Private Management Group Inc. Has $16.74 Million Position in DigitalBridge Group, Inc. (NYSE:DBRG)

Private Management Group Inc. increased its holdings in DigitalBridge Group, Inc. (NYSE:DBRG) by 4.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,483,594 shares of the company’s stock after purchasing an additional 63,884 shares during the period. Private Management Group Inc.’s holdings in DigitalBridge Group were worth $16,735,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its stake in shares of DigitalBridge Group by 4.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 94,155 shares of the company’s stock valued at $1,290,000 after purchasing an additional 4,005 shares during the period. Algert Global LLC acquired a new stake in DigitalBridge Group in the 2nd quarter valued at $225,000. Truist Financial Corp acquired a new stake in DigitalBridge Group in the 2nd quarter valued at $476,000. Cetera Investment Advisers grew its position in DigitalBridge Group by 3.5% in the second quarter. Cetera Investment Advisers now owns 81,447 shares of the company’s stock valued at $1,116,000 after acquiring an additional 2,747 shares during the period. Finally, Handelsbanken Fonder AB raised its stake in DigitalBridge Group by 34.7% during the third quarter. Handelsbanken Fonder AB now owns 46,600 shares of the company’s stock worth $658,000 after acquiring an additional 12,000 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. B. Riley reduced their target price on shares of DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. JMP Securities began coverage on shares of DigitalBridge Group in a research report on Monday, January 27th. They issued an “outperform” rating and a $16.00 price target on the stock. Citizens Jmp raised shares of DigitalBridge Group to a “strong-buy” rating in a report on Monday, January 27th. JPMorgan Chase & Co. reduced their target price on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, January 21st. Finally, Wells Fargo & Company decreased their price target 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. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $16.67.

DigitalBridge Group Price Performance

DBRG stock opened at $10.92 on Thursday. The company has a 50 day moving average price of $11.48 and a 200 day moving average price of $12.87. DigitalBridge Group, Inc. has a fifty-two week low of $10.24 and a fifty-two week high of $20.99. The stock has a market capitalization of $1.90 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 2.97 and a beta of 1.91.

DigitalBridge Group 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.