related news, CEO Bruce L. Davis sold 9,444 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $35.78, for a total transaction of $337,906.32. Following the completion of the sale, the chief executive officer now directly owns 87,014 shares of the company’s stock, valued at approximately $3,113,360.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bernard Whitney sold 5,000 shares of the company’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $37.20, for a total transaction of $186,000.00. Following the sale, the director now directly owns 33,630 shares of the company’s stock, valued at $1,251,036. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,444 shares of company stock valued at $855,106. 7.50% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Pratt Collard Advisory Partners LLC purchased a new stake in Digimarc during the 4th quarter worth $5,016,000. FMR LLC purchased a new stake in Digimarc during the 2nd quarter worth $6,413,000. Janney Montgomery Scott LLC boosted its position in Digimarc by 4.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 80,222 shares of the information technology services provider’s stock worth $2,936,000 after purchasing an additional 3,289 shares during the period. Suffolk Capital Management LLC purchased a new stake in Digimarc during the 3rd quarter worth $1,336,000. Finally, Baillie Gifford & Co. boosted its position in Digimarc by 3.4% during the 3rd quarter. Baillie Gifford & Co. now owns 261,462 shares of the information technology services provider’s stock worth $9,570,000 after purchasing an additional 8,564 shares during the period. 60.51% of the stock is owned by hedge funds and other institutional investors.
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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