Gabelli Funds LLC decreased its stake in shares of Digi International Inc. (NASDAQ:DGII) by 6.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 226,000 shares of the technology company’s stock after selling 15,642 shares during the quarter. Gabelli Funds LLC owned about 0.85% of Digi International worth $2,396,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its position in Digi International by 12.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 599,573 shares of the technology company’s stock valued at $6,086,000 after purchasing an additional 65,430 shares during the period. State Street Corp grew its holdings in shares of Digi International by 5.1% during the second quarter. State Street Corp now owns 729,474 shares of the technology company’s stock worth $7,399,000 after buying an additional 35,133 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Digi International by 72.2% during the 2nd quarter. Gamco Investors INC. ET AL now owns 76,440 shares of the technology company’s stock valued at $776,000 after acquiring an additional 32,050 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in Digi International by 37.1% in the second quarter. Wedge Capital Management L L P NC now owns 102,366 shares of the technology company’s stock valued at $1,039,000 after buying an additional 27,700 shares during the last quarter. Finally, OppenheimerFunds Inc. acquired a new position in Digi International in the first quarter valued at about $148,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.
Shares of Digi International Inc. (DGII) opened at $9.75 on Tuesday. Digi International Inc. has a 52 week low of $8.50 and a 52 week high of $14.15. The company has a market capitalization of $265.40, a price-to-earnings ratio of 27.03 and a beta of 1.45.
Digi International (NASDAQ:DGII) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.08. The firm had revenue of $45.10 million for the quarter, compared to the consensus estimate of $45.66 million. Digi International had a return on equity of 3.24% and a net margin of 5.16%. The company’s revenue for the quarter was down 10.7% on a year-over-year basis. During the same quarter last year, the business posted $0.14 EPS. equities research analysts anticipate that Digi International Inc. will post 0.25 EPS for the current year.
Several equities analysts have commented on DGII shares. Canaccord Genuity reiterated a “buy” rating and issued a $15.00 price target on shares of Digi International in a research note on Friday, July 28th. Sidoti cut Digi International from a “buy” rating to a “neutral” rating and set a $12.00 price target for the company. in a research report on Monday, October 16th. BidaskClub cut Digi International from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. TheStreet raised Digi International from a “c+” rating to a “b” rating in a research report on Friday, October 27th. Finally, Zacks Investment Research upgraded Digi International from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $14.00.
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Digi International Profile
Digi International Inc is a provider of mission and business-critical machine-to-machine (M2M) and Internet-of-Things (IoT) connectivity products and services. The Company creates connected products and deploys and manages critical communications infrastructures in a range of environments. It offers four categories of hardware products: cellular routers and gateways, radio frequency (RF), embedded and network products.
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