Digimarc (NASDAQ:DMRC) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Digimarc (NASDAQ:DMRC) in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a $40.00 price objective on the information technology services provider’s stock.

Separately, StockNews.com raised Digimarc to a “sell” rating in a research note on Tuesday, September 17th.

Digimarc Stock Performance

NASDAQ:DMRC opened at $27.17 on Friday. Digimarc has a 52 week low of $21.00 and a 52 week high of $43.43. The firm’s fifty day moving average is $29.70 and its 200-day moving average is $28.87. The firm has a market cap of $581.98 million, a P/E ratio of -13.93 and a beta of 1.68.

Hedge Funds Weigh In On Digimarc

Several institutional investors have recently made changes to their positions in the stock. Kimelman & Baird LLC bought a new stake in Digimarc in the 2nd quarter valued at about $18,249,000. Vanguard Group Inc. raised its position in shares of Digimarc by 1.7% during 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 purchasing an additional 19,460 shares during the period. Silverberg Bernstein Capital Management LLC lifted its holdings in shares of Digimarc by 4.0% in the 3rd 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 in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Digimarc in the 2nd quarter valued at $439,000. Finally, Squarepoint Ops LLC bought a new stake in Digimarc during the 2nd quarter valued at $747,000. Institutional investors and hedge funds 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.