Renaissance Technologies LLC Sells 46,900 Shares of Digimarc Co. (NASDAQ:DMRC)

Renaissance Technologies LLC decreased its holdings in shares of Digimarc Co. (NASDAQ:DMRC - Free Report) by 68.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,700 shares of the information technology services provider's stock after selling 46,900 shares during the quarter. Renaissance Technologies LLC owned approximately 0.10% of Digimarc worth $673,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. West Branch Capital LLC bought a new position in Digimarc during the second quarter valued at about $62,000. nVerses Capital LLC bought a new stake in Digimarc during the second quarter worth approximately $62,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Digimarc in the second quarter valued at approximately $148,000. McCollum Christoferson Group LLC acquired a new stake in shares of Digimarc in the second quarter worth $211,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Digimarc by 10.4% during the 1st quarter. BNP Paribas Financial Markets now owns 12,770 shares of the information technology services provider's stock worth $347,000 after buying an additional 1,207 shares during the period. Institutional investors own 66.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. StockNews.com raised shares of Digimarc to a "sell" rating in a research report on Tuesday, September 17th. Needham & Company LLC restated a "buy" rating and set a $40.00 target price on shares of Digimarc in a research note on Wednesday, August 14th.

Digimarc Stock Performance

Shares of NASDAQ:DMRC traded down $0.42 on Wednesday, hitting $28.31. 66,800 shares of the company were exchanged, compared to its average volume of 123,781. The company's 50 day moving average price is $27.97 and its two-hundred day moving average price is $27.48. Digimarc Co. has a one year low of $21.00 and a one year high of $43.43. The firm has a market capitalization of $605.07 million, a price-to-earnings ratio of -13.81 and a beta of 1.70.

Digimarc (NASDAQ:DMRC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 13th. The information technology services provider reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.04. The company had revenue of $10.38 million for the quarter. Digimarc had a negative return on equity of 41.60% and a negative net margin of 105.98%.

Digimarc 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.