DigitalBridge Group, Inc. $DBRG Shares Purchased by Gabelli Funds LLC

Key Points

• Gabelli Funds more than doubled its DigitalBridge stake in the first quarter, purchasing 437,950 additional shares to hold 865,500 shares worth approximately $13.35 million.
• Institutional investors and hedge funds own 92.69% of DBRG’s outstanding shares, with several other firms also increasing or initiating positions.
• Analyst sentiment remains mixed, with an overall “Hold” rating and a consensus price target of $16.00; DBRG opened at $15.88 and trades near its 52-week high of $15.92.

Gabelli Funds LLC boosted its holdings in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 102.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 865,500 shares of the company's stock after purchasing an additional 437,950 shares during the quarter. Gabelli Funds LLC owned approximately 0.47% of DigitalBridge Group worth $13,346,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Truist Financial assumed coverage on shares of DigitalBridge Group in a report on Tuesday, March 31st. They set a "buy" rating and a $16.00 price objective for the company. Weiss Ratings restated a "hold (c)" rating on shares of DigitalBridge Group in a research note on Friday, May 29th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $16.00.

DigitalBridge Group Trading Down 0.1%

Shares of DBRG opened at $15.88 on Monday. DigitalBridge Group, Inc. has a 52 week low of $8.94 and a 52 week high of $15.92. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 32.42 and a beta of 1.46. The stock has a 50 day moving average of $15.74 and a 200-day moving average of $15.55.

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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