AlphaQuest LLC Takes $341,000 Position in DigitalBridge Group, Inc. $DBRG

Key Points

• AlphaQuest LLC has made a new investment in DigitalBridge Group, Inc., acquiring 38,671 shares valued at approximately $341,000 in the first quarter.
• Several large investors have increased their stakes in DigitalBridge Group, with Lazard Asset Management boosting its position by 384.5% in the fourth quarter.
• DigitalBridge Group's stock currently has a consensus rating of "Buy" with an average target price of $16.14, as analysts predict growth for the company.

AlphaQuest LLC purchased a new stake in DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 38,671 shares of the company's stock, valued at approximately $341,000.

Several other hedge funds also recently made changes to their positions in the company. Sunbelt Securities Inc. grew its stake in shares of DigitalBridge Group by 109.9% in the 4th quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company's stock valued at $31,000 after purchasing an additional 1,464 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in DigitalBridge Group in the 4th quarter valued at $39,000. GAMMA Investing LLC raised its position in DigitalBridge Group by 978.9% during the 1st quarter. GAMMA Investing LLC now owns 4,445 shares of the company's stock worth $39,000 after buying an additional 4,033 shares during the last quarter. Spire Wealth Management raised its position in DigitalBridge Group by 91.1% during the 1st quarter. Spire Wealth Management now owns 6,208 shares of the company's stock worth $55,000 after buying an additional 2,960 shares during the last quarter. Finally, US Bancorp DE lifted its stake in shares of DigitalBridge Group by 187.3% in the 1st quarter. US Bancorp DE now owns 6,265 shares of the company's stock worth $55,000 after acquiring an additional 4,084 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

DigitalBridge Group Stock Performance

NYSE:DBRG traded up $0.12 during mid-day trading on Monday, hitting $11.39. 1,514,597 shares of the company's stock traded hands, compared to its average volume of 1,999,666. The company has a market cap of $2.07 billion, a PE ratio of -284.70 and a beta of 1.63. The firm's 50 day simple moving average is $10.81 and its 200 day simple moving average is $10.06. DigitalBridge Group, Inc. has a 1 year low of $6.41 and a 1 year high of $17.33.

DigitalBridge Group Dividend Announcement

The business also recently announced 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 of this dividend is Tuesday, September 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.4%. DigitalBridge Group's dividend payout ratio is presently -100.00%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of DigitalBridge Group from $10.50 to $11.00 and gave the stock a "market perform" rating in a report on Tuesday, August 12th. JMP Securities reissued a "market outperform" rating and set a $16.00 target price on shares of DigitalBridge Group in a research note on Friday, May 16th. Wall Street Zen lowered DigitalBridge Group from a "hold" rating to a "sell" rating in a report on Sunday, August 17th. Finally, Truist Financial raised 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. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $16.14.

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.