Digimarc (NASDAQ:DMRC) Rating Reiterated by Needham & Company LLC

Digimarc (NASDAQ:DMRC)‘s stock had its “hold” rating reissued by equities research analysts at Needham & Company LLC in a research note issued to investors on Monday, Benzinga reports.

Separately, Craig Hallum cut their price objective on Digimarc from $35.00 to $28.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd.

Digimarc Stock Down 0.0 %

Shares of DMRC opened at $22.98 on Monday. Digimarc has a 52-week low of $19.20 and a 52-week high of $43.43. The company has a market cap of $491.08 million, a PE ratio of -11.05 and a beta of 1.18. The business has a fifty day moving average of $26.39 and a 200 day moving average of $31.65.

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

Insider Activity

In other Digimarc news, EVP Tony Rodriguez sold 2,000 shares of the firm’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 transaction, the executive vice president now directly owns 41,259 shares in the company, valued at approximately $1,110,279.69. The transaction 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 company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $26.91, for a total value of $53,820.00. Following the completion of the sale, the executive vice president now directly owns 41,259 shares of the company’s stock, valued at $1,110,279.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Milena Alberti-Perez sold 4,900 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $30.84, for a total transaction of $151,116.00. Following the transaction, the director now directly owns 14,487 shares in the company, valued at approximately $446,779.08. The disclosure for this sale can be found here. Insiders own 19.30% of the company’s stock.

Hedge Funds Weigh In On Digimarc

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bryant Woods Investment Advisors LLC increased its holdings in shares of Digimarc by 0.6% in the fourth quarter. Bryant Woods Investment Advisors LLC now owns 70,548 shares of the information technology services provider’s stock valued at $2,548,000 after purchasing an additional 391 shares during the period. Tower Research Capital LLC TRC raised its position in 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 worth $102,000 after buying an additional 443 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Digimarc by 1.2% during 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 acquiring an additional 700 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Digimarc by 0.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 234,606 shares of the information technology services provider’s stock valued at $7,622,000 after acquiring an additional 901 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Digimarc by 10.4% in 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. Hedge funds and other institutional investors 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.