DigitalBridge Group Sees Unusually Large Options Volume (NYSE:DBRG)

Key Points

• DigitalBridge Group experienced an unusual surge in options trading, with 65,461 call options being purchased, marking a 4,215% increase over the typical daily volume.
• In the first quarter, several institutional investors significantly increased their positions, leading to institutional ownership of 92.69% of the company's stock.
• The company's share price rose 15.6% to $13.47 during midday trading, with a market capitalization of $2.45 billion and a negative price-to-earnings ratio of -335.23.

DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report) was the recipient of some unusual options trading on Tuesday. Stock investors acquired 65,461 call options on the company. This represents an increase of approximately 4,215% compared to the typical daily volume of 1,517 call options.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Palisade Capital Management LP increased its holdings in DigitalBridge Group by 30.5% in the first quarter. Palisade Capital Management LP now owns 1,734,855 shares of the company's stock valued at $15,301,000 after buying an additional 404,960 shares during the last quarter. Northern Trust Corp grew its holdings in DigitalBridge Group by 3.8% in the 1st quarter. Northern Trust Corp now owns 1,579,691 shares of the company's stock worth $13,933,000 after buying an additional 57,152 shares in the last quarter. Jump Financial LLC bought a new position in DigitalBridge Group in the 1st quarter worth approximately $1,278,000. Brown Advisory Inc. grew its holdings in DigitalBridge Group by 0.9% in the 1st quarter. Brown Advisory Inc. now owns 3,692,895 shares of the company's stock worth $32,571,000 after buying an additional 33,960 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in DigitalBridge Group in the first quarter worth approximately $93,000. Institutional investors and hedge funds own 92.69% of the company's stock.

DigitalBridge Group Trading Up 15.6%

Shares of DBRG traded up $1.82 during midday trading on Tuesday, reaching $13.47. 5,539,791 shares of the company were exchanged, compared to its average volume of 2,587,490. The stock has a 50-day moving average price of $11.48 and a 200-day moving average price of $10.40. The company has a market cap of $2.45 billion, a price-to-earnings ratio of -335.23 and a beta of 1.66. DigitalBridge Group has a 1-year low of $6.41 and a 1-year high of $17.33.

DigitalBridge Group (NYSE:DBRG - Get Free Report) last issued its quarterly earnings data on Thursday, March 21st. The company reported ($0.07) EPS for the quarter. DigitalBridge Group had a return on equity of 4.14% and a net margin of 18.57%.The company had revenue of $232.83 million for the quarter. Equities research analysts anticipate that DigitalBridge Group will post 0.17 earnings per share for the current year.

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.01 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. DigitalBridge Group's payout ratio is -100.00%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DBRG. Wall Street Zen upgraded DigitalBridge Group from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Keefe, Bruyette & Woods lifted their target price on DigitalBridge Group from $10.50 to $11.00 and gave the company a "market perform" rating in a report on Tuesday, August 12th. Truist Financial lifted their target price on DigitalBridge Group from $15.00 to $16.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of DigitalBridge Group in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, DigitalBridge Group has an average rating of "Moderate Buy" and an average price target of $16.14.

DigitalBridge Group Company 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.

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