Granite Investment Partners LLC Sells 18,604 Shares of Digimarc Corporation (DMRC)
Granite Investment Partners LLC decreased its position in shares of Digimarc Corporation (NASDAQ:DMRC) by 29.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,135 shares of the information technology services provider’s stock after selling 18,604 shares during the period. Granite Investment Partners LLC’s holdings in Digimarc Corporation were worth $1,772,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in DMRC. Essex Investment Management Co. LLC purchased a new stake in shares of Digimarc Corporation during the second quarter worth approximately $2,757,000. Janney Montgomery Scott LLC raised its stake in shares of Digimarc Corporation by 25.0% in the second quarter. Janney Montgomery Scott LLC now owns 76,933 shares of the information technology services provider’s stock worth $3,089,000 after buying an additional 15,408 shares during the last quarter. Cornerstone Financial Partners LLC purchased a new stake in shares of Digimarc Corporation during the second quarter worth approximately $405,000. Berson & Corrado Investment Advisors LLC purchased a new stake in shares of Digimarc Corporation during the second quarter worth approximately $385,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Digimarc Corporation during the first quarter worth approximately $976,000. 54.94% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Digimarc Corporation (NASDAQ:DMRC) opened at 28.65 on Friday. The firm’s market capitalization is $308.56 million. Digimarc Corporation has a 52 week low of $24.20 and a 52 week high of $41.75. The stock’s 50 day moving average price is $33.13 and its 200-day moving average price is $29.88.
Digimarc Corporation (NASDAQ:DMRC) last announced its quarterly earnings data on Wednesday, July 26th. The information technology services provider reported ($0.68) EPS for the quarter, meeting the consensus estimate of ($0.68). The firm had revenue of $5.59 million for the quarter, compared to analyst estimates of $5.69 million. Digimarc Corporation had a negative return on equity of 32.18% and a negative net margin of 107.49%. The company’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.62) EPS. Equities analysts predict that Digimarc Corporation will post ($2.69) earnings per share for the current year.
A number of brokerages have recently commented on DMRC. B. Riley reissued a “buy” rating and set a $44.00 price target on shares of Digimarc Corporation in a research note on Saturday, July 29th. Cowen and Company set a $50.00 price target on Digimarc Corporation and gave the company a “buy” rating in a research note on Thursday, July 27th. BidaskClub lowered Digimarc Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research lowered Digimarc Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $42.00 price target on shares of Digimarc Corporation in a research note on Monday, July 10th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $45.75.
In other news, CEO Bruce L. Davis sold 4,300 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $38.67, for a total transaction of $166,281.00. Following the transaction, the chief executive officer now directly owns 57,144 shares in the company, valued at approximately $2,209,758.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joel Meyer sold 7,000 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $31.77, for a total value of $222,390.00. Following the transaction, the executive vice president now owns 70,121 shares in the company, valued at $2,227,744.17. The disclosure for this sale can be found here. Insiders have sold a total of 17,000 shares of company stock worth $601,820 over the last quarter. Corporate insiders own 7.50% of the company’s stock.
About Digimarc Corporation
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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