DigitalBridge Group, Inc. (NYSE:DBRG) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. has reduced its stake in DigitalBridge Group by 34.8% and now holds approximately 0.52% of the company, valued at around $8 million.
• Several institutional investors, including Lazard Asset Management and Brown Advisory Inc., have significantly increased their positions in DigitalBridge Group during the past quarter.
• Analysts have mixed views on DigitalBridge Group, with ratings ranging from sell to strong buy, and an average price target set at $15.94.

Pacer Advisors Inc. reduced its stake in DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 34.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 907,981 shares of the company's stock after selling 484,218 shares during the quarter. Pacer Advisors Inc. owned approximately 0.52% of DigitalBridge Group worth $8,008,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Sunbelt Securities Inc. grew its position in DigitalBridge Group by 109.9% in the fourth quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company's stock worth $31,000 after acquiring an additional 1,464 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in DigitalBridge Group in the fourth quarter worth about $39,000. GAMMA Investing LLC grew its position in DigitalBridge Group by 978.9% in the first quarter. GAMMA Investing LLC now owns 4,445 shares of the company's stock worth $39,000 after acquiring an additional 4,033 shares in the last quarter. Meeder Asset Management Inc. grew its position in DigitalBridge Group by 114.0% in the fourth quarter. Meeder Asset Management Inc. now owns 5,087 shares of the company's stock worth $57,000 after acquiring an additional 2,710 shares in the last quarter. Finally, Spire Wealth Management lifted its stake in DigitalBridge Group by 91.1% in the first quarter. Spire Wealth Management now owns 6,208 shares of the company's stock worth $55,000 after purchasing an additional 2,960 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

DigitalBridge Group Trading Down 1.3%

DBRG stock traded down $0.15 during mid-day trading on Thursday, reaching $10.73. The company's stock had a trading volume of 304,740 shares, compared to its average volume of 2,696,575. The stock has a market cap of $1.89 billion, a PE ratio of 35.75, a P/E/G ratio of 1.24 and a beta of 1.67. DigitalBridge Group, Inc. has a fifty-two week low of $6.41 and a fifty-two week high of $17.33. The company's 50 day moving average is $10.70 and its two-hundred day moving average is $10.05.

DigitalBridge Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $0.01 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.37%. DigitalBridge Group's payout ratio is 13.33%.

Wall Street Analyst Weigh In

DBRG has been the subject of several analyst reports. Keefe, Bruyette & Woods decreased their price objective on shares of DigitalBridge Group from $13.50 to $10.50 and set a "market perform" rating for the company in a research note on Tuesday, May 6th. Truist Financial boosted their target price on DigitalBridge Group from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, June 3rd. Wall Street Zen downgraded DigitalBridge Group from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Finally, JMP Securities reissued a "market outperform" rating and set a $16.00 price objective on shares of DigitalBridge Group in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $15.94.

About DigitalBridge Group

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.