DigitalBridge Group, Inc. $DBRG Shares Sold by Renaissance Technologies LLC

Key Points

• Renaissance Technologies cut its DigitalBridge Group stake by 20.4% in the first quarter, selling 129,400 shares and retaining 505,112 shares valued at approximately $7.8 million.
• Institutional ownership remains high at 92.69%, with Vanguard, Pentwater Capital, KRYGER CAPITAL, New South Capital Management and Geode Capital among the company’s significant institutional holders.
• DigitalBridge shares were trading at $15.82, near their 12-month high of $15.92. Analysts maintain a consensus “Hold” rating with a $16.00 price target.

Renaissance Technologies LLC lowered its position in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 20.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 505,112 shares of the company's stock after selling 129,400 shares during the period. Renaissance Technologies LLC owned about 0.28% of DigitalBridge Group worth $7,789,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of DigitalBridge Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 17,351,817 shares of the company's stock valued at $266,177,000 after purchasing an additional 116,360 shares during the period. Pentwater Capital Management LP acquired a new position in DigitalBridge Group during the fourth quarter worth approximately $176,410,000. KRYGER CAPITAL Ltd purchased a new stake in DigitalBridge Group in the fourth quarter valued at approximately $75,234,000. New South Capital Management Inc. lifted its stake in DigitalBridge Group by 21.0% in the fourth quarter. New South Capital Management Inc. now owns 4,571,797 shares of the company's stock valued at $70,131,000 after buying an additional 794,434 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of DigitalBridge Group by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 4,082,778 shares of the company's stock valued at $62,640,000 after acquiring an additional 104,773 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

DigitalBridge Group Trading Down 0.3%

NYSE:DBRG opened at $15.82 on Tuesday. The firm has a market cap of $2.89 billion, a P/E ratio of 32.30 and a beta of 1.47. The stock's 50 day simple moving average is $15.76 and its 200-day simple moving average is $15.57. DigitalBridge Group, Inc. has a 12-month low of $8.94 and a 12-month high of $15.92.

Analyst Upgrades and Downgrades

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

About DigitalBridge Group

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.

Want to see what other hedge funds are holding DBRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DigitalBridge Group, Inc. (NYSE:DBRG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.