Punch Associates Investment Management Lowers stake in Digi International (DGII)

Digi International (DGII) : Punch Associates Investment Management reduced its stake in Digi International by 0.16% during the most recent quarter end. The investment management company now holds a total of 1,049,366 shares of Digi International which is valued at $11,427,596 after selling 1,706 shares in Digi International , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.Digi International makes up approximately 1.27% of Punch Associates Investment Management’s portfolio.

Other Hedge Funds, Including , Cutler Group Lp sold out all of its stake in DGII during the most recent quarter. The investment firm sold 220 shares of DGII which is valued $2,413.Bnp Paribas Arbitrage Sa boosted its stake in DGII in the latest quarter, The investment management firm added 4,310 additional shares and now holds a total of 7,913 shares of Digi International which is valued at $81,504.

Digi International closed down -0.14 points or -1.27% at $10.89 with 68,089 shares getting traded on Monday. Post opening the session at $11.07, the shares hit an intraday low of $10.281 and an intraday high of $11.07 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Digi International reported $0.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.05. The company had revenue of $50.16 million for the quarter, compared to analysts expectations of $49.02 million. The company’s revenue was down -.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.04 EPS.

Digi International Inc. (Digi) is a provider of machine-to-machine (M2M) networking hardware and solutions. The Company’s solutions are aimed at connection monitoring and control of local or remote physical assets by electronic means. The networking products and solutions can connect communication hardware to a physical asset convey information about the asset’s status and performance to a computer system and then use that information to improve or automate one or more processes. Digi’s solutions are used in wireless networks as wireless networking technologies. The Company’s solutions portfolio includes wireless and wired hardware products and services and solutions including professional consulting services product design and development services the Device Cloud by Etherios (Device Cloud) which is a platform as-a-service (PAAS) offering and application development services.

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