Insider Buying: Digital Brands Group (NASDAQ:DBGI) CEO Purchases $698,716.29 in Stock

Digital Brands Group, Inc. (NASDAQ:DBGI) CEO John Hilburn Iv Davis purchased 618,333 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was bought at an average cost of $1.13 per share, for a total transaction of $698,716.29. Following the completion of the purchase, the chief executive officer directly owned 688,461 shares of the company’s stock, valued at $777,960.93. The trade was a 881.72% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

John Hilburn Iv Davis also recently made the following trade(s):

• On Tuesday, June 2nd, John Hilburn Iv Davis acquired 70,127 shares of Digital Brands Group stock. The shares were purchased at an average price of $0.70 per share, with a total value of $49,088.90.

Digital Brands Group Stock Performance

DBGI opened at $0.94 on Monday. The stock has a fifty day moving average price of $1.25 and a 200 day moving average price of $5.26. Digital Brands Group, Inc. has a 1 year low of $0.26 and a 1 year high of $18.00. The stock has a market cap of $20.22 million, a price-to-earnings ratio of -0.35 and a beta of 0.17.

Hedge Funds Weigh In On Digital Brands Group

Hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP bought a new position in Digital Brands Group during the first quarter valued at about $29,000. Cantor Fitzgerald L. P. bought a new stake in shares of Digital Brands Group during the 3rd quarter worth about $221,000. Connective Capital Management LLC acquired a new position in shares of Digital Brands Group during the 4th quarter valued at about $876,000. Geode Capital Management LLC acquired a new position in shares of Digital Brands Group during the 4th quarter valued at about $890,000. Finally, Fifth Third Bancorp bought a new position in shares of Digital Brands Group in the 1st quarter valued at approximately $432,000. 1.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DBGI has been the subject of several recent research reports. Wall Street Zen cut Digital Brands Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed 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, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

About Digital Brands Group

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.