DigitalBridge Group (NYSE:DBRG) Reaches New 52-Week Low – Here’s Why

DigitalBridge Group, Inc. (NYSE:DBRG)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $10.24 and last traded at $10.39, with a volume of 1314357 shares trading hands. The stock had previously closed at $10.46.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. JMP Securities started coverage on DigitalBridge Group in a report on Monday. They issued an “outperform” rating and a $16.00 price target on the stock. Raymond James lowered their price target on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a research report on Tuesday, November 5th. Truist Financial reduced their target price on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Citizens Jmp upgraded shares of DigitalBridge Group to a “strong-buy” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods lowered shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $17.75 to $14.00 in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, DigitalBridge Group presently has an average rating of “Buy” and an average price target of $16.67.

DigitalBridge Group Trading Down 0.1 %

The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 3.10 and a beta of 1.91. The firm has a fifty day simple moving average of $11.68 and a 200-day simple moving average of $13.01.

Hedge Funds Weigh In On DigitalBridge Group

A number of hedge funds and other institutional investors have recently bought and sold shares of DBRG. Schwartz Investment Counsel Inc. lifted its holdings in DigitalBridge Group by 31.8% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 621,341 shares of the company’s stock worth $7,009,000 after acquiring an additional 150,000 shares in the last quarter. Stoneridge Investment Partners LLC increased its stake in DigitalBridge Group by 22.5% in the 4th quarter. Stoneridge Investment Partners LLC now owns 13,116 shares of the company’s stock valued at $148,000 after buying an additional 2,408 shares during the last quarter. Private Management Group Inc. lifted its position in DigitalBridge Group by 4.5% during the 4th quarter. Private Management Group Inc. now owns 1,483,594 shares of the company’s stock worth $16,735,000 after buying an additional 63,884 shares in the last quarter. Choreo LLC acquired a new position in shares of DigitalBridge Group during the 4th quarter worth about $176,000. Finally, Spirit of America Management Corp NY grew its holdings in shares of DigitalBridge Group by 12.8% in the 4th quarter. Spirit of America Management Corp NY now owns 44,000 shares of the company’s stock valued at $496,000 after acquiring an additional 5,000 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

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.