Dimensional Fund Advisors LP Sells 738,652 Shares of DigitalBridge Group, Inc. $DBRG

Key Points

• Dimensional Fund Advisors reduced its DigitalBridge Group stake by 22.3%, selling 738,652 shares during the first quarter and retaining 2.57 million shares valued at approximately $39.7 million.
• Institutional investors own 92.69% of DigitalBridge, with several smaller funds recently increasing their positions or initiating new stakes.
• Analysts maintain a consensus “Hold” rating, with one Buy, seven Hold, and one Sell recommendation and an average price target of $16.00; DBRG recently opened at $15.82.

Dimensional Fund Advisors LP cut its holdings in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 22.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,573,729 shares of the company's stock after selling 738,652 shares during the quarter. Dimensional Fund Advisors LP owned 1.41% of DigitalBridge Group worth $39,687,000 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 raised its position in DigitalBridge Group by 305.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,760 shares of the company's stock worth $27,000 after purchasing an additional 1,326 shares during the period. Parallel Advisors LLC boosted its position in 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 buying an additional 781 shares during the period. Beaird Harris Wealth Management LLC bought a new position in shares of DigitalBridge Group during the fourth quarter valued at about $31,000. Atlantic Union Bankshares Corp bought a new position in shares of DigitalBridge Group during the fourth quarter valued at about $31,000. Finally, Quarry LP increased its holdings in shares of DigitalBridge Group by 1,467.2% in the fourth quarter. Quarry LP now owns 2,053 shares of the company's stock worth $31,000 after buying an additional 1,922 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued 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 given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $16.00.

DigitalBridge Group Price Performance

DBRG opened at $15.82 on Tuesday. DigitalBridge Group, Inc. has a one year low of $8.94 and a one year high of $15.92. The business has a 50 day simple moving average of $15.76 and a two-hundred day simple moving average of $15.57. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 32.30 and a beta of 1.47.

DigitalBridge Group Company 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source