DigitalBridge Group (NYSE:DBRG) Trading Up 11.6% After Earnings Beat

DigitalBridge Group, Inc. (NYSE:DBRG)’s stock price was up 11.6% during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $12.09 and last traded at $12.00. Approximately 1,164,298 shares changed hands during trading, a decline of 46% from the average daily volume of 2,147,720 shares. The stock had previously closed at $10.75.

The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.08 by $0.03. DigitalBridge Group had a return on equity of 3.58% and a net margin of 21.42%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on DBRG shares. Truist Financial cut their price target on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. JPMorgan Chase & Co. cut their target price on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. JMP Securities started coverage on DigitalBridge Group in a research report on Monday, January 27th. They set an “outperform” rating and a $16.00 price target on the stock. Citizens Jmp raised DigitalBridge Group to a “strong-buy” rating in a report on Monday, January 27th. Finally, Raymond James reduced their price objective on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $16.67.

Institutional Trading of DigitalBridge Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new position in shares of DigitalBridge Group in the 3rd quarter valued at about $34,000. Sunbelt Securities Inc. raised its position in shares of 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 acquiring an additional 1,464 shares during the last quarter. Spire Wealth Management acquired a new position in shares of DigitalBridge Group in the 4th quarter valued at $37,000. Point72 Hong Kong Ltd acquired a new position in shares of DigitalBridge Group in the 4th quarter valued at $39,000. Finally, Blue Trust Inc. boosted its position in shares of DigitalBridge Group by 179.2% in the 3rd quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock worth $51,000 after purchasing an additional 2,408 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

DigitalBridge Group Price Performance

The business has a 50 day moving average of $10.99 and a 200 day moving average of $12.63. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 2.94 and a beta of 1.91.

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.