ABC Arbitrage SA Sells 92,179 Shares of DigitalBridge Group, Inc. $DBRG

Key Points

• ABC Arbitrage SA reduced its DigitalBridge stake by 21% in the first quarter, selling 92,179 shares and ending the period with 346,012 shares valued at about $5.34 million.
• Institutional ownership remains high, with several large funds increasing their positions, including Goldman Sachs, which boosted its holdings by 45.3%; institutions now own 92.69% of DigitalBridge’s shares.
• Wall Street’s view is mixed but mostly neutral: the consensus rating is “Hold,” with one buy, seven hold, and one sell rating, while the average price target is $16.00.

ABC Arbitrage SA cut its position in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 21.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 346,012 shares of the company's stock after selling 92,179 shares during the quarter. ABC Arbitrage SA owned about 0.19% of DigitalBridge Group worth $5,336,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of DBRG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of DigitalBridge Group by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,556 shares of the company's stock valued at $834,000 after purchasing an additional 4,122 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of DigitalBridge Group by 45.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,225,993 shares of the company's stock worth $19,633,000 after buying an additional 693,613 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of DigitalBridge Group by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 392,094 shares of the company's stock worth $3,458,000 after buying an additional 21,930 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of DigitalBridge Group by 12.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company's stock worth $122,000 after buying an additional 1,309 shares during the period. Finally, Cetera Investment Advisers grew its position in shares of DigitalBridge Group by 39.1% during the 2nd quarter. Cetera Investment Advisers now owns 21,360 shares of the company's stock worth $221,000 after buying an additional 6,000 shares during the period. Institutional investors own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

DBRG has been the topic of a number of research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of DigitalBridge Group in a research report on Friday, May 29th. Truist Financial started coverage on shares of DigitalBridge Group in a research report on Tuesday, March 31st. They set a "buy" rating and a $16.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $16.00.

DigitalBridge Group Stock Performance

Shares of NYSE DBRG opened at $15.70 on Tuesday. DigitalBridge Group, Inc. has a fifty-two week low of $8.94 and a fifty-two week high of $15.82. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 32.03 and a beta of 1.46. The firm's 50-day simple moving average is $15.71 and its 200 day simple moving average is $15.49.

DigitalBridge Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, June 30th. DigitalBridge Group's dividend payout ratio is presently 8.16%.

DigitalBridge Group Profile

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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