DigitalBridge Group (NYSE:DBRG) Reaches New 12-Month High - What's Next?

Key Points

• DigitalBridge Group reached a new 52-week high, trading as high as $15.92 and closing near $15.90. Its 50-day and 200-day moving averages are $15.74 and $15.55, respectively.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating from nine analysts, with a consensus price target of $16.00; Truist Financial initiated coverage with a Buy rating and a $16 target.
• Institutional ownership is substantial, with hedge funds and other institutions holding 92.69% of shares. Several investment firms recently established major positions, including Pentwater Capital and Kryger Capital.

DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $15.92 and last traded at $15.90, with a volume of 1808 shares changing hands. The stock had previously closed at $15.90.

Wall Street Analyst Weigh In

DBRG has been the subject of several research reports. Truist Financial initiated coverage on shares of DigitalBridge Group in a research report on Tuesday, March 31st. They issued a "buy" rating and a $16.00 price objective for the company. Weiss Ratings restated a "hold (c)" rating on shares of DigitalBridge Group in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, DigitalBridge Group presently has a consensus rating of "Hold" and a consensus target price of $16.00.

DigitalBridge Group Price Performance

The company's fifty day moving average price is $15.74 and its two-hundred day moving average price is $15.55. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 32.45 and a beta of 1.46.

Institutional Investors Weigh In On DigitalBridge Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Pentwater Capital Management LP bought a new position in DigitalBridge Group in the fourth quarter valued at $176,410,000. Kryger Capital LLC acquired a new stake in DigitalBridge Group in the 1st quarter valued at $102,736,000. KRYGER CAPITAL Ltd bought a new stake in DigitalBridge Group during the 4th quarter worth about $75,234,000. Soros Fund Management LLC bought a new stake in DigitalBridge Group during the 4th quarter worth about $36,816,000. Finally, Toronto Dominion Bank acquired a new position in shares of DigitalBridge Group during the 4th quarter worth about $36,326,000. Institutional investors and hedge funds 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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