Bank of New York Mellon Corp Has $7.44 Million Position in Digimarc Co. (NASDAQ:DMRC)

Bank of New York Mellon Corp boosted its stake in shares of Digimarc Co. (NASDAQ:DMRC) by 3.2% during the second quarter, Holdings Channel.com reports. The fund owned 239,946 shares of the information technology services provider’s stock after acquiring an additional 7,356 shares during the period. Bank of New York Mellon Corp’s holdings in Digimarc were worth $7,441,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DMRC. BNP Paribas Financial Markets increased its position in shares of Digimarc by 10.4% in the first quarter. BNP Paribas Financial Markets now owns 12,770 shares of the information technology services provider’s stock worth $347,000 after purchasing an additional 1,207 shares during the period. Inspire Investing LLC bought a new position in Digimarc in the 1st quarter valued at about $361,000. Price T Rowe Associates Inc. MD raised its position in shares of Digimarc by 3.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,185 shares of the information technology services provider’s stock valued at $413,000 after buying an additional 495 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Digimarc by 9.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 63,728 shares of the information technology services provider’s stock worth $1,732,000 after acquiring an additional 5,483 shares during the period. Finally, Woodson Capital Management LP acquired a new stake in shares of Digimarc during the 1st quarter worth approximately $2,718,000. 66.85% of the stock is owned by institutional investors and hedge funds.

Digimarc Stock Down 0.6 %

NASDAQ:DMRC opened at $28.39 on Thursday. Digimarc Co. has a twelve month low of $21.00 and a twelve month high of $43.43. The stock’s 50-day simple moving average is $29.82 and its 200 day simple moving average is $28.03. The firm has a market capitalization of $606.78 million, a PE ratio of -13.65 and a beta of 1.70.

Digimarc (NASDAQ:DMRC) last posted its quarterly earnings results on Tuesday, August 13th. The information technology services provider reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.04. The company had revenue of $10.38 million for the quarter. Digimarc had a negative net margin of 105.98% and a negative return on equity of 41.60%.

Analysts Set New Price Targets

Separately, Needham & Company LLC restated a “buy” rating and set a $40.00 price objective on shares of Digimarc in a research report on Wednesday, August 14th.

Digimarc Company Profile

Digimarc Corporation, together with its subsidiaries, provides automatic identification solutions to commercial and government customers in the United States and internationally. The company offers Digimarc Validate protects, a cloud-based record of product authentication information; Digimarc Engage, an interactive communications channel connecting brands and consumers; and Digimarc Recycle.