GAMMA Investing LLC Boosts Stock Holdings in Digi International Inc. (NASDAQ:DGII)

GAMMA Investing LLC raised its stake in Digi International Inc. (NASDAQ:DGII) by 687.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 961 shares of the technology company’s stock after purchasing an additional 839 shares during the quarter. GAMMA Investing LLC’s holdings in Digi International were worth $31,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in DGII. NBC Securities Inc. acquired a new position in Digi International in the first quarter valued at $78,000. Cornercap Investment Counsel Inc. purchased a new stake in shares of Digi International during the 4th quarter worth about $525,000. SG Americas Securities LLC increased its position in Digi International by 55.0% during the 4th quarter. SG Americas Securities LLC now owns 23,167 shares of the technology company’s stock worth $602,000 after purchasing an additional 8,216 shares in the last quarter. Rhumbline Advisers raised its holdings in Digi International by 0.5% in the third quarter. Rhumbline Advisers now owns 102,783 shares of the technology company’s stock valued at $2,775,000 after buying an additional 502 shares during the period. Finally, Summit Creek Advisors LLC raised its holdings in Digi International by 16.5% in the fourth quarter. Summit Creek Advisors LLC now owns 297,435 shares of the technology company’s stock valued at $7,733,000 after buying an additional 42,179 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DGII has been the subject of several recent research reports. Roth Mkm dropped their price objective on shares of Digi International from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Piper Sandler downgraded Digi International from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $35.00 to $29.00 in a report on Wednesday, May 22nd. Finally, StockNews.com upgraded Digi International from a “hold” rating to a “buy” rating in a research note on Saturday, June 15th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.50.

Digi International Price Performance

Shares of DGII stock opened at $22.27 on Thursday. The firm has a fifty day simple moving average of $25.71 and a 200-day simple moving average of $27.19. The company has a market capitalization of $810.18 million, a PE ratio of 58.61, a price-to-earnings-growth ratio of 0.77 and a beta of 1.12. Digi International Inc. has a twelve month low of $21.25 and a twelve month high of $42.95. The company has a current ratio of 2.05, a quick ratio of 1.28 and a debt-to-equity ratio of 0.31.

Digi International (NASDAQ:DGII) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. Digi International had a net margin of 3.20% and a return on equity of 11.61%. The company had revenue of $107.70 million during the quarter, compared to analysts’ expectations of $106.97 million. Equities research analysts anticipate that Digi International Inc. will post 1.7 earnings per share for the current fiscal year.

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.