Renaissance Technologies LLC Takes Position in Digimarc Corporation $DMRC

Key Points

• Renaissance Technologies purchased 167,100 shares of Digimarc, worth approximately $820,000, giving it a 0.76% stake. Institutional investors collectively own 66.85% of DMRC.
• Analyst sentiment is mixed: Needham maintained a Buy rating with a $15 price target, while Wall Street Zen downgraded the stock to Sell and Weiss Ratings reiterated a Sell rating. The overall consensus is Hold with a $15 target.
• Digimarc shares opened at $7.53, compared with a 52-week range of $4.07 to $17.47. The company develops digital watermarking and authentication solutions for images, audio, video and packaging.

Renaissance Technologies LLC purchased a new stake in shares of Digimarc Corporation (NASDAQ:DMRC - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 167,100 shares of the information technology services provider's stock, valued at approximately $820,000. Renaissance Technologies LLC owned approximately 0.76% 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. IMC Chicago LLC acquired a new position in shares of Digimarc in the 1st quarter worth approximately $82,000. Bryant Woods Investment Advisors LLC boosted its stake in Digimarc by 34.2% in the first quarter. Bryant Woods Investment Advisors LLC now owns 95,904 shares of the information technology services provider's stock valued at $471,000 after acquiring an additional 24,438 shares during the period. Private Advisor Group LLC grew its holdings in shares of Digimarc by 12.8% during the first quarter. Private Advisor Group LLC now owns 502,001 shares of the information technology services provider's stock valued at $2,465,000 after purchasing an additional 56,829 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Digimarc by 296.9% during the first quarter. Janney Montgomery Scott LLC now owns 55,034 shares of the information technology services provider's stock valued at $270,000 after purchasing an additional 41,168 shares during the last quarter. Finally, Silverberg Bernstein Capital Management LLC grew its holdings in shares of Digimarc by 7.6% during the first quarter. Silverberg Bernstein Capital Management LLC now owns 779,255 shares of the information technology services provider's stock valued at $3,826,000 after purchasing an additional 55,110 shares during the last quarter. Hedge funds and other institutional investors own 66.85% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on DMRC. Needham & Company LLC reissued a "buy" rating and issued a $15.00 price target on shares of Digimarc in a report on Friday. Wall Street Zen lowered Digimarc from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Digimarc in a research note on Friday, July 17th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $15.00.

Digimarc Price Performance

DMRC stock opened at $7.53 on Friday. Digimarc Corporation has a 52-week low of $4.07 and a 52-week high of $17.47. The company's 50 day simple moving average is $7.87 and its 200-day simple moving average is $7.49. The firm has a market capitalization 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.

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