Key Points
- CEO John Hilburn Iv Davis bought 70,127 shares of Digital Brands Group for about $49,088.90 at an average price of $0.70 per share, boosting his ownership to 70,128 shares.
- DBGI shares were up 8.1% and opened at $1.07, with the stock trading well below its 52-week high of $18.00 and above its 52-week low of $0.26.
- Analysts remain cautious on the stock, with the current consensus rating of “Sell” after recent downgrades and sell ratings from research firms.
Digital Brands Group, Inc. (NASDAQ:DBGI - Get Free Report) CEO John Hilburn Iv Davis acquired 70,127 shares of Digital Brands Group stock in a transaction dated Tuesday, June 2nd. The shares were acquired at an average price of $0.70 per share, with a total value of $49,088.90. Following the transaction, the chief executive officer owned 70,128 shares in the company, valued at approximately $49,089.60. This represents a 7,012,700.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.
Digital Brands Group Trading Up 8.1%
NASDAQ:DBGI opened at $1.07 on Wednesday. Digital Brands Group, Inc. has a twelve month low of $0.26 and a twelve month high of $18.00. The company has a 50-day moving average of $1.29 and a 200-day moving average of $5.39. The firm has a market cap of $22.90 million, a price-to-earnings ratio of -0.40 and a beta of 0.17.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in DBGI. Dimensional Fund Advisors LP acquired a new position in shares of Digital Brands Group in the first quarter worth about $29,000. Cantor Fitzgerald L. P. acquired a new position in shares of Digital Brands Group in the third quarter worth about $221,000. Fifth Third Bancorp acquired a new position in shares of Digital Brands Group in the first quarter worth about $432,000. Connective Capital Management LLC acquired a new position in shares of Digital Brands Group in the fourth quarter worth about $876,000. Finally, Geode Capital Management LLC acquired a new position in shares of Digital Brands Group in the fourth quarter worth about $890,000. 1.56% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have recently weighed in on DBGI. Wall Street Zen lowered shares of Digital Brands Group from a "sell" rating to a "strong sell" rating in a research report on Saturday, May 16th. Weiss Ratings restated a "sell (e+)" rating on shares of Digital Brands Group in a research report on Monday, April 20th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of "Sell".
Get Our Latest Research Report on DBGI
Digital Brands Group Company Profile
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Get Free Report)
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.
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