Lagoda Investment Management L.P. lifted its holdings in shares of Digimarc Corporation (NASDAQ:DMRC) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 687,296 shares of the information technology services provider’s stock after purchasing an additional 20,750 shares during the quarter. Digimarc accounts for about 9.1% of Lagoda Investment Management L.P.’s portfolio, making the stock its biggest position. Lagoda Investment Management L.P. owned about 6.07% of Digimarc worth $25,155,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in DMRC. Wolverine Trading LLC acquired a new stake in shares of Digimarc during the second quarter worth about $272,000. Alliancebernstein L.P. bought a new position in shares of Digimarc during the second quarter worth about $301,000. The Manufacturers Life Insurance Company grew its holdings in shares of Digimarc by 6.9% during the second quarter. The Manufacturers Life Insurance Company now owns 8,339 shares of the information technology services provider’s stock worth $334,000 after buying an additional 540 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Digimarc by 7.9% during the second quarter. Rhumbline Advisers now owns 11,265 shares of the information technology services provider’s stock worth $452,000 after buying an additional 820 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Digimarc by 2.1% during the first quarter. Bank of America Corp DE now owns 20,857 shares of the information technology services provider’s stock worth $563,000 after buying an additional 431 shares in the last quarter. 56.00% of the stock is currently owned by institutional investors.
A number of research analysts recently issued reports on the company. BidaskClub downgraded Digimarc from a “hold” rating to a “sell” rating in a report on Wednesday. Zacks Investment Research downgraded Digimarc from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Cowen set a $50.00 price target on Digimarc and gave the company a “buy” rating in a research note on Tuesday, October 24th. Finally, B. Riley restated a “buy” rating and issued a $44.00 price target on shares of Digimarc in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $45.33.
Digimarc (NASDAQ:DMRC) last issued its earnings results on Thursday, October 26th. The information technology services provider reported ($0.39) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.69) by $0.30. The company had revenue of $8.68 million during the quarter, compared to the consensus estimate of $5.72 million. Digimarc had a negative return on equity of 30.98% and a negative net margin of 90.69%. The firm’s revenue for the quarter was up 55.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.55) EPS. research analysts anticipate that Digimarc Corporation will post -2.32 EPS for the current year.
In related news, CEO Bruce L. Davis sold 5,000 shares of Digimarc stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $36.29, for a total transaction of $181,450.00. Following the completion of the sale, the chief executive officer now directly owns 104,006 shares of the company’s stock, valued at approximately $3,774,377.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Joel Meyer sold 7,000 shares of Digimarc stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $35.03, for a total value of $245,210.00. Following the sale, the executive vice president now directly owns 63,551 shares of the company’s stock, valued at $2,226,191.53. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,000 shares of company stock valued at $778,160. 7.50% of the stock is currently owned by insiders.
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Digimarc Company Profile
Digimarc Corporation (Digimarc) enables governments and enterprises to give digital identities to media and objects that computers can sense and recognize. The Company’s Digimarc Discover, Digimarc Barcode and Intuitive Computing Platform are designed to optimize the identification of consumer brand impressions, facilitating mobile-centric shopping.
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