Cornercap Investment Counsel Inc. Purchases New Stake in Digi International Inc. (NASDAQ:DGII)

Cornercap Investment Counsel Inc. purchased a new stake in Digi International Inc. (NASDAQ:DGII) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,187 shares of the technology company’s stock, valued at approximately $525,000.

Other institutional investors have also recently modified their holdings of the company. US Bancorp DE boosted its position in Digi International by 13.3% during the first quarter. US Bancorp DE now owns 12,666 shares of the technology company’s stock worth $272,000 after purchasing an additional 1,491 shares in the last quarter. MetLife Investment Management LLC boosted its position in Digi International by 58.5% during the first quarter. MetLife Investment Management LLC now owns 18,052 shares of the technology company’s stock worth $388,000 after purchasing an additional 6,662 shares in the last quarter. Rhumbline Advisers boosted its position in Digi International by 2.9% during the first quarter. Rhumbline Advisers now owns 97,635 shares of the technology company’s stock worth $2,101,000 after purchasing an additional 2,711 shares in the last quarter. Lazard Asset Management LLC boosted its position in Digi International by 61.9% during the first quarter. Lazard Asset Management LLC now owns 4,350 shares of the technology company’s stock worth $93,000 after purchasing an additional 1,663 shares in the last quarter. Finally, Credit Suisse AG boosted its position in Digi International by 32.0% during the third quarter. Credit Suisse AG now owns 31,170 shares of the technology company’s stock worth $1,078,000 after purchasing an additional 7,552 shares in the last quarter. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Digi International Stock Down 0.3 %

Shares of NASDAQ:DGII opened at $30.32 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 2.35 and a debt-to-equity ratio of 0.36. Digi International Inc. has a 52-week low of $21.25 and a 52-week high of $42.95. The stock’s fifty day simple moving average is $30.19 and its 200-day simple moving average is $26.77. The company has a market capitalization of $1.10 billion, a P/E ratio of 70.51, a P/E/G ratio of 0.99 and a beta of 1.21.

Digi International (NASDAQ:DGII) last issued its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. Digi International had a return on equity of 11.87% and a net margin of 3.61%. The business had revenue of $106.09 million for the quarter, compared to the consensus estimate of $105.75 million. As a group, equities research analysts forecast that Digi International Inc. will post 1.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Stephens boosted their target price on Digi International from $40.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, February 5th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Digi International presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.33.

About Digi International

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.