Connors Investor Services Inc. Trims Position in Digimarc Corporation (DMRC)
Connors Investor Services Inc. lowered its position in shares of Digimarc Corporation (NASDAQ:DMRC) by 8.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,500 shares of the information technology services provider’s stock after selling 1,000 shares during the period. Connors Investor Services Inc. owned about 0.11% of Digimarc Corporation worth $462,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of DMRC. American International Group Inc. grew its position in Digimarc Corporation by 8.1% during the 1st quarter. American International Group Inc. now owns 5,198 shares of the information technology services provider’s stock worth $140,000 after acquiring an additional 391 shares during the last quarter. Alliancebernstein L.P. bought a new stake in Digimarc Corporation during the 2nd quarter worth $301,000. Berson & Corrado Investment Advisors LLC bought a new stake in Digimarc Corporation during the 2nd quarter worth $385,000. Cornerstone Financial Partners LLC bought a new stake in Digimarc Corporation during the 2nd quarter worth $405,000. Finally, Teachers Advisors LLC grew its position in Digimarc Corporation by 6.8% during the 4th quarter. Teachers Advisors LLC now owns 13,884 shares of the information technology services provider’s stock worth $417,000 after acquiring an additional 881 shares during the last quarter. Institutional investors and hedge funds own 52.75% of the company’s stock.
Shares of Digimarc Corporation (NASDAQ:DMRC) opened at 32.70 on Friday. Digimarc Corporation has a 12 month low of $24.20 and a 12 month high of $41.75. The company’s 50-day moving average price is $30.13 and its 200-day moving average price is $30.79. The company’s market cap is $352.18 million.
Digimarc Corporation (NASDAQ:DMRC) last announced its quarterly earnings data on Wednesday, July 26th. The information technology services provider reported ($0.68) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.68). Digimarc Corporation had a negative return on equity of 32.18% and a negative net margin of 107.49%. The firm had revenue of $5.59 million for the quarter, compared to analysts’ expectations of $5.69 million. During the same period last year, the firm earned ($0.62) earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. Analysts anticipate that Digimarc Corporation will post ($2.68) EPS for the current year.
A number of equities research analysts recently weighed in on the company. Cowen and Company restated a “buy” rating and set a $50.00 price objective on shares of Digimarc Corporation in a research report on Sunday, September 17th. B. Riley restated a “buy” rating and set a $44.00 price objective on shares of Digimarc Corporation in a research report on Saturday, July 29th. BidaskClub lowered Digimarc Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research lowered Digimarc Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Finally, Needham & Company LLC restated a “buy” rating and set a $42.00 price objective on shares of Digimarc Corporation in a research report on Monday, July 10th. Two equities research 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. Digimarc Corporation currently has an average rating of “Hold” and a consensus price target of $45.75.
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In other news, CFO Charles Beck sold 1,000 shares of the firm’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $40.33, for a total transaction of $40,330.00. Following the transaction, the chief financial officer now directly owns 39,075 shares of the company’s stock, valued at $1,575,894.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Bruce L. Davis sold 4,300 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $38.67, for a total value of $166,281.00. Following the transaction, the chief executive officer now directly owns 57,144 shares in the company, valued at $2,209,758.48. The disclosure for this sale can be found here. Insiders have sold 6,000 shares of company stock worth $233,330 over the last ninety days. Insiders own 7.50% of the company’s stock.
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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