Janney Montgomery Scott LLC Sells 6,790 Shares of Digimarc Co. (NASDAQ:DMRC)

Janney Montgomery Scott LLC cut its stake in shares of Digimarc Co. (NASDAQ:DMRC) by 12.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 48,439 shares of the information technology services provider’s stock after selling 6,790 shares during the period. Janney Montgomery Scott LLC’s holdings in Digimarc were worth $1,302,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kimelman & Baird LLC purchased a new stake in Digimarc during the second quarter valued at $18,249,000. Beaconlight Capital LLC increased its position in shares of Digimarc by 34.7% during the 1st quarter. Beaconlight Capital LLC now owns 778,017 shares of the information technology services provider’s stock valued at $21,147,000 after purchasing an additional 200,251 shares during the last quarter. Woodson Capital Management LP purchased a new stake in shares of Digimarc during the 1st quarter valued at about $2,718,000. Squarepoint Ops LLC bought a new position in shares of Digimarc in the 2nd quarter worth approximately $747,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Digimarc by 1.7% in the first quarter. Vanguard Group Inc. now owns 1,169,976 shares of the information technology services provider’s stock worth $31,800,000 after buying an additional 19,460 shares during the last quarter. 66.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on DMRC. StockNews.com raised shares of Digimarc to a “sell” rating in a report on Tuesday, September 17th. Needham & Company LLC restated a “buy” rating and issued a $40.00 price objective on shares of Digimarc in a research note on Wednesday, August 14th.

Digimarc Price Performance

Shares of NASDAQ:DMRC opened at $30.12 on Friday. Digimarc Co. has a 1-year low of $21.00 and a 1-year high of $43.43. The firm’s 50 day simple moving average is $29.67 and its two-hundred day simple moving average is $28.73. The company has a market capitalization of $645.17 million, a P/E ratio of -15.21 and a beta of 1.68.

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

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.