Pacer Advisors Inc. Increases Position in Digi International Inc. (NASDAQ:DGII)

Key Points

• Pacer Advisors Inc. dramatically increased its holdings in Digi International Inc. by 2,297% during the first quarter, acquiring a total of 238,019 shares valued at approximately $6.62 million.
• Analysts have recently upgraded Digi International, with Piper Sandler raising the price target from $26 to $30 and Wall Street Zen changing their rating from "buy" to "strong-buy."
• Digi International reported an earnings per share (EPS) of $0.51 for the last quarter, exceeding analysts' expectations of $0.49, even though revenue decreased by 3% year-over-year.

Pacer Advisors Inc. boosted its stake in Digi International Inc. (NASDAQ:DGII - Free Report) by 2,297.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 238,019 shares of the technology company's stock after purchasing an additional 228,089 shares during the period. Pacer Advisors Inc. owned approximately 0.65% of Digi International worth $6,624,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC increased its position in Digi International by 2,467.2% in the 1st quarter. GAMMA Investing LLC now owns 28,136 shares of the technology company's stock valued at $783,000 after acquiring an additional 27,040 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Digi International in the 4th quarter valued at $45,000. Captrust Financial Advisors boosted its stake in shares of Digi International by 6.3% during the 4th quarter. Captrust Financial Advisors now owns 21,629 shares of the technology company's stock worth $654,000 after acquiring an additional 1,291 shares in the last quarter. Bearing Point Capital LLC bought a new stake in shares of Digi International during the 4th quarter worth $212,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Digi International by 16.3% in the fourth quarter. BNP Paribas Financial Markets now owns 28,054 shares of the technology company's stock worth $848,000 after purchasing an additional 3,925 shares during the period. Institutional investors and hedge funds own 95.90% of the company's stock.

Digi International Stock Performance

NASDAQ:DGII traded down $0.44 during mid-day trading on Thursday, hitting $32.79. 62,788 shares of the stock were exchanged, compared to its average volume of 192,838. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.12 and a current ratio of 1.57. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 29.09, a price-to-earnings-growth ratio of 1.17 and a beta of 0.89. Digi International Inc. has a fifty-two week low of $20.17 and a fifty-two week high of $37.06. The firm's 50-day simple moving average is $33.79 and its 200 day simple moving average is $31.24.

Digi International (NASDAQ:DGII - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.49 by $0.02. Digi International had a net margin of 10.07% and a return on equity of 11.00%. The business had revenue of $104.50 million during the quarter, compared to analysts' expectations of $104.08 million. During the same period in the prior year, the company earned $0.49 EPS. The firm's quarterly revenue was down 3.0% compared to the same quarter last year. As a group, equities analysts anticipate that Digi International Inc. will post 1.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DGII has been the topic of a number of analyst reports. Wall Street Zen upgraded Digi International from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 20th. Piper Sandler upped their price objective on Digi International from $26.00 to $30.00 and gave the company a "neutral" rating in a report on Thursday, May 8th.

Digi International Company Profile

Digi International Inc provides business and mission-critical Internet of Things (IoT) products, services, and solutions in the United States, Europe, the Middle East, Africa, and internationally. The company operates in two segments, IoT Products & Services, and IoT Solutions. It offers cellular routers for mission-critical wireless connectivity; cellular modules to embed cellular communications abilities into the products to deploy and manage intelligent and secure cellular connected products; console servers to provide secure and remote access to network equipment in data centers and at edge locations; and radio frequency products, including embedded wireless modules, off-the-shelf gateways, modems, and adapters under the Digi XBee brand.