Otter Creek Advisors LLC Takes $1.49 Million Position in DigitalBridge Group, Inc. (NYSE:DBRG)

Otter Creek Advisors LLC purchased a new stake in DigitalBridge Group, Inc. (NYSE:DBRGFree Report) in the 4th quarter, HoldingsChannel reports. The fund purchased 85,083 shares of the company’s stock, valued at approximately $1,493,000.

Several other hedge funds have also bought and sold shares of the business. Thornburg Investment Management Inc. increased its position in shares of DigitalBridge Group by 61.8% during the fourth quarter. Thornburg Investment Management Inc. now owns 683,817 shares of the company’s stock valued at $11,994,000 after buying an additional 261,080 shares during the period. Pacer Advisors Inc. purchased a new stake in shares of DigitalBridge Group during the fourth quarter valued at approximately $19,351,000. Vanguard Group Inc. boosted its stake in shares of DigitalBridge Group by 0.4% during the third quarter. Vanguard Group Inc. now owns 23,377,984 shares of the company’s stock valued at $410,985,000 after purchasing an additional 83,381 shares during the period. Raymond James & Associates boosted its stake in shares of DigitalBridge Group by 311.5% during the fourth quarter. Raymond James & Associates now owns 469,647 shares of the company’s stock valued at $8,238,000 after purchasing an additional 355,524 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in shares of DigitalBridge Group during the third quarter valued at approximately $47,948,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

DigitalBridge Group Stock Down 0.4 %

Shares of NYSE DBRG traded down $0.06 during trading on Friday, reaching $13.64. The company had a trading volume of 3,496,434 shares, compared to its average volume of 2,314,013. DigitalBridge Group, Inc. has a 12-month low of $12.21 and a 12-month high of $20.99. The stock has a market cap of $2.37 billion, a PE ratio of 8.80 and a beta of 1.95. The business’s 50-day moving average is $16.20 and its 200 day moving average is $17.45.

DigitalBridge Group (NYSE:DBRGGet Free Report) last released its earnings results on Tuesday, April 30th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). DigitalBridge Group had a return on equity of 3.14% and a net margin of 26.64%. The company had revenue of $74.39 million during the quarter, compared to analysts’ expectations of $100.76 million. On average, analysts anticipate that DigitalBridge Group, Inc. will post 0.25 earnings per share for the current year.

DigitalBridge Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Sunday, June 30th will be paid a $0.01 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.29%. DigitalBridge Group’s dividend payout ratio is currently 2.58%.

Analysts Set New Price Targets

A number of brokerages recently commented on DBRG. Truist Financial decreased their target price on DigitalBridge Group from $22.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. JPMorgan Chase & Co. decreased their target price on DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, DigitalBridge Group presently has a consensus rating of “Buy” and a consensus price target of $21.25.

View Our Latest Stock Report on DBRG

DigitalBridge Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for DigitalBridge Group (NYSE:DBRG)

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