Digimarc (DMRC) Trading Up 14.5%

Digimarc Corp (NASDAQ:DMRC) was up 14.5% during mid-day trading on Monday . The company traded as high as $56.60 and last traded at $54.93. Approximately 500,111 shares changed hands during trading, an increase of 308% from the average daily volume of 122,675 shares. The stock had previously closed at $47.96.

A number of equities research analysts have issued reports on DMRC shares. Zacks Investment Research lowered shares of Digimarc from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. BidaskClub upgraded shares of Digimarc from a “buy” rating to a “strong-buy” rating in a report on Monday, February 25th. National Securities lowered shares of Digimarc from a “buy” rating to a “neutral” rating in a report on Monday. 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. Finally, ValuEngine upgraded shares of Digimarc from a “hold” rating to a “buy” rating in a report on Saturday, February 23rd. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $38.25.

The firm has a market cap of $581.99 million, a price-to-earnings ratio of -19.21 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 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 52.15%. The firm had revenue of $5.66 million during the quarter, compared to analyst estimates of $5.48 million. As a group, equities research analysts expect that Digimarc Corp will post -3.01 earnings per share for the current fiscal year.

In other news, Director Bernard Whitney sold 2,500 shares of the firm’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $29.63, for a total value of $74,075.00. Following the sale, the director now directly owns 21,318 shares in the company, valued at approximately $631,652.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James T. Richardson sold 5,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $33.02, for a total transaction of $165,100.00. Following the completion of the sale, the director now owns 76,605 shares in the company, valued at $2,529,497.10. The disclosure for this sale can be found here. Insiders sold a total of 15,260 shares of company stock worth $484,017 over the last 90 days. Company insiders own 6.38% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA grew its position in shares of Digimarc by 58,800.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,356 shares of the information technology services provider’s stock valued at $74,000 after buying an additional 2,352 shares during the last quarter. MetLife Investment Advisors LLC grew its position in shares of Digimarc by 66.7% in the 3rd quarter. MetLife Investment Advisors LLC now owns 6,573 shares of the information technology services provider’s stock valued at $207,000 after buying an additional 2,630 shares during the last quarter. Rhumbline Advisers grew its position in shares of Digimarc by 45.9% in the 4th quarter. Rhumbline Advisers now owns 15,042 shares of the information technology services provider’s stock valued at $218,000 after buying an additional 4,732 shares during the last quarter. Two Sigma Investments LP purchased a new position in shares of Digimarc in the 4th quarter valued at $223,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in shares of Digimarc in the 1st quarter valued at $238,000. Institutional investors and hedge funds own 57.46% of the company’s stock.

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Digimarc Company Profile (NASDAQ:DMRC)

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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