Digimarc (NASDAQ:DMRC) Sets New 1-Year High – Here’s What Happened

Digimarc Co. (NASDAQ:DMRC) hit a new 52-week high during trading on Saturday . The stock traded as high as $48.09 and last traded at $46.81, with a volume of 508596 shares trading hands. The stock had previously closed at $40.20.

Analyst Upgrades and Downgrades

DMRC has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of Digimarc in a research note on Friday, November 15th. StockNews.com upgraded shares of Digimarc to a “sell” rating in a report on Tuesday, September 17th.

Digimarc Trading Up 16.4 %

The company has a 50 day moving average price of $34.56 and a 200 day moving average price of $31.17. The company has a market capitalization of $1.00 billion, a P/E ratio of -24.01 and a beta of 1.67.

Institutional Investors Weigh In On Digimarc

Several hedge funds have recently bought and sold shares of DMRC. Bank of New York Mellon Corp increased its stake in shares of Digimarc by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 239,946 shares of the information technology services provider’s stock worth $7,441,000 after purchasing an additional 7,356 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Digimarc in the second quarter valued at about $148,000. Rhumbline Advisers grew its stake in shares of Digimarc by 3.3% in the second quarter. Rhumbline Advisers now owns 21,683 shares of the information technology services provider’s stock valued at $672,000 after acquiring an additional 693 shares in the last quarter. Private Advisor Group LLC increased its position in Digimarc by 4.4% during the second quarter. Private Advisor Group LLC now owns 351,908 shares of the information technology services provider’s stock worth $10,913,000 after acquiring an additional 14,884 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in Digimarc in the 2nd quarter worth about $439,000. 66.85% of the stock is currently owned by institutional investors and hedge funds.

About Digimarc

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.