DigitalBridge Group (NYSE:DBRG) Reaches New 1-Year High - What's Next?

Key Points

• DigitalBridge shares reached a new 52-week high of $15.92 and were last trading near $15.92, up 0.4%, with a market capitalization of approximately $2.91 billion.
• Analysts maintain a generally cautious outlook: the consensus rating is “Hold”, based on one Buy, seven Holds and one Sell, with an average price target of $16.00.
• Institutional ownership remains high at 92.69%, while several major investors—including Bank of America and Janus Henderson—boosted their positions during the first quarter.

DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report)'s share price hit a new 52-week high on Wednesday . The company traded as high as $15.92 and last traded at $15.9150, with a volume of 983355 shares traded. The stock had previously closed at $15.87.

Analyst Upgrades and Downgrades

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

DigitalBridge Group Stock Up 0.4%

The firm has a market capitalization of $2.91 billion, a P/E ratio of 32.52 and a beta of 1.47. The company's 50 day moving average is $15.76 and its 200-day moving average is $15.58.

Hedge Funds Weigh In On DigitalBridge Group

A number of institutional investors and hedge funds have recently made changes to their positions in DBRG. Carmignac Gestion acquired a new stake in shares of DigitalBridge Group in the 1st quarter valued at about $5,696,000. Parallel Advisors LLC raised its stake in DigitalBridge Group by 70.4% during the 1st quarter. Parallel Advisors LLC now owns 1,891 shares of the company's stock worth $29,000 after buying an additional 781 shares during the period. Optiver Holding B.V. raised its stake in DigitalBridge Group by 503.7% during the 1st quarter. Optiver Holding B.V. now owns 11,711 shares of the company's stock worth $181,000 after buying an additional 9,771 shares during the period. Bank of America Corp DE raised its stake in DigitalBridge Group by 29.4% during the 1st quarter. Bank of America Corp DE now owns 2,574,508 shares of the company's stock worth $39,699,000 after buying an additional 584,205 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in DigitalBridge Group by 992.3% in the first quarter. Janus Henderson Group PLC now owns 812,377 shares of the company's stock worth $12,539,000 after acquiring an additional 738,005 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

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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