Digimarc (NASDAQ:DMRC) Price Target Cut to $28.00

Digimarc (NASDAQ:DMRC) had its price target cut by analysts at Craig Hallum from $35.00 to $28.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the information technology services provider’s stock. Craig Hallum’s price target suggests a potential upside of 22.38% from the company’s previous close.

Digimarc Trading Up 1.2 %

Shares of DMRC stock opened at $22.88 on Friday. Digimarc has a twelve month low of $17.61 and a twelve month high of $43.43. The stock has a fifty day simple moving average of $27.07 and a two-hundred day simple moving average of $31.65. The stock has a market capitalization of $488.95 million, a price-to-earnings ratio of -11.00 and a beta of 1.18.

Digimarc (NASDAQ:DMRC) last released its quarterly earnings data on Wednesday, February 28th. The information technology services provider reported ($0.41) earnings per share for the quarter. The business had revenue of $9.28 million during the quarter. Digimarc had a negative return on equity of 48.42% and a negative net margin of 114.38%.

Insiders Place Their Bets

In related news, EVP Tony Rodriguez sold 2,000 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $26.91, for a total transaction of $53,820.00. Following the completion of the sale, the executive vice president now directly owns 41,259 shares in the company, valued at approximately $1,110,279.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Tony Rodriguez sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $26.91, for a total transaction of $53,820.00. Following the completion of the transaction, the executive vice president now owns 41,259 shares in the company, valued at approximately $1,110,279.69. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Milena Alberti-Perez sold 4,900 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $30.84, for a total transaction of $151,116.00. Following the completion of the sale, the director now owns 14,487 shares of the company’s stock, valued at $446,779.08. The disclosure for this sale can be found here. 20.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Digimarc

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bryant Woods Investment Advisors LLC raised its holdings in shares of Digimarc by 0.6% during the fourth quarter. Bryant Woods Investment Advisors LLC now owns 70,548 shares of the information technology services provider’s stock worth $2,548,000 after purchasing an additional 391 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Digimarc by 18.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,824 shares of the information technology services provider’s stock valued at $102,000 after buying an additional 443 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Digimarc by 1.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 61,495 shares of the information technology services provider’s stock valued at $1,998,000 after buying an additional 700 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Digimarc by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 234,606 shares of the information technology services provider’s stock worth $7,622,000 after buying an additional 901 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Digimarc by 10.4% during the first quarter. BNP Paribas Financial Markets now owns 12,770 shares of the information technology services provider’s stock worth $347,000 after acquiring an additional 1,207 shares during the period. Institutional investors and hedge funds own 66.85% of the company’s stock.

Digimarc Company Profile

Digimarc Corporation, together with its subsidiaries, provides automatic identification solutions to commercial and government customers in the United States and internationally. The company offers Digimarc Validate protects, a cloud-based record of product authentication information; Digimarc Engage, an interactive communications channel connecting brands and consumers; and Digimarc Recycle.