DigitalBridge Group (NYSE:DBRG) Issues Earnings Results, Beats Expectations By $0.05 EPS

Key Points

• DigitalBridge reported quarterly EPS of $0.09, beating analysts’ consensus estimate of $0.04 by $0.05. Revenue totaled $88.06 million, below expectations of $102.90 million.
• Shares rose to $15.88, near the company’s 12-month high of $15.92, giving DigitalBridge a market capitalization of approximately $2.90 billion.
• Institutional investors own 92.69% of the stock, while analysts maintain an overall “Hold” rating with an average price target of $16.00.

DigitalBridge Group (NYSE:DBRG - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.05, FiscalAI reports. The firm had revenue of $88.06 million during the quarter, compared to analysts' expectations of $102.90 million.

DigitalBridge Group Price Performance

Shares of NYSE:DBRG traded up $0.05 during trading on Tuesday, reaching $15.88. 4,598,258 shares of the company were exchanged, compared to its average volume of 3,491,009. The business's fifty day simple moving average is $15.76 and its 200-day simple moving average is $15.57. DigitalBridge Group has a 12-month low of $8.94 and a 12-month high of $15.92. The firm has a market capitalization of $2.90 billion, a PE ratio of 32.41 and a beta of 1.47.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its position in DigitalBridge Group by 305.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,760 shares of the company's stock valued at $27,000 after purchasing an additional 1,326 shares in the last quarter. Quarry LP grew its position in shares of DigitalBridge Group by 1,467.2% during the 4th quarter. Quarry LP now owns 2,053 shares of the company's stock worth $31,000 after buying an additional 1,922 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of DigitalBridge Group during the 2nd quarter worth $109,000. Russell Investments Group Ltd. grew its position in shares of DigitalBridge Group by 239.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 11,373 shares of the company's stock worth $118,000 after buying an additional 8,022 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of DigitalBridge Group by 12.5% during the second quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company's stock valued at $122,000 after buying an additional 1,309 shares during the period. Institutional investors own 92.69% of the company's stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of DigitalBridge Group in a research note on Friday, May 29th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $16.00.

About DigitalBridge Group

DigitalBridge Group, Inc NYSE: DBRG is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.

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