Digi International Inc. (NASDAQ:DGII) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its holdings in Digi International Inc. (NASDAQ:DGII) by 5.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 11,009 shares of the technology company’s stock after selling 642 shares during the period. Amalgamated Bank’s holdings in Digi International were worth $252,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of DGII. Geneva Capital Management LLC grew its holdings in shares of Digi International by 20.9% during the first quarter. Geneva Capital Management LLC now owns 1,687,660 shares of the technology company’s stock valued at $53,887,000 after purchasing an additional 291,618 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in Digi International by 216.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 91,197 shares of the technology company’s stock worth $2,091,000 after buying an additional 62,402 shares during the last quarter. Russell Investments Group Ltd. increased its position in Digi International by 1,814.0% in the first quarter. Russell Investments Group Ltd. now owns 57,764 shares of the technology company’s stock worth $1,844,000 after buying an additional 54,746 shares during the period. Summit Creek Advisors LLC lifted its stake in Digi International by 13.9% in the first quarter. Summit Creek Advisors LLC now owns 338,827 shares of the technology company’s stock valued at $10,819,000 after buying an additional 41,392 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new position in shares of Digi International during the second quarter worth about $498,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Digi International Price Performance

NASDAQ DGII opened at $27.53 on Tuesday. Digi International Inc. has a 12 month low of $20.17 and a 12 month high of $32.90. The firm has a market capitalization of $1.00 billion, a PE ratio of 71.24, a P/E/G ratio of 0.95 and a beta of 1.07. The company’s 50 day simple moving average is $27.16 and its 200 day simple moving average is $26.85. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.00 and a quick ratio of 1.31.

Digi International (NASDAQ:DGII) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.01. The company had revenue of $105.20 million for the quarter, compared to analysts’ expectations of $105.60 million. Digi International had a return on equity of 11.32% and a net margin of 3.94%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the firm earned $0.44 EPS. As a group, equities research analysts forecast that Digi International Inc. will post 1.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DGII has been the topic of several recent research reports. Piper Sandler cut their price objective on shares of Digi International from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Craig Hallum lowered their target price on Digi International from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, StockNews.com upgraded Digi International from a “hold” rating to a “buy” rating in a research report on Saturday, June 15th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $34.20.

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.