MetLife Investment Advisors LLC Purchases New Shares in Digimarc Corp (NASDAQ:DMRC)

MetLife Investment Advisors LLC purchased a new stake in shares of Digimarc Corp (NASDAQ:DMRC) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,123 shares of the information technology services provider’s stock, valued at approximately $161,000.

Several other large investors have also made changes to their positions in DMRC. Handelsbanken Fonder AB raised its stake in shares of Digimarc by 40.0% in the 1st quarter. Handelsbanken Fonder AB now owns 70,000 shares of the information technology services provider’s stock valued at $2,197,000 after buying an additional 20,000 shares in the last quarter. Wasatch Advisors Inc. raised its stake in shares of Digimarc by 49.9% in the 1st quarter. Wasatch Advisors Inc. now owns 140,094 shares of the information technology services provider’s stock valued at $4,396,000 after buying an additional 46,632 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in shares of Digimarc during the 1st quarter worth about $238,000. Baillie Gifford & Co. increased its position in Digimarc by 8.3% in the 1st quarter. Baillie Gifford & Co. now owns 517,714 shares of the information technology services provider’s stock valued at $16,245,000 after acquiring an additional 39,894 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Digimarc by 58,800.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,356 shares of the information technology services provider’s stock valued at $74,000 after purchasing an additional 2,352 shares during the last quarter. 62.07% of the stock is currently owned by hedge funds and other institutional investors.

Shares of DMRC traded down $0.01 during mid-day trading on Thursday, hitting $44.17. 70,062 shares of the company’s stock traded hands, compared to its average volume of 143,640. The stock has a market cap of $535.69 million, a price-to-earnings ratio of -15.44 and a beta of 0.10. Digimarc Corp has a 1 year low of $14.03 and a 1 year high of $66.50. The business has a 50-day simple moving average of $48.24.

Digimarc (NASDAQ:DMRC) last released its quarterly earnings data on Wednesday, May 1st. The information technology services provider reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.02). The business had revenue of $5.66 million during the quarter, compared to the consensus estimate of $5.48 million. Digimarc had a negative return on equity of 55.04% and a negative net margin of 154.70%.

A number of brokerages recently weighed in on DMRC. Zacks Investment Research upgraded shares of Eutelsat Communications from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a report on Wednesday, June 12th. B. Riley set a $14.00 price objective on Tilly’s and gave the company a “buy” rating in a research note on Thursday, May 30th. BidaskClub upgraded Zillow Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 2nd. Needham & Company LLC restated a “buy” rating and set a $54.00 price target on shares of Capri in a report on Thursday, May 30th. Finally, Craig Hallum increased their price target on Digimarc from $42.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $48.70.

In related news, CEO Bruce L. Davis sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $47.90, for a total value of $718,500.00. Following the transaction, the chief executive officer now directly owns 41,799 shares in the company, valued at $2,002,172.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Chamness sold 12,916 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $49.27, for a total value of $636,371.32. Following the sale, the insider now directly owns 94,862 shares in the company, valued at approximately $4,673,850.74. The disclosure for this sale can be found here. Insiders have sold a total of 41,113 shares of company stock worth $2,100,787 over the last 90 days. 6.38% of the stock is currently owned by company insiders.

About Digimarc

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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