Renaissance Technologies LLC Acquires New Shares in Digimarc Corporation $DMRC

Renaissance Technologies LLC bought a new stake in Digimarc Corporation (NASDAQ:DMRC) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 167,100 shares of the information technology services provider’s stock, valued at approximately $820,000.

Several other hedge funds also recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new stake in shares of Digimarc during the 1st quarter worth $128,000. Engineers Gate Manager LP bought a new stake in Digimarc during the 2nd quarter valued at approximately $132,000. Invesco Ltd. acquired a new stake in Digimarc in the 4th quarter valued at approximately $78,000. Jump Financial LLC acquired a new stake in Digimarc in the 2nd quarter valued at approximately $163,000. Finally, Voleon Capital Management LP bought a new position in Digimarc in the 3rd quarter worth approximately $129,000. 66.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DMRC has been the subject of several research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Digimarc in a research report on Friday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 target price on shares of Digimarc in a research report on Friday. Finally, Wall Street Zen cut shares of Digimarc from a “hold” rating to a “sell” rating in a research note on Saturday. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Digimarc presently has an average rating of “Hold” and an average target price of $15.00.

Digimarc Stock Up 7.0%

Shares of NASDAQ:DMRC opened at $7.53 on Friday. Digimarc Corporation has a 12 month low of $4.07 and a 12 month high of $17.47. The company’s 50-day moving average price is $7.87 and its two-hundred day moving average price is $7.49. The firm has a market cap of $168.72 million, a P/E ratio of -5.27 and a beta of 2.30.

Digimarc Company Profile

Digimarc Corporation is a technology company specializing in digital identification and authentication solutions. Its core offering centers on embedding imperceptible digital watermarks into images, audio, video and packaging materials. These watermarks carry unique identifiers that enable secure tracking, brand protection and content provenance across print and digital channels.

The company’s product suite includes software development kits and cloud-based services that allow enterprises to integrate digital watermarking into their existing workflows.