Beach Point Capital Management LP Cuts Holdings in Diebold Nixdorf, Incorporated (NYSE:DBD)

Beach Point Capital Management LP cut its stake in Diebold Nixdorf, Incorporated (NYSE:DBD) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,887,929 shares of the technology company’s stock after selling 156,347 shares during the quarter. Diebold Nixdorf comprises approximately 8.6% of Beach Point Capital Management LP’s holdings, making the stock its 2nd largest holding. Beach Point Capital Management LP owned approximately 5.02% of Diebold Nixdorf worth $81,256,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its position in shares of Diebold Nixdorf by 4.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 765,514 shares of the technology company’s stock valued at $34,188,000 after buying an additional 31,152 shares during the period. Geode Capital Management LLC lifted its stake in shares of Diebold Nixdorf by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 718,289 shares of the technology company’s stock worth $32,087,000 after acquiring an additional 11,917 shares during the last quarter. State Street Corp boosted its holdings in Diebold Nixdorf by 21.6% during the 3rd quarter. State Street Corp now owns 505,002 shares of the technology company’s stock valued at $22,553,000 after acquiring an additional 89,840 shares during the period. Charles Schwab Investment Management Inc. grew its position in Diebold Nixdorf by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 279,093 shares of the technology company’s stock valued at $12,464,000 after acquiring an additional 4,155 shares during the last quarter. Finally, Royce & Associates LP purchased a new stake in Diebold Nixdorf in the third quarter worth $7,901,000. 97.04% of the stock is owned by hedge funds and other institutional investors.

Diebold Nixdorf Stock Up 1.5 %

Shares of NYSE DBD opened at $47.05 on Friday. Diebold Nixdorf, Incorporated has a 52-week low of $30.37 and a 52-week high of $51.81. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 361.98 and a beta of 1.93. The stock has a 50 day moving average price of $44.16 and a 200 day moving average price of $43.47. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.96 and a current ratio of 1.45.

Diebold Nixdorf (NYSE:DBD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.25). Diebold Nixdorf had a return on equity of 21.14% and a net margin of 0.13%. Sell-side analysts expect that Diebold Nixdorf, Incorporated will post 4.02 earnings per share for the current year.

Diebold Nixdorf declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 5.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Separately, Wedbush restated an “outperform” rating and issued a $60.00 price target on shares of Diebold Nixdorf in a report on Thursday.

Diebold Nixdorf Profile

Diebold Nixdorf, Incorporated engages in the automating, digitizing, and transforming the way people bank and shop worldwide. It operates through two segments, Banking and Retail. The company offers cash recyclers and dispensers, intelligent deposit terminals, teller automation tools, and kiosk technologies, as well as physical security solutions; and front-end applications for consumer connection points and back-end platforms that manage channel transactions, operations and integration, and facilitate omnichannel transactions, endpoint monitoring, remote asset management, customer marketing, merchandise management, and analytics.