James T. Richardson Sells 5,000 Shares of Digimarc Corp (NASDAQ:DMRC) Stock

Digimarc Corp (NASDAQ:DMRC) Director James T. Richardson sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $32.00, for a total transaction of $160,000.00. Following the transaction, the director now directly owns 71,605 shares in the company, valued at $2,291,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

NASDAQ DMRC opened at $28.26 on Wednesday. Digimarc Corp has a 12-month low of $14.03 and a 12-month high of $34.80. The firm has a market capitalization of $336.20 million, a price-to-earnings ratio of -9.88 and a beta of 1.20.

Digimarc (NASDAQ:DMRC) last released its quarterly earnings results on Thursday, February 21st. The information technology services provider reported ($0.70) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.77) by $0.07. Digimarc had a negative net margin of 153.39% and a negative return on equity of 49.05%. The business had revenue of $5.23 million for the quarter, compared to analyst estimates of $5.33 million. As a group, sell-side analysts anticipate that Digimarc Corp will post -2.89 EPS for the current fiscal year.

A number of equities analysts have recently commented on DMRC shares. BidaskClub raised shares of Digimarc from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 25th. Zacks Investment Research raised shares of Digimarc from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Tuesday, February 26th. Needham & Company LLC reissued a “buy” rating and set a $34.00 price objective (up from $32.00) on shares of Digimarc in a report on Tuesday, March 12th. Finally, ValuEngine raised shares of Digimarc from a “hold” rating to a “buy” rating in a report on Saturday, February 23rd. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $37.00.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC lifted its stake in shares of Digimarc by 66.7% during the third quarter. MetLife Investment Advisors LLC now owns 6,573 shares of the information technology services provider’s stock worth $207,000 after buying an additional 2,630 shares during the period. Rhumbline Advisers lifted its position in Digimarc by 45.9% during the fourth quarter. Rhumbline Advisers now owns 15,042 shares of the information technology services provider’s stock valued at $218,000 after purchasing an additional 4,732 shares during the period. Two Sigma Investments LP acquired a new position in Digimarc during the fourth quarter valued at $223,000. Dimensional Fund Advisors LP acquired a new position in Digimarc during the third quarter valued at $245,000. Finally, Corrado Advisors LLC acquired a new position in Digimarc during the first quarter valued at $251,000. 57.39% of the stock is currently owned by institutional investors and hedge funds.

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Digimarc Company Profile

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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