Stock Traders Buy Large Volume of DigitalBridge Group Call Options (NYSE:DBRG)

DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report) was the recipient of unusually large options trading on Tuesday. Stock traders acquired 5,185 call options on the company. This is an increase of approximately 69% compared to the typical volume of 3,074 call options.

DigitalBridge Group Trading Up 0.7%

Shares of DBRG stock traded up $0.08 on Wednesday, reaching $10.76. The company's stock had a trading volume of 724,374 shares, compared to its average volume of 2,577,058. The stock's fifty day simple moving average is $9.31 and its 200-day simple moving average is $10.36. DigitalBridge Group has a 1 year low of $6.41 and a 1 year high of $17.33. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 357.67, a price-to-earnings-growth ratio of 3.46 and a beta of 1.72.

DigitalBridge Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Monday, June 30th. DigitalBridge Group's dividend payout ratio is 13.33%.

Institutional Trading of DigitalBridge Group

Several hedge funds have recently made changes to their positions in the business. Sunbelt Securities Inc. raised its holdings in DigitalBridge Group by 109.9% during the 4th quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company's stock valued at $31,000 after buying an additional 1,464 shares during the period. Spire Wealth Management bought a new stake in shares of DigitalBridge Group during the fourth quarter valued at approximately $37,000. Point72 Hong Kong Ltd purchased a new stake in shares of DigitalBridge Group in the fourth quarter valued at approximately $39,000. GAMMA Investing LLC grew its stake 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 purchasing an additional 4,033 shares in the last quarter. Finally, Manchester Capital Management LLC increased its holdings in DigitalBridge Group by 172.1% during the 4th quarter. Manchester Capital Management LLC now owns 4,372 shares of the company's stock worth $49,000 after purchasing an additional 2,765 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on DBRG. Wells Fargo & Company increased their target price on DigitalBridge Group from $15.00 to $16.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. Truist Financial increased their price objective on shares of DigitalBridge Group from $13.00 to $15.00 and gave the company a "buy" rating in a report on Tuesday, June 3rd. Keefe, Bruyette & Woods lowered their target price on shares of DigitalBridge Group from $13.50 to $10.50 and set a "market perform" rating on the stock in a report on Tuesday, May 6th. JMP Securities restated a "market outperform" rating and set a $16.00 target price on shares of DigitalBridge Group in a research report on Friday, May 16th. Finally, Wall Street Zen downgraded shares of DigitalBridge Group from a "hold" rating to a "sell" rating in a report on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.28.

DigitalBridge Group Company 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.