Digimarc Corporation (DMRC) Stake Lowered by Armbruster Capital Management Inc.
Armbruster Capital Management Inc. lowered its position in shares of Digimarc Corporation (NASDAQ:DMRC) by 7.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,500 shares of the information technology services provider’s stock after selling 500 shares during the period. Armbruster Capital Management Inc. owned 0.06% of Digimarc Corporation worth $261,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. American International Group Inc. boosted its position in shares of Digimarc Corporation by 8.1% in the first quarter. American International Group Inc. now owns 5,198 shares of the information technology services provider’s stock worth $140,000 after buying an additional 391 shares in the last quarter. WealthTrust Arizona LLC boosted its position in shares of Digimarc Corporation by 3.9% in the first quarter. WealthTrust Arizona LLC now owns 5,285 shares of the information technology services provider’s stock worth $143,000 after buying an additional 200 shares in the last quarter. Berson & Corrado Investment Advisors LLC purchased a new position in shares of Digimarc Corporation during the second quarter worth $385,000. Cornerstone Financial Partners LLC purchased a new position in shares of Digimarc Corporation during the second quarter worth $405,000. Finally, Teachers Advisors LLC boosted its position in shares of Digimarc Corporation by 6.8% in the fourth quarter. Teachers Advisors LLC now owns 13,884 shares of the information technology services provider’s stock worth $417,000 after buying an additional 881 shares in the last quarter. 54.39% of the stock is currently owned by institutional investors.
Digimarc Corporation (DMRC) traded down 0.447% during midday trading on Friday, hitting $27.825. The company had a trading volume of 19,561 shares. The company’s market capitalization is $299.68 million. The stock has a 50 day moving average price of $31.73 and a 200 day moving average price of $29.95. Digimarc Corporation has a 52 week low of $24.20 and a 52 week high of $41.75.
Digimarc Corporation (NASDAQ:DMRC) last issued its quarterly earnings results on Wednesday, July 26th. The information technology services provider reported ($0.68) earnings per share for the quarter, hitting the consensus estimate of ($0.68). The firm had revenue of $5.59 million for the quarter, compared to the consensus estimate of $5.69 million. Digimarc Corporation had a negative return on equity of 32.18% and a negative net margin of 107.49%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.62) earnings per share. Equities analysts forecast that Digimarc Corporation will post ($2.69) earnings per share for the current fiscal year.
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A number of equities analysts recently weighed in on DMRC shares. Needham & Company LLC reissued a “buy” rating and set a $42.00 price objective on shares of Digimarc Corporation in a report on Monday, July 10th. Cowen and Company set a $50.00 price target on Digimarc Corporation and gave the stock a “buy” rating in a research note on Monday, July 10th. B. Riley reaffirmed a “buy” rating and issued a $44.00 price target on shares of Digimarc Corporation in a research note on Sunday, April 30th. Zacks Investment Research raised Digimarc Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, ValuEngine raised Digimarc Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $45.75.
In other news, CEO Bruce L. Davis sold 700 shares of Digimarc Corporation stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $38.17, for a total value of $26,719.00. Following the transaction, the chief executive officer now directly owns 57,144 shares in the company, valued at approximately $2,181,186.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tony Rodriguez sold 2,000 shares of Digimarc Corporation stock in a transaction on Monday, June 19th. The shares were sold at an average price of $37.75, for a total value of $75,500.00. Following the completion of the transaction, the insider now owns 29,887 shares in the company, valued at $1,128,234.25. The disclosure for this sale can be found here. Insiders have sold a total of 10,000 shares of company stock worth $379,430 over the last 90 days. 7.50% of the stock is currently owned by company insiders.
Digimarc Corporation 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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