Beach Point Capital Management LP Sells 317,399 Shares of Diebold Nixdorf, Incorporated $DBD

Key Points

• Beach Point Capital Management LP reduced its stake in Diebold Nixdorf by 16.8%, selling 317,399 shares and now owns approximately 4.22% of the company.
• Diebold Nixdorf recently announced a $100 million share repurchase program aimed at buying back up to 4.8% of its shares, indicating management's belief that the stock is undervalued.
• The company's stock has a current market cap of $2.10 billion and trades with a PE ratio of -168.78, having reported a negative net margin of 0.35% in its latest earnings report.

Beach Point Capital Management LP cut its stake in Diebold Nixdorf, Incorporated (NYSE:DBD - Free Report) by 16.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,570,530 shares of the technology company's stock after selling 317,399 shares during the period. Diebold Nixdorf accounts for about 37.8% of Beach Point Capital Management LP's portfolio, making the stock its 2nd largest position. Beach Point Capital Management LP owned about 4.22% of Diebold Nixdorf worth $87,007,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Jones Financial Companies Lllp lifted its stake in shares of Diebold Nixdorf by 325.9% during the first quarter. Jones Financial Companies Lllp now owns 1,150 shares of the technology company's stock worth $50,000 after buying an additional 880 shares during the period. State of Wyoming purchased a new position in Diebold Nixdorf in the 1st quarter worth $54,000. CWM LLC raised its stake in Diebold Nixdorf by 193.3% in the 2nd quarter. CWM LLC now owns 1,320 shares of the technology company's stock worth $73,000 after acquiring an additional 870 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new stake in Diebold Nixdorf during the 2nd quarter valued at about $258,000. Finally, EP Wealth Advisors LLC purchased a new stake in Diebold Nixdorf during the 1st quarter valued at about $264,000. Hedge funds and other institutional investors own 97.04% of the company's stock.

Insider Transactions at Diebold Nixdorf

In related news, major shareholder Millstreet Capital Management sold 38,963 shares of the business's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $60.08, for a total value of $2,340,897.04. Following the completion of the sale, the insider owned 5,968,398 shares of the company's stock, valued at approximately $358,581,351.84. The trade was a 0.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company's stock.

Diebold Nixdorf Price Performance

Shares of Diebold Nixdorf stock opened at $57.39 on Tuesday. The firm has a market cap of $2.10 billion, a PE ratio of -168.78 and a beta of 1.59. Diebold Nixdorf, Incorporated has a twelve month low of $34.88 and a twelve month high of $63.46. The company has a quick ratio of 0.91, a current ratio of 1.36 and a debt-to-equity ratio of 0.84. The business has a 50-day moving average price of $59.26 and a 200 day moving average price of $53.66.

Diebold Nixdorf (NYSE:DBD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.61 by ($0.01). The business had revenue of $915.20 million for the quarter, compared to analysts' expectations of $879.57 million. Diebold Nixdorf had a positive return on equity of 7.92% and a negative net margin of 0.35%. Sell-side analysts predict that Diebold Nixdorf, Incorporated will post 4.59 earnings per share for the current fiscal year.

Diebold Nixdorf announced that its board has approved a share repurchase program on Wednesday, August 6th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 4.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages recently weighed in on DBD. Wall Street Zen upgraded shares of Diebold Nixdorf from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 11th. DA Davidson reiterated a "buy" rating and issued a $80.00 price objective on shares of Diebold Nixdorf in a research note on Tuesday, August 19th. Weiss Ratings restated a "sell (d+)" rating on shares of Diebold Nixdorf in a research report on Wednesday, October 8th. Finally, Wedbush increased their price target on Diebold Nixdorf from $60.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Diebold Nixdorf has an average rating of "Moderate Buy" and a consensus target price of $75.00.

Diebold Nixdorf Profile

Diebold Nixdorf, Incorporated engages in the automating, digitizing, and transforming the way people bank and shop worldwide. It operates through two segments, Banking and Retail. The company offers cash recyclers and dispensers, intelligent deposit terminals, teller automation tools, and kiosk technologies, as well as physical security solutions; and front-end applications for consumer connection points and back-end platforms that manage channel transactions, operations and integration, and facilitate omnichannel transactions, endpoint monitoring, remote asset management, customer marketing, merchandise management, and analytics.

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