GABELLI & Co INVESTMENT ADVISERS INC. Has $9.14 Million Stock Holdings in DigitalBridge Group, Inc. $DBRG

Key Points

• GABELLI & Co INVESTMENT ADVISERS INC. more than doubled its stake in DigitalBridge Group during the first quarter, increasing holdings by 101.2% to 592,830 shares worth about $9.14 million.
• DigitalBridge remains heavily owned by institutions, with 92.69% of shares held by institutional investors and hedge funds. Several smaller funds also added to or initiated positions in the stock during recent quarters.
• Analyst sentiment on DBRG is mixed but leans cautious: the stock currently carries a Hold consensus rating, with a consensus price target of $16.00.

GABELLI & Co INVESTMENT ADVISERS INC. increased its position in DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 101.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 592,830 shares of the company's stock after purchasing an additional 298,200 shares during the quarter. DigitalBridge Group makes up 1.4% of GABELLI & Co INVESTMENT ADVISERS INC.'s holdings, making the stock its 22nd largest position. GABELLI & Co INVESTMENT ADVISERS INC. owned about 0.33% of DigitalBridge Group worth $9,141,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of DBRG. Steward Partners Investment Advisory LLC increased its position in 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 during the last quarter. Parallel Advisors LLC raised its stake in DigitalBridge Group by 70.4% in 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. Atlantic Union Bankshares Corp acquired a new stake in shares of DigitalBridge Group in the fourth quarter valued at approximately $31,000. Beaird Harris Wealth Management LLC acquired a new stake in shares of DigitalBridge Group in the fourth quarter valued at approximately $31,000. Finally, Quarry LP boosted its stake in shares of DigitalBridge Group by 1,467.2% during the 4th quarter. Quarry LP now owns 2,053 shares of the company's stock worth $31,000 after acquiring an additional 1,922 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DBRG has been the topic of a number of recent analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of DigitalBridge Group in a report on Friday, May 29th. Truist Financial initiated coverage on DigitalBridge Group in a report on Tuesday, March 31st. They set a "buy" rating and a $16.00 price target for the company. 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, the company presently has a consensus rating of "Hold" and a consensus target price of $16.00.

DigitalBridge Group Stock Up 0.3%

DigitalBridge Group stock opened at $15.88 on Friday. The stock has a market cap of $2.90 billion, a P/E ratio of 32.42 and a beta of 1.46. DigitalBridge Group, Inc. has a twelve month low of $8.94 and a twelve month high of $15.92. The company's 50-day moving average price is $15.74 and its two-hundred day moving average price is $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.

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.