Beaconlight Capital LLC Invests $2.79 Million in Digimarc Corporation $DMRC

Key Points

• Beaconlight Capital acquired 338,948 Digimarc shares worth approximately $2.79 million, giving it a 1.51% stake and making DMRC about 1% of its portfolio.
• Institutional investors and hedge funds own 66.85% of Digimarc, with several firms recently initiating or increasing positions.
• Digimarc shares opened at $6.01, well below the $15 consensus analyst target. Ratings are mixed, with one analyst at Buy and two at Sell, resulting in a consensus Hold rating.

Beaconlight Capital LLC 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 SEC. The firm bought 338,948 shares of the information technology services provider's stock, valued at approximately $2,786,000. Digimarc accounts for approximately 1.0% of Beaconlight Capital LLC's holdings, making the stock its 25th biggest position. Beaconlight Capital LLC owned 1.51% of Digimarc at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of DMRC. Invesco Ltd. bought a new position in shares of Digimarc during the fourth quarter valued at $78,000. IMC Chicago LLC bought a new stake in shares of Digimarc in the 1st quarter worth about $82,000. Janney Montgomery Scott LLC grew its holdings in shares of Digimarc by 25.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 13,866 shares of the information technology services provider's stock worth $91,000 after purchasing an additional 2,800 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Digimarc during the 4th quarter worth about $96,000. Finally, Bank of America Corp DE increased its position in shares of Digimarc by 13.4% during the 1st quarter. Bank of America Corp DE now owns 19,700 shares of the information technology services provider's stock worth $97,000 after purchasing an additional 2,325 shares in the last quarter. Institutional investors and hedge funds own 66.85% of the company's stock.

Digimarc Price Performance

Digimarc stock opened at $6.01 on Monday. The stock has a 50-day simple moving average of $6.95 and a 200 day simple moving average of $7.54. The stock has a market capitalization of $134.68 million, a price-to-earnings ratio of -4.20 and a beta of 2.30. Digimarc Corporation has a 12-month low of $4.07 and a 12-month high of $17.47.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DMRC. Needham & Company LLC reaffirmed a "buy" rating and set a $15.00 price objective on shares of Digimarc in a research note on Friday, August 14th. Wall Street Zen cut shares of Digimarc from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Digimarc in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the 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 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.

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