Riverbridge Partners LLC decreased its position in shares of Digi International Inc. (NASDAQ:DGII) by 5.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,510,048 shares of the technology company’s stock after selling 81,332 shares during the period. Riverbridge Partners LLC owned 5.69% of Digi International worth $15,327,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Digi International during the first quarter worth $106,000. OppenheimerFunds Inc. purchased a new position in Digi International during the first quarter valued at approximately $148,000. Arizona State Retirement System boosted its position in Digi International by 3.0% in the first quarter. Arizona State Retirement System now owns 13,741 shares of the technology company’s stock valued at $164,000 after buying an additional 400 shares during the period. Thrivent Financial For Lutherans boosted its position in Digi International by 6.3% in the first quarter. Thrivent Financial For Lutherans now owns 14,920 shares of the technology company’s stock valued at $178,000 after buying an additional 880 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in Digi International by 6.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,040 shares of the technology company’s stock valued at $193,000 after buying an additional 860 shares during the period. Hedge funds and other institutional investors own 76.86% of the company’s stock.
Shares of Digi International Inc. (DGII) traded up 1.06% on Friday, hitting $9.55. 56,943 shares of the stock traded hands. The company’s 50 day moving average is $9.96 and its 200 day moving average is $11.33. Digi International Inc. has a one year low of $9.00 and a one year high of $14.15. The stock has a market cap of $253.45 million, a price-to-earnings ratio of 29.03 and a beta of 1.45.
Digi International (NASDAQ:DGII) last released its quarterly earnings data on Thursday, July 27th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Digi International had a return on equity of 3.17% and a net margin of 4.74%. The business had revenue of $45.70 million for the quarter, compared to analysts’ expectations of $45.67 million. During the same period in the previous year, the business posted $0.16 earnings per share. Digi International’s quarterly revenue was down 12.3% on a year-over-year basis. On average, equities analysts forecast that Digi International Inc. will post $0.27 EPS for the current year.
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Several analysts have recently weighed in on DGII shares. Zacks Investment Research upgraded shares of Digi International from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Tuesday, August 1st. Canaccord Genuity reaffirmed a “buy” rating and set a $15.00 price target on shares of Digi International in a research note on Friday, July 28th. Sidoti raised shares of Digi International from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 23rd. Benchmark Co. assumed coverage on shares of Digi International in a research note on Tuesday, April 25th. They issued a “buy” rating and a $16.00 price objective on the stock. Finally, TheStreet cut shares of Digi International from a “b-” rating to a “c+” rating in a research note on Tuesday, May 30th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Digi International currently has an average rating of “Buy” and a consensus price target of $14.50.
Digi International Company 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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