Private Management Group Inc. Boosts Stock Position in DigitalBridge Group, Inc. (NYSE:DBRG)

Private Management Group Inc. grew its holdings in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 2.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,419,710 shares of the company’s stock after purchasing an additional 38,768 shares during the quarter. Private Management Group Inc.’s holdings in DigitalBridge Group were worth $20,061,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DBRG. Massachusetts Financial Services Co. MA bought a new position in DigitalBridge Group during the second quarter valued at about $39,033,000. New South Capital Management Inc. grew its position in shares of DigitalBridge Group by 40.1% during the 2nd quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company’s stock valued at $53,838,000 after acquiring an additional 1,125,549 shares during the period. Wafra Inc. grew its position in shares of DigitalBridge Group by 7.1% during the 2nd quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock valued at $211,745,000 after acquiring an additional 1,020,409 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of DigitalBridge Group by 54.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,686,145 shares of the company’s stock worth $36,797,000 after purchasing an additional 952,408 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in DigitalBridge Group by 125.4% in the second quarter. Point72 Asset Management L.P. now owns 1,629,197 shares of the company’s stock valued at $22,320,000 after purchasing an additional 906,297 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

DigitalBridge Group Price Performance

DBRG stock traded down $2.28 during midday trading on Friday, reaching $13.41. The company had a trading volume of 10,255,148 shares, compared to its average volume of 2,315,749. The firm has a 50-day moving average price of $14.33 and a 200-day moving average price of $14.00. The company has a market capitalization of $2.33 billion, a P/E ratio of 6.30, a P/E/G ratio of 2.84 and a beta of 1.95. DigitalBridge Group, Inc. has a 1 year low of $11.07 and a 1 year high of $20.99.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The business had revenue of $390.34 million for the quarter, compared to the consensus estimate of $97.05 million. DigitalBridge Group had a net margin of 35.10% and a return on equity of 4.49%. On average, equities analysts predict that DigitalBridge Group, Inc. will post 0.16 EPS for the current year.

DigitalBridge Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.01 per share. The ex-dividend date was Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.30%. DigitalBridge Group’s payout ratio is 1.88%.

Analysts Set New Price Targets

DBRG has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their target price on DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Wells Fargo & Company cut their target price on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Raymond James dropped their price target on shares of DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating on the stock in a research note on Thursday, August 8th. B. Riley reduced their price objective on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $19.22.

DigitalBridge Group Company Profile

DigitalBridge is an infrastructure investment firm specializing in digital infrastructure assets. They provide services to institutional investors. They primarily invest in data centers, cell towers, fiber networks, small cells, and edge infrastructure. DigitalBridge Group, Inc was founded in 1991 and is headquartered in Boca Raton, Florida with additional offices in Los Angles, California, and New York New York.