Digi International Inc. (NASDAQ:DGII) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in Digi International Inc. (NASDAQ:DGII - Free Report) by 2,467.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,136 shares of the technology company's stock after purchasing an additional 27,040 shares during the quarter. GAMMA Investing LLC owned 0.08% of Digi International worth $783,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in DGII. KLP Kapitalforvaltning AS purchased a new position in shares of Digi International in the 4th quarter valued at about $196,000. New Age Alpha Advisors LLC acquired a new stake in Digi International in the 4th quarter valued at about $1,400,000. Sterling Capital Management LLC grew its stake in Digi International by 868.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,143 shares of the technology company's stock valued at $35,000 after acquiring an additional 1,025 shares during the last quarter. MetLife Investment Management LLC grew its stake in Digi International by 7.2% in the 4th quarter. MetLife Investment Management LLC now owns 21,655 shares of the technology company's stock valued at $655,000 after acquiring an additional 1,451 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Digi International by 8.8% in the 4th quarter. Ameriprise Financial Inc. now owns 359,893 shares of the technology company's stock valued at $10,880,000 after acquiring an additional 29,026 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on DGII shares. Wall Street Zen raised shares of Digi International from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 20th. Piper Sandler increased their price objective on shares of Digi International from $26.00 to $30.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th.

Digi International Price Performance

NASDAQ DGII traded down $0.39 during trading hours on Friday, reaching $32.92. The company's stock had a trading volume of 207,617 shares, compared to its average volume of 207,561. The stock has a market cap of $1.22 billion, a PE ratio of 29.13, a PEG ratio of 1.14 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 $37.07. The company's 50-day moving average is $31.04 and its two-hundred day moving average is $30.65. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.12 and a current ratio of 1.57.

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 (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.02. Digi International had a net margin of 10.07% and a return on equity of 11.00%. The company had revenue of $104.50 million for the quarter, compared to analysts' expectations of $104.08 million. During the same period last year, the company earned $0.49 EPS. The firm's revenue for the quarter was down 3.0% compared to the same quarter last year. Analysts forecast that Digi International Inc. will post 1.68 EPS for the current year.

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.