Digimarc (NASDAQ:DMRC) Hits New 12-Month High – Still a Buy?

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

Analyst Ratings Changes

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

Digimarc Stock Up 16.4 %

The firm has a market capitalization of $1.00 billion, a P/E ratio of -24.01 and a beta of 1.67. The business’s 50 day moving average is $34.56 and its 200-day moving average is $31.17.

Hedge Funds Weigh In On Digimarc

Several hedge funds and other institutional investors have recently modified their holdings of the business. Kimelman & Baird LLC bought a new stake in shares of Digimarc during the second quarter worth $18,249,000. Woodson Capital Management LP increased its holdings in Digimarc by 18.5% in the 3rd quarter. Woodson Capital Management LP now owns 455,664 shares of the information technology services provider’s stock worth $12,248,000 after purchasing an additional 71,126 shares in the last quarter. Beaconlight Capital LLC raised its position in Digimarc by 3.4% in the third quarter. Beaconlight Capital LLC now owns 801,084 shares of the information technology services provider’s stock valued at $21,533,000 after purchasing an additional 26,425 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Digimarc during the second quarter valued at about $747,000. Finally, Silverberg Bernstein Capital Management LLC grew its holdings in shares of Digimarc by 4.0% during the third quarter. Silverberg Bernstein Capital Management LLC now owns 459,933 shares of the information technology services provider’s stock worth $12,363,000 after purchasing an additional 17,880 shares during the last quarter. Institutional investors own 66.85% of the company’s stock.

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.