Tidal Investments LLC Acquires 285,866 Shares of DigitalBridge Group, Inc. $DBRG

Key Points

• Tidal Investments increased its DigitalBridge Group stake by 135.1% in the second quarter, purchasing 285,866 additional shares and bringing its total holdings to 497,438 shares valued at approximately $7.85 million.
• DigitalBridge shares opened at $15.90, near their 12-month high of $15.98, while institutional investors collectively owned 92.69% of the company.
• The company declared a quarterly dividend of $0.01, equivalent to $0.04 annually and a 0.3% yield. Analysts maintain a consensus “Hold” rating with an average price target of $16.00.

Tidal Investments LLC raised its holdings in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 135.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 497,438 shares of the company's stock after purchasing an additional 285,866 shares during the period. Tidal Investments LLC owned approximately 0.27% of DigitalBridge Group worth $7,850,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Parallel Advisors LLC grew its stake in shares of DigitalBridge Group by 70.4% in the first quarter. Parallel Advisors LLC now owns 1,891 shares of the company's stock worth $29,000 after acquiring an additional 781 shares during the period. Handelsbanken Fonder AB boosted its holdings in DigitalBridge Group by 3.0% in the fourth quarter. Handelsbanken Fonder AB now owns 37,500 shares of the company's stock worth $575,000 after purchasing an additional 1,100 shares during the last quarter. Cetera Investment Advisers boosted its holdings in DigitalBridge Group by 4.4% in the fourth quarter. Cetera Investment Advisers now owns 28,921 shares of the company's stock worth $444,000 after purchasing an additional 1,214 shares during the last quarter. Cerity Partners LLC grew its position in DigitalBridge Group by 2.5% in the 4th quarter. Cerity Partners LLC now owns 53,055 shares of the company's stock worth $814,000 after purchasing an additional 1,274 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in DigitalBridge Group by 12.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company's stock worth $122,000 after purchasing an additional 1,309 shares during the period. Institutional investors own 92.69% of the company's stock.

DigitalBridge Group Stock Down 0.1%

Shares of NYSE:DBRG opened at $15.90 on Friday. The stock has a market capitalization of $2.98 billion, a PE ratio of 10.33 and a beta of 1.47. The firm's 50 day moving average price is $15.88 and its 200-day moving average price is $15.68. DigitalBridge Group, Inc. has a twelve month low of $8.94 and a twelve month high of $15.98.

DigitalBridge Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.01 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.3%. DigitalBridge Group's dividend payout ratio (DPR) is presently 2.60%.

Wall Street Analyst Weigh In

DBRG has been the subject of a number of research reports. Weiss Ratings lowered shares of DigitalBridge Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, August 31st. Wall Street Zen raised DigitalBridge Group to a "hold" rating in a report on Saturday, September 5th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, DigitalBridge Group has a consensus rating of "Hold" and an average price target of $16.00.

DigitalBridge Group Company Profile

DigitalBridge Group, Inc NYSE: DBRG is an investment management firm focused on digital infrastructure. Through its investment management platform, the company invests in and manages assets that support the digital economy, including data centers, wireless infrastructure, fiber networks, small-cell systems and edge infrastructure.

DigitalBridge serves infrastructure owners, technology companies, communications providers and other institutional investors by providing investment management and asset management services.

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.