Digi International Inc. (NASDAQ:DGII) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lowered its holdings in Digi International Inc. (NASDAQ:DGII) by 4.5% during the third quarter, Holdings Channel reports. The fund owned 20,204 shares of the technology company’s stock after selling 959 shares during the quarter. MetLife Investment Management LLC’s holdings in Digi International were worth $556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC grew its position in Digi International by 92.5% during the 2nd quarter. SG Americas Securities LLC now owns 8,140 shares of the technology company’s stock worth $187,000 after purchasing an additional 3,911 shares during the period. Cornercap Investment Counsel Inc. acquired a new position in shares of Digi International in the 2nd quarter valued at about $498,000. BNP Paribas Financial Markets boosted its stake in shares of Digi International by 51.8% in the third quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company’s stock worth $664,000 after buying an additional 8,235 shares during the last quarter. Rhumbline Advisers grew its holdings in Digi International by 6.7% during the second quarter. Rhumbline Advisers now owns 114,584 shares of the technology company’s stock worth $2,627,000 after acquiring an additional 7,208 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Digi International by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 312,765 shares of the technology company’s stock valued at $7,172,000 after acquiring an additional 6,534 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Digi International Trading Up 0.1 %

Shares of DGII stock opened at $32.49 on Friday. Digi International Inc. has a 1-year low of $20.17 and a 1-year high of $34.44. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 53.26, a PEG ratio of 1.17 and a beta of 1.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.73 and a quick ratio of 1.13. The stock has a 50 day simple moving average of $30.87 and a 200-day simple moving average of $27.34.

Digi International (NASDAQ:DGII) last posted its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. The company had revenue of $105.05 million during the quarter, compared to analysts’ expectations of $104.16 million. Digi International had a net margin of 5.31% and a return on equity of 11.24%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 earnings per share. On average, equities research analysts expect that Digi International Inc. will post 1.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Terrence G. Schneider sold 2,808 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $33.06, for a total value of $92,832.48. Following the completion of the transaction, the vice president now directly owns 39,002 shares of the company’s stock, valued at approximately $1,289,406.12. This represents a 6.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Satbir Khanuja sold 7,000 shares of Digi International stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $31.76, for a total transaction of $222,320.00. Following the sale, the director now directly owns 83,255 shares in the company, valued at approximately $2,644,178.80. This trade represents a 7.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,329 shares of company stock worth $332,361 in the last 90 days. Insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DGII. Piper Sandler raised their price objective on shares of Digi International from $26.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Craig Hallum restated a “hold” rating and set a $32.00 price target (up previously from $28.00) on shares of Digi International in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.75.

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.