Digimarc Corporation (DMRC) Position Trimmed by Granite Investment Partners LLC
Granite Investment Partners LLC decreased its position in shares of Digimarc Corporation (NASDAQ:DMRC) by 34.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,965 shares of the information technology services provider’s stock after selling 15,170 shares during the quarter. Granite Investment Partners LLC owned 0.26% of Digimarc Corporation worth $1,060,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of DMRC. FMR LLC bought a new stake in Digimarc Corporation during the second quarter worth about $6,413,000. Baillie Gifford & Co. raised its stake in Digimarc Corporation by 44.9% during the second quarter. Baillie Gifford & Co. now owns 252,898 shares of the information technology services provider’s stock worth $10,154,000 after acquiring an additional 78,398 shares in the last quarter. Essex Investment Management Co. LLC acquired a new position in Digimarc Corporation during the second quarter worth about $2,757,000. Lagoda Investment Management L.P. raised its stake in Digimarc Corporation by 9.5% during the second quarter. Lagoda Investment Management L.P. now owns 666,546 shares of the information technology services provider’s stock worth $26,762,000 after acquiring an additional 58,053 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Digimarc Corporation by 9.8% during the first quarter. Vanguard Group Inc. now owns 433,039 shares of the information technology services provider’s stock worth $11,692,000 after acquiring an additional 38,804 shares in the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.
Digimarc Corporation (DMRC) traded up $0.15 during trading on Thursday, hitting $38.30. The stock had a trading volume of 37,800 shares, compared to its average volume of 70,717. Digimarc Corporation has a one year low of $24.20 and a one year high of $41.75.
Digimarc Corporation (NASDAQ:DMRC) last released its quarterly earnings data on Thursday, October 26th. The information technology services provider reported ($0.39) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.69) by $0.30. Digimarc Corporation had a negative return on equity of 30.98% and a negative net margin of 90.69%. The company had revenue of $8.68 million during the quarter, compared to the consensus estimate of $5.72 million. During the same quarter in the prior year, the firm posted ($0.55) earnings per share. The firm’s revenue was up 55.6% compared to the same quarter last year. analysts expect that Digimarc Corporation will post -2.44 EPS for the current fiscal year.
Several brokerages have commented on DMRC. Zacks Investment Research raised Digimarc Corporation from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. B. Riley reissued a “buy” rating and set a $44.00 target price on shares of Digimarc Corporation in a research note on Tuesday, November 14th. Finally, Cowen and Company set a $50.00 target price on Digimarc Corporation and gave the stock a “buy” rating in a research note on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $45.33.
In other news, Director Bernard Whitney sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $35.00, for a total value of $175,000.00. Following the completion of the transaction, the director now owns 33,630 shares of the company’s stock, valued at $1,177,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joel Meyer sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $35.03, for a total value of $245,210.00. Following the completion of the transaction, the executive vice president now directly owns 63,551 shares of the company’s stock, valued at approximately $2,226,191.53. The disclosure for this sale can be found here. Insiders sold 17,000 shares of company stock valued at $596,710 in the last ninety days. 7.50% of the stock is currently owned by insiders.
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Digimarc Corporation 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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