Crescent Park Management L.P. Purchases Shares of 541,538 DigitalBridge Group, Inc. $DBRG

Key Points

• Crescent Park Management L.P. has acquired 541,538 shares of DigitalBridge Group, valued at approximately $4,776,000, making it the firm's 14th largest position.
• Recent reports indicate a mixed view from analysts, with two rating the stock a Strong Buy and others issuing a Sell rating, resulting in a consensus rating of "Buy" and an average price target of $16.14.
• DigitalBridge Group recently announced a quarterly dividend of $0.01 per share, reflecting a dividend yield of 0.4%.

Crescent Park Management L.P. acquired a new position in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 541,538 shares of the company's stock, valued at approximately $4,776,000. DigitalBridge Group comprises about 2.2% of Crescent Park Management L.P.'s investment portfolio, making the stock its 14th biggest position. Crescent Park Management L.P. owned about 0.31% of DigitalBridge Group as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sunbelt Securities Inc. increased its stake in DigitalBridge Group by 109.9% in the fourth 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 shares of DigitalBridge Group during the 4th quarter valued at about $39,000. GAMMA Investing LLC increased its stake in shares of DigitalBridge Group by 978.9% during 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 last quarter. Spire Wealth Management lifted its holdings in shares of 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 acquiring an additional 2,960 shares during the period. Finally, US Bancorp DE lifted its holdings in shares of DigitalBridge Group by 187.3% during 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.

Wall Street Analyst Weigh In

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

DigitalBridge Group Trading Up 3.9%

Shares of NYSE DBRG opened at $11.3980 on Friday. The stock has a fifty day moving average price of $10.68 and a 200 day moving average price of $10.04. DigitalBridge Group, Inc. has a 12-month low of $6.41 and a 12-month high of $17.33. The company has a market cap of $2.08 billion, a P/E ratio of -284.95 and a beta of 1.77.

DigitalBridge Group Announces Dividend

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 issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Tuesday, September 30th. DigitalBridge Group's dividend payout ratio (DPR) is presently -100.00%.

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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