LB Partners LLC Sells 125,000 Shares of DigitalBridge Group, Inc. $DBRG

Key Points

• LB Partners LLC reduced its holdings in DigitalBridge Group, Inc. by 37.3%, selling 125,000 shares, and now owns 210,000 shares valued at approximately $2.17 million.
• DigitalBridge Group's stock price decreased by 1.6% and has a market capitalization of $2.24 billion, with a PE ratio of -307.25.
• The company recently announced a quarterly dividend of $0.01 per share, reflecting an annualized yield of 0.3% with a payout ratio of -100.00%.

LB Partners LLC lowered its position in DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 37.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 210,000 shares of the company's stock after selling 125,000 shares during the period. DigitalBridge Group comprises about 1.4% of LB Partners LLC's portfolio, making the stock its 14th largest position. LB Partners LLC owned about 0.12% of DigitalBridge Group worth $2,174,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DBRG. GAMMA Investing LLC increased its stake in DigitalBridge Group by 978.9% in the 1st quarter. GAMMA Investing LLC now owns 4,445 shares of the company's stock valued at $39,000 after buying an additional 4,033 shares during the last quarter. Spire Wealth Management boosted its stake in shares of DigitalBridge Group by 91.1% in the 1st quarter. Spire Wealth Management now owns 6,208 shares of the company's stock worth $55,000 after buying an additional 2,960 shares during the last quarter. US Bancorp DE grew its holdings in shares of DigitalBridge Group by 187.3% in the first quarter. US Bancorp DE now owns 6,265 shares of the company's stock valued at $55,000 after acquiring an additional 4,084 shares in the last quarter. Headlands Technologies LLC increased its position in shares of DigitalBridge Group by 200.5% during the first quarter. Headlands Technologies LLC now owns 8,774 shares of the company's stock valued at $77,000 after acquiring an additional 5,854 shares during the last quarter. Finally, NCM Capital Management LLC purchased a new stake in shares of DigitalBridge Group during the first quarter valued at approximately $92,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

DigitalBridge Group Stock Down 1.6%

NYSE DBRG opened at $12.29 on Monday. The company has a market cap of $2.24 billion, a PE ratio of -307.25 and a beta of 1.66. DigitalBridge Group, Inc. has a 52 week low of $6.41 and a 52 week high of $17.33. The firm's 50-day simple moving average is $11.69 and its two-hundred day simple moving average is $10.52.

DigitalBridge Group (NYSE:DBRG - Get Free Report) last posted its earnings results on Thursday, March 21st. The company reported ($0.07) earnings per share for the quarter. DigitalBridge Group had a return on equity of 4.14% and a net margin of 18.57%.The business had revenue of $232.83 million during the quarter. As a group, equities research analysts anticipate that DigitalBridge Group, Inc. will post 0.17 EPS for the current year.

DigitalBridge Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. DigitalBridge Group's payout ratio is presently -100.00%.

Analyst Ratings Changes

DBRG has been the subject of a number of recent analyst reports. Wall Street Zen upgraded DigitalBridge Group from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Truist Financial boosted their price target on shares of DigitalBridge Group from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Keefe, Bruyette & Woods raised their price objective on shares of DigitalBridge Group from $10.50 to $11.00 and gave the stock a "market perform" rating in a report on Tuesday, August 12th. Zacks Research cut shares of DigitalBridge Group from a "hold" rating to a "strong sell" rating in a research note on Monday, October 13th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of DigitalBridge Group in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $16.14.

DigitalBridge Group 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.