Wall Street Zen Upgrades DigitalBridge Group (NYSE:DBRG) to Hold

Key Points

• DigitalBridge Group was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating.
• As of now, the stock has a consensus rating of "Buy" from analysts, with a consensus price target of $15.94.
• Several institutional investors significantly increased their holdings in DigitalBridge Group, indicating strong interest and confidence in the company.

DigitalBridge Group (NYSE:DBRG - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

DBRG has been the subject of several other research reports. Keefe, Bruyette & Woods dropped their price objective on shares of DigitalBridge Group from $13.50 to $10.50 and set a "market perform" rating for the company in a research note on Tuesday, May 6th. JMP Securities reaffirmed a "market outperform" rating and set a $16.00 price objective on shares of DigitalBridge Group in a research report on Friday, May 16th. Finally, Truist Financial raised their price target on shares of DigitalBridge Group from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Tuesday, June 3rd. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $16.00.

DigitalBridge Group Stock Performance

NYSE DBRG traded up $0.27 on Friday, reaching $10.91. 2,059,356 shares of the company's stock traded hands, compared to its average volume of 2,673,227. The stock has a 50 day moving average price of $10.60 and a 200-day moving average price of $10.00. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of -272.25 and a beta of 1.77. DigitalBridge Group has a fifty-two week low of $6.41 and a fifty-two week high of $17.33.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DBRG. Lazard Asset Management LLC increased its stake in DigitalBridge Group by 384.5% in the fourth quarter. Lazard Asset Management LLC now owns 3,346,966 shares of the company's stock valued at $37,753,000 after purchasing an additional 2,656,100 shares during the period. Lind Value II ApS acquired a new position in shares of DigitalBridge Group during the first quarter worth about $17,479,000. Brown Advisory Inc. increased its stake in shares of DigitalBridge Group by 78.2% during the fourth quarter. Brown Advisory Inc. now owns 3,658,935 shares of the company's stock worth $41,273,000 after acquiring an additional 1,605,391 shares during the period. Clearline Capital LP increased its stake in shares of DigitalBridge Group by 189.8% during the first quarter. Clearline Capital LP now owns 2,286,782 shares of the company's stock worth $20,169,000 after acquiring an additional 1,497,664 shares during the period. Finally, DAVENPORT & Co LLC acquired a new position in shares of DigitalBridge Group during the second quarter worth about $13,351,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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.