Clearline Capital LP Purchases 1,497,664 Shares of DigitalBridge Group, Inc. $DBRG

Key Points

• Clearline Capital LP significantly increased its stake in DigitalBridge Group, acquiring an additional 1,497,664 shares, raising its holdings by 189.8% to a total of 2,286,782 shares, valued at approximately $20.17 million.
• DigitalBridge Group recently declared a quarterly $0.01 per share dividend, with an ex-dividend date of September 30, resulting in an annualized yield of 0.4% despite a negative dividend payout ratio.
• Wall Street analysts have mixed ratings for DigitalBridge Group, with an average target price of $16.14 and multiple firms, including Keefe, Bruyette & Woods, adjusting their price targets upward.

Clearline Capital LP raised its holdings in DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 189.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,286,782 shares of the company's stock after acquiring an additional 1,497,664 shares during the quarter. DigitalBridge Group comprises 1.2% of Clearline Capital LP's portfolio, making the stock its 12th largest position. Clearline Capital LP owned approximately 1.31% of DigitalBridge Group worth $20,169,000 as of its most recent SEC filing.

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

DigitalBridge Group Trading Down 1.9%

NYSE DBRG traded down $0.23 during trading on Friday, reaching $12.08. The company's stock had a trading volume of 2,033,992 shares, compared to its average volume of 1,836,384. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -302.00 and a beta of 1.63. DigitalBridge Group, Inc. has a 12 month low of $6.41 and a 12 month high of $17.33. The firm has a 50 day moving average price of $11.02 and a 200 day moving average price of $10.09.

DigitalBridge Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued 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 0.3%. DigitalBridge Group's payout ratio is currently -100.00%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DBRG. JMP Securities reiterated a "market outperform" rating and issued a $16.00 target price on shares of DigitalBridge Group in a research note on Friday, May 16th. Truist Financial lifted their target price on shares of DigitalBridge Group from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Wall Street Zen raised shares of DigitalBridge Group from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Keefe, Bruyette & Woods lifted their target price 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. Two 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's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price 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.