Investors Purchase Large Volume of Call Options on DigitalBridge Group (NYSE:DBRG)

DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report) was the target of unusually large options trading on Tuesday. Investors purchased 5,185 call options on the stock. This represents an increase of 69% compared to the average daily volume of 3,074 call options.

Hedge Funds Weigh In On DigitalBridge Group

Several hedge funds have recently bought and sold shares of DBRG. Strs Ohio acquired a new stake in shares of DigitalBridge Group in the first quarter valued at about $262,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of DigitalBridge Group by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 392,094 shares of the company's stock valued at $3,458,000 after purchasing an additional 21,930 shares during the last quarter. Clearline Capital LP grew its position in shares of DigitalBridge Group by 189.8% in the first quarter. Clearline Capital LP now owns 2,286,782 shares of the company's stock valued at $20,169,000 after purchasing an additional 1,497,664 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of DigitalBridge Group in the first quarter valued at about $347,000. Finally, Goldman Sachs Group Inc. grew its position in shares of DigitalBridge Group by 45.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,225,993 shares of the company's stock valued at $19,633,000 after purchasing an additional 693,613 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

DigitalBridge Group Trading Down 3.5%

DigitalBridge Group stock traded down $0.38 during mid-day trading on Friday, hitting $10.34. 1,824,463 shares of the company's stock were exchanged, compared to its average volume of 2,589,788. The stock has a market cap of $1.82 billion, a P/E ratio of 344.50, a P/E/G ratio of 3.46 and a beta of 1.72. DigitalBridge Group has a 1-year low of $6.41 and a 1-year high of $17.33. The stock has a 50 day moving average of $9.52 and a two-hundred day moving average of $10.33.

DigitalBridge Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 yield of 0.39%. The ex-dividend date is Monday, June 30th. DigitalBridge Group's payout ratio is 13.33%.

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.