DigitalBridge Group (NYSE:DBRG) Upgraded to “Hold” at Zacks Research

DigitalBridge Group (NYSE:DBRG) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

A number of other research firms have also recently issued reports on DBRG. Truist Financial boosted their price objective on shares of DigitalBridge Group from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Weiss Ratings reissued a “sell (d+)” rating on shares of DigitalBridge Group in a research note on Wednesday, October 8th. B. Riley upgraded DigitalBridge Group to a “strong-buy” rating in a report on Thursday, October 30th. Keefe, Bruyette & Woods increased their price objective on DigitalBridge Group from $11.00 to $12.50 and gave the stock a “market perform” rating in a report on Monday. Finally, TD Cowen lifted their price objective on DigitalBridge Group from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.93.

DigitalBridge Group Stock Performance

Shares of DBRG stock opened at $10.92 on Wednesday. The company has a market capitalization of $1.99 billion, a P/E ratio of -273.00 and a beta of 1.78. DigitalBridge Group has a fifty-two week low of $6.41 and a fifty-two week high of $14.00. The stock has a 50 day moving average price of $11.97 and a two-hundred day moving average price of $10.95.

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

Hedge Funds Weigh In On DigitalBridge Group

A number of institutional investors have recently added to or reduced their stakes in DBRG. Azora Capital LP purchased a new position in DigitalBridge Group during the second quarter valued at $23,579,000. Clearline Capital LP lifted its position in DigitalBridge Group by 189.8% during the 1st quarter. Clearline Capital LP now owns 2,286,782 shares of the company’s stock valued at $20,169,000 after acquiring an additional 1,497,664 shares during the period. Long Pond Capital LP purchased a new position in DigitalBridge Group during the 2nd quarter valued at about $13,747,000. Frontier Capital Management Co. LLC boosted its stake in DigitalBridge Group by 29.8% during the second quarter. Frontier Capital Management Co. LLC now owns 5,669,342 shares of the company’s stock worth $58,678,000 after acquiring an additional 1,302,150 shares in the last quarter. Finally, DAVENPORT & Co LLC purchased a new stake in DigitalBridge Group in the second quarter worth about $13,351,000. Institutional investors own 92.69% of the company’s stock.

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.