DigitalBridge Group (NYSE:DBRG) Reaches New 12-Month Low – Here’s What Happened

DigitalBridge Group, Inc. (NYSE:DBRG) hit a new 52-week low on Wednesday . The company traded as low as $10.20 and last traded at $10.33, with a volume of 199630 shares traded. The stock had previously closed at $10.49.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DBRG. Citizens Jmp raised DigitalBridge Group to a “strong-buy” rating in a report on Monday, January 27th. Truist Financial lowered their price objective on DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. JPMorgan Chase & Co. dropped their price objective on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. Wells Fargo & Company reduced their price objective on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, Keefe, Bruyette & Woods lowered shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $17.75 to $14.00 in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, DigitalBridge Group presently has an average rating of “Buy” and an average price target of $16.67.

DigitalBridge Group Price Performance

The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 2.95 and a beta of 1.91. The company’s 50-day moving average price is $11.29 and its two-hundred day moving average price is $12.77.

Institutional Investors Weigh In On DigitalBridge Group

Large investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. acquired a new stake in shares of DigitalBridge Group in the 3rd quarter valued at about $34,000. Spire Wealth Management bought a new stake in shares of DigitalBridge Group during the fourth quarter valued at approximately $37,000. Manchester Capital Management LLC raised its position in shares of DigitalBridge Group by 172.1% during the fourth quarter. Manchester Capital Management LLC now owns 4,372 shares of the company’s stock worth $49,000 after purchasing an additional 2,765 shares during the period. Blue Trust Inc. lifted its holdings in shares of DigitalBridge Group by 179.2% in the 3rd quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock worth $51,000 after purchasing an additional 2,408 shares in the last quarter. Finally, nVerses Capital LLC grew its position in DigitalBridge Group by 145.5% in the 3rd quarter. nVerses Capital LLC now owns 5,400 shares of the company’s stock valued at $76,000 after purchasing an additional 3,200 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

About DigitalBridge Group

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.