Insider Buying: Digital Brands Group (NASDAQ:DBGI) CEO Acquires 618,333 Shares of Stock

Digital Brands Group, Inc. (NASDAQ:DBGI) CEO John Hilburn Iv Davis purchased 618,333 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were acquired at an average price of $1.13 per share, for a total transaction of $698,716.29. Following the purchase, the chief executive officer directly owned 688,461 shares in the company, valued at approximately $777,960.93. The trade was a 881.72% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

John Hilburn Iv Davis also recently made the following trade(s):

• On Tuesday, June 2nd, John Hilburn Iv Davis acquired 70,127 shares of Digital Brands Group stock. The shares were bought at an average cost of $0.70 per share, for a total transaction of $49,088.90.

Digital Brands Group Price Performance

Shares of DBGI stock traded down $0.05 during trading hours on Friday, reaching $0.92. 3,010,227 shares of the company traded hands, compared to its average volume of 3,079,761. Digital Brands Group, Inc. has a 12-month low of $0.26 and a 12-month high of $18.00. The firm has a 50-day moving average price of $1.27 and a 200 day moving average price of $5.30. The company has a market cap of $19.77 million, a P/E ratio of -0.34 and a beta of 0.17.

Hedge Funds Weigh In On Digital Brands Group

Several institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP purchased a new stake in Digital Brands Group in the first quarter valued at approximately $29,000. Cantor Fitzgerald L. P. purchased a new position in Digital Brands Group during the third quarter valued at $221,000. Fifth Third Bancorp purchased a new position in Digital Brands Group during the first quarter valued at $432,000. Connective Capital Management LLC purchased a new position in shares of Digital Brands Group in the fourth quarter valued at approximately $876,000. Finally, Geode Capital Management LLC purchased a new position in shares of Digital Brands Group in the fourth quarter worth about $890,000. 1.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DBGI has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Digital Brands Group in a research note on Monday, April 20th. Wall Street Zen cut Digital Brands Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Digital Brands Group has a consensus rating of “Sell”.

About Digital Brands Group

Digital Brands Group Inc (NASDAQ: DBGI) operates as a digital consumption platform focused on acquiring, operating and scaling digitally native consumer brands. The company seeks to partner with emerging and established brands across categories such as fashion, home & lifestyle, health & wellness, and consumer electronics. By leveraging a centralized operating model, Digital Brands Group aims to drive revenue growth, expand market reach and enhance customer engagement for its portfolio companies.

At the core of Digital Brands Group’s strategy is its expertise in e-commerce, digital marketing and data analytics.