GAMMA Investing LLC Purchases 27,040 Shares of Digi International Inc. (NASDAQ:DGII)

GAMMA Investing LLC boosted its stake in Digi International Inc. (NASDAQ:DGII - Free Report) by 2,467.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,136 shares of the technology company's stock after purchasing an additional 27,040 shares during the period. GAMMA Investing LLC owned about 0.08% of Digi International worth $783,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Lazard Asset Management LLC purchased a new position in Digi International in the 4th quarter worth approximately $45,000. Captrust Financial Advisors increased its stake in shares of Digi International by 6.3% during the fourth quarter. Captrust Financial Advisors now owns 21,629 shares of the technology company's stock valued at $654,000 after buying an additional 1,291 shares during the period. Bearing Point Capital LLC purchased a new position in shares of Digi International during the fourth quarter valued at approximately $212,000. BNP Paribas Financial Markets increased its stake in shares of Digi International by 16.3% during the fourth quarter. BNP Paribas Financial Markets now owns 28,054 shares of the technology company's stock valued at $848,000 after buying an additional 3,925 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of Digi International by 8.8% during the fourth quarter. Ameriprise Financial Inc. now owns 359,893 shares of the technology company's stock valued at $10,880,000 after buying an additional 29,026 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.

Digi International Trading Down 0.4%

NASDAQ DGII opened at $33.18 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.57 and a debt-to-equity ratio of 0.12. Digi International Inc. has a twelve month low of $20.17 and a twelve month high of $37.07. The firm has a market capitalization of $1.23 billion, a PE ratio of 29.36, a P/E/G ratio of 1.15 and a beta of 0.89. The stock's 50 day moving average is $30.60 and its 200 day moving average is $30.65.

Digi International (NASDAQ:DGII - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.02. Digi International had a return on equity of 11.00% and a net margin of 10.07%. The company had revenue of $104.50 million for the quarter, compared to analyst estimates of $104.08 million. During the same period in the previous year, the company posted $0.49 earnings per share. The firm's revenue was down 3.0% on a year-over-year basis. Research analysts forecast that Digi International Inc. will post 1.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on DGII shares. Piper Sandler boosted their target price on Digi International from $26.00 to $30.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Wall Street Zen upgraded Digi International from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 20th.

About Digi International

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.

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