Carmignac Gestion Buys New Position in DigitalBridge Group, Inc. $DBRG

Key Points

• Carmignac Gestion initiated a position in DigitalBridge Group during the first quarter, buying 369,415 shares valued at approximately $5.7 million, or about 0.20% of the company.
• Institutional ownership remains high at 92.69%, with several other funds increasing or initiating positions in DBRG.
• DigitalBridge shares opened at $15.86, near their 52-week high of $15.92. Analysts maintain a consensus “Hold” rating with a $16.00 price target.

Carmignac Gestion purchased a new position in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 369,415 shares of the company's stock, valued at approximately $5,696,000. Carmignac Gestion owned approximately 0.20% of DigitalBridge Group at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of DBRG. Steward Partners Investment Advisory LLC boosted its holdings in DigitalBridge Group by 305.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,760 shares of the company's stock worth $27,000 after acquiring an additional 1,326 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of DigitalBridge Group by 70.4% during the first quarter. Parallel Advisors LLC now owns 1,891 shares of the company's stock valued at $29,000 after purchasing an additional 781 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new position in DigitalBridge Group during the fourth quarter worth about $31,000. Beaird Harris Wealth Management LLC bought a new stake in DigitalBridge Group in the 4th quarter worth about $31,000. Finally, Quarry LP grew its position in DigitalBridge Group by 1,467.2% in the 4th quarter. Quarry LP now owns 2,053 shares of the company's stock worth $31,000 after purchasing an additional 1,922 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

DigitalBridge Group Stock Performance

Shares of NYSE:DBRG opened at $15.86 on Monday. The company has a market capitalization of $2.89 billion, a P/E ratio of 32.36 and a beta of 1.47. The company's 50-day moving average is $15.75 and its 200 day moving average is $15.57. DigitalBridge Group, Inc. has a fifty-two week low of $8.94 and a fifty-two week high of $15.92.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of DigitalBridge Group in a research note on Friday, May 29th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $16.00.

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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