Beach Point Capital Management LP Lowers Stock Holdings in Diebold Nixdorf, Incorporated $DBD

Beach Point Capital Management LP reduced its position in shares of Diebold Nixdorf, Incorporated (NYSE:DBD) by 13.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,356,777 shares of the technology company’s stock after selling 213,753 shares during the period. Diebold Nixdorf makes up about 35.0% of Beach Point Capital Management LP’s portfolio, making the stock its 2nd biggest holding. Beach Point Capital Management LP’s holdings in Diebold Nixdorf were worth $77,377,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC acquired a new stake in Diebold Nixdorf in the 2nd quarter worth about $1,823,000. Walleye Capital LLC acquired a new stake in shares of Diebold Nixdorf in the second quarter valued at approximately $1,510,000. American Century Companies Inc. boosted its stake in shares of Diebold Nixdorf by 364.5% in the second quarter. American Century Companies Inc. now owns 289,029 shares of the technology company’s stock valued at $16,012,000 after buying an additional 226,810 shares during the period. Envestnet Asset Management Inc. acquired a new stake in Diebold Nixdorf during the second quarter worth approximately $210,000. Finally, Teacher Retirement System of Texas bought a new position in Diebold Nixdorf during the 2nd quarter worth $1,308,000. 97.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Diebold Nixdorf in a research report on Monday, December 29th. Wedbush reaffirmed an “outperform” rating and set a $80.00 price objective on shares of Diebold Nixdorf in a research report on Tuesday, November 18th. Finally, Wall Street Zen upgraded shares of Diebold Nixdorf from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $80.00.

Diebold Nixdorf Stock Up 2.3%

Shares of NYSE DBD opened at $65.44 on Tuesday. The company has a current ratio of 1.36, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 47.77 and a beta of 1.55. Diebold Nixdorf, Incorporated has a 12 month low of $34.88 and a 12 month high of $69.94. The stock has a 50-day moving average price of $64.73 and a two-hundred day moving average price of $60.66.

Diebold Nixdorf (NYSE:DBD) last posted its quarterly earnings results on Wednesday, November 5th. The technology company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.73. The company had revenue of $945.20 million for the quarter, compared to the consensus estimate of $947.43 million. Diebold Nixdorf had a net margin of 1.37% and a return on equity of 10.89%. As a group, analysts forecast that Diebold Nixdorf, Incorporated will post 4.59 earnings per share for the current fiscal year.

Diebold Nixdorf announced that its board has authorized a stock buyback plan on Wednesday, November 5th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 8.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Diebold Nixdorf Company Profile

Diebold Nixdorf, Inc (NYSE: DBD) is a leading global provider of connected commerce solutions, specializing in automated teller machines (ATMs), point-of-sale (POS) systems and related software and services for the banking and retail industries. The company’s core offerings include hardware platforms, software applications for transaction management and advanced analytics tools that enable financial institutions and retailers to enhance customer engagement, streamline operations and improve security at the point of transaction.