Redmond Asset Management LLC Makes New $211,000 Investment in Digimarc Corp (NASDAQ:DMRC)

Redmond Asset Management LLC acquired a new position in shares of Digimarc Corp (NASDAQ:DMRC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,743 shares of the information technology services provider’s stock, valued at approximately $211,000.

A number of other institutional investors have also recently modified their holdings of DMRC. Advisor Group Inc. lifted its stake in shares of Digimarc by 11.8% during the 2nd quarter. Advisor Group Inc. now owns 26,566 shares of the information technology services provider’s stock worth $1,179,000 after buying an additional 2,811 shares during the last quarter. Aperio Group LLC acquired a new stake in shares of Digimarc during the 2nd quarter worth about $72,000. Janney Montgomery Scott LLC lifted its stake in shares of Digimarc by 3.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 46,360 shares of the information technology services provider’s stock worth $2,058,000 after buying an additional 1,753 shares during the last quarter. Ibex Investors LLC acquired a new stake in shares of Digimarc during the 2nd quarter worth about $231,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Digimarc during the 2nd quarter worth about $632,000. 59.53% of the stock is currently owned by hedge funds and other institutional investors.

DMRC has been the subject of several analyst reports. Needham & Company LLC cut shares of Digimarc from a “buy” rating to a “hold” rating in a research note on Thursday, May 30th. They noted that the move was a valuation call. ValuEngine cut shares of Digimarc from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Zacks Investment Research cut shares of Digimarc from a “hold” rating to a “sell” rating in a research note on Wednesday, June 12th. National Securities cut shares of Digimarc from a “buy” rating to a “neutral” rating in a research note on Monday, May 6th. Finally, BidaskClub cut shares of Digimarc from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $48.70.

Digimarc stock traded down $1.15 during midday trading on Thursday, hitting $40.15. The company’s stock had a trading volume of 4,178 shares, compared to its average volume of 119,537. Digimarc Corp has a 1-year low of $14.03 and a 1-year high of $66.50. The company has a 50-day simple moving average of $45.20. The company has a market capitalization of $513.36 million, a P/E ratio of -14.34 and a beta of 0.02.

Digimarc (NASDAQ:DMRC) last issued its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.07. Digimarc had a negative net margin of 149.00% and a negative return on equity of 56.59%. The business had revenue of $6.18 million during the quarter.

In other Digimarc news, EVP Tony Rodriguez sold 1,398 shares of Digimarc stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $63.02, for a total value of $88,101.96. Following the completion of the sale, the executive vice president now owns 53,890 shares in the company, valued at approximately $3,396,147.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew Walter sold 2,000 shares of Digimarc stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $51.24, for a total transaction of $102,480.00. Following the completion of the sale, the director now owns 12,110 shares of the company’s stock, valued at approximately $620,516.40. The disclosure for this sale can be found here. Insiders sold a total of 5,398 shares of company stock valued at $291,102 in the last quarter. Corporate insiders own 6.38% of the company’s stock.

Digimarc Company Profile

Digimarc Corporation provides media identification and management solutions to government and commercial customers in the United States and internationally. It offers Digimarc Intuitive Computing Platform, a comprehensive set of technologies for identifying, discovering, and interacting with digitally-enhanced media, which includes Digimarc Barcode, a method for imperceptibly enhancing packaging, print, images, thermal labels, audio, and other objects with data that is detected by enabled devices, such as smart phones, computers, barcode scanners, and machine-vision equipment.

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Institutional Ownership by Quarter for Digimarc (NASDAQ:DMRC)

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