Bank of New York Mellon Corp Takes Position in Digimarc Corporation $DMRC

Key Points

• Bank of New York Mellon acquired 234,789 Digimarc shares worth approximately $1.93 million, representing about 1.05% of the company. Institutional investors and hedge funds collectively own 66.85% of DMRC.
• Analyst sentiment is mixed: Wall Street Zen and Weiss Ratings assigned sell ratings, while Needham maintained a buy rating with a $15 price target. The overall consensus is Hold with a $15 target.
• Digimarc shares opened at $5.28, well below their 50-day average of $6.61 and 200-day average of $7.56, with a 52-week range of $4.07 to $17.47 and a market capitalization of approximately $118 million.

Bank of New York Mellon Corp bought a new position in shares of Digimarc Corporation (NASDAQ:DMRC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 234,789 shares of the information technology services provider's stock, valued at approximately $1,930,000. Bank of New York Mellon Corp owned about 1.05% of Digimarc at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DMRC. Cubist Systematic Strategies LLC acquired a new stake in shares of Digimarc in the first quarter valued at about $128,000. Jane Street Group LLC boosted its position in Digimarc by 915.0% during the first quarter. Jane Street Group LLC now owns 69,538 shares of the information technology services provider's stock valued at $891,000 after purchasing an additional 62,687 shares during the last quarter. Geode Capital Management LLC boosted its position in Digimarc by 1.4% during the second quarter. Geode Capital Management LLC now owns 371,835 shares of the information technology services provider's stock valued at $4,913,000 after purchasing an additional 5,191 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Digimarc by 17.8% in the second quarter. JPMorgan Chase & Co. now owns 106,375 shares of the information technology services provider's stock valued at $1,405,000 after purchasing an additional 16,106 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Digimarc during the 2nd quarter worth approximately $190,000. 66.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wall Street Zen cut shares of Digimarc from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Weiss Ratings restated a "sell (e+)" rating on shares of Digimarc in a research note on Friday, July 17th. Finally, Needham & Company LLC reissued a "buy" rating and set a $15.00 price target on shares of Digimarc in a research report on Friday, August 14th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $15.00.

Digimarc Stock Performance

DMRC opened at $5.28 on Wednesday. The stock has a fifty day moving average of $6.61 and a 200-day moving average of $7.56. The company has a market capitalization of $118.32 million, a P/E ratio of -3.69 and a beta of 2.29. Digimarc Corporation has a fifty-two week low of $4.07 and a fifty-two week high of $17.47.

About Digimarc

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.

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