Peregrine Capital Management LLC Grows Position in DigitalBridge Group, Inc. $DBRG

Peregrine Capital Management LLC boosted its stake in DigitalBridge Group, Inc. (NYSE:DBRG) by 22.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 759,909 shares of the company’s stock after purchasing an additional 137,793 shares during the quarter. Peregrine Capital Management LLC owned about 0.43% of DigitalBridge Group worth $7,865,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Spire Wealth Management grew its holdings in DigitalBridge Group by 91.1% in the first quarter. Spire Wealth Management now owns 6,208 shares of the company’s stock valued at $55,000 after purchasing an additional 2,960 shares during the period. US Bancorp DE grew its stake in DigitalBridge Group by 187.3% during the first quarter. US Bancorp DE now owns 6,265 shares of the company’s stock worth $55,000 after buying an additional 4,084 shares during the period. Headlands Technologies LLC grew its stake in DigitalBridge Group by 200.5% during the first quarter. Headlands Technologies LLC now owns 8,774 shares of the company’s stock worth $77,000 after buying an additional 5,854 shares during the period. NCM Capital Management LLC acquired a new position in shares of DigitalBridge Group during the first quarter worth $92,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of DigitalBridge Group during the first quarter worth $93,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

DigitalBridge Group Stock Up 2.4%

Shares of DBRG opened at $12.76 on Tuesday. The firm has a 50-day moving average price of $11.85 and a 200 day moving average price of $10.73. The firm has a market capitalization of $2.32 billion, a PE ratio of -318.88 and a beta of 1.66. DigitalBridge Group, Inc. has a 52-week low of $6.41 and a 52-week high of $17.33.

DigitalBridge Group (NYSE:DBRG) last announced its earnings results on Thursday, March 21st. The company reported ($0.07) earnings per share (EPS) for the quarter. The company had revenue of $232.83 million during the quarter. DigitalBridge Group had a net margin of 18.57% and a return on equity of 4.14%. On average, equities analysts expect that DigitalBridge Group, Inc. will post 0.17 EPS for the current year.

DigitalBridge Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Tuesday, September 30th. DigitalBridge Group’s dividend payout ratio is presently -100.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of DigitalBridge Group in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price target on shares of DigitalBridge Group from $10.50 to $11.00 and gave the company a “market perform” rating in a report on Tuesday, August 12th. Wall Street Zen raised shares of DigitalBridge Group from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Zacks Research lowered shares of DigitalBridge Group from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Finally, Truist Financial boosted their target price on shares of DigitalBridge Group from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.14.

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.