Kimelman & Baird LLC Takes Position in Digimarc Corporation $DMRC

Key Points

• Kimelman & Baird LLC acquired 1.09 million Digimarc shares worth approximately $9.0 million, giving it a 4.88% stake. Institutional investors and hedge funds collectively own 66.85% of DMRC.
• Analyst sentiment is mixed: Needham maintained a “Buy” rating with a $15 price target, while Weiss Ratings and Wall Street Zen issued “Sell” ratings. MarketBeat’s consensus is “Hold” with a $15 target.
• Digimarc shares opened at $6.01, with a market capitalization of about $134.7 million, well below the 52-week high of $17.47.

Kimelman & Baird LLC purchased a new position in Digimarc Corporation (NASDAQ:DMRC - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,093,033 shares of the information technology services provider's stock, valued at approximately $8,985,000. Kimelman & Baird LLC owned approximately 4.88% of Digimarc at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Digimarc in the 2nd quarter worth approximately $8,747,000. Bank of New York Mellon Corp purchased a new stake in shares of Digimarc in the second quarter valued at approximately $1,930,000. Quantinno Capital Management LP increased its holdings in shares of Digimarc by 179.6% in the first quarter. Quantinno Capital Management LP now owns 293,249 shares of the information technology services provider's stock valued at $1,440,000 after purchasing an additional 188,361 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Digimarc in the first quarter valued at approximately $820,000. Finally, Millennium Management LLC lifted its position in Digimarc by 123.1% during the fourth quarter. Millennium Management LLC now owns 268,986 shares of the information technology services provider's stock worth $1,765,000 after buying an additional 148,435 shares in the last quarter. 66.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DMRC has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Digimarc in a research note on Friday, July 17th. 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. Finally, Wall Street Zen lowered shares of Digimarc from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $15.00.

Digimarc Stock Down 3.7%

Shares of Digimarc stock opened at $6.01 on Friday. The firm has a market cap of $134.68 million, a PE ratio of -4.20 and a beta of 2.30. Digimarc Corporation has a 52 week low of $4.07 and a 52 week high of $17.47. The business's fifty day simple moving average is $6.95 and its 200-day simple moving average is $7.52.

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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