Stock Traders Purchase High Volume of DigitalBridge Group Call Options (NYSE:DBRG)

DigitalBridge Group, Inc. (NYSE:DBRG) was the recipient of some unusual options trading activity on Tuesday. Stock traders bought 5,185 call options on the stock. This is an increase of approximately 69% compared to the typical daily volume of 3,074 call options.

Institutional Investors Weigh In On DigitalBridge Group

Large investors have recently bought and sold shares of the stock. Sunbelt Securities Inc. grew its position in shares of DigitalBridge Group by 109.9% during the fourth quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company’s stock worth $31,000 after buying an additional 1,464 shares in the last quarter. Spire Wealth Management acquired a new position in DigitalBridge Group during the 4th quarter worth approximately $37,000. Point72 Hong Kong Ltd purchased a new stake in shares of DigitalBridge Group in the 4th quarter valued at approximately $39,000. Manchester Capital Management LLC increased its position in shares of DigitalBridge Group by 172.1% in the 4th quarter. Manchester Capital Management LLC now owns 4,372 shares of the company’s stock valued at $49,000 after purchasing an additional 2,765 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of DigitalBridge Group by 978.9% in the 1st quarter. GAMMA Investing LLC now owns 4,445 shares of the company’s stock valued at $39,000 after purchasing an additional 4,033 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on DBRG shares. Wall Street Zen lowered DigitalBridge Group from a “hold” rating to a “sell” rating in a research report on Friday. Keefe, Bruyette & Woods reduced their price objective on shares of DigitalBridge Group from $13.50 to $10.50 and set a “market perform” rating on the stock in a report on Tuesday, May 6th. JMP Securities reaffirmed a “market outperform” rating and set a $16.00 target price on shares of DigitalBridge Group in a research note on Friday, May 16th. Truist Financial lifted their price target on shares of DigitalBridge Group from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, June 3rd. Finally, Wells Fargo & Company upped their price objective on shares of DigitalBridge Group from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.28.

DigitalBridge Group Stock Down 0.8%

DigitalBridge Group stock traded down $0.08 during mid-day trading on Tuesday, reaching $10.64. 334,759 shares of the company’s stock were exchanged, compared to its average volume of 2,571,381. DigitalBridge Group has a twelve month low of $6.41 and a twelve month high of $17.33. The company has a market cap of $1.88 billion, a P/E ratio of 354.83, a P/E/G ratio of 3.46 and a beta of 1.72. The company has a fifty day moving average of $9.25 and a 200-day moving average of $10.36.

DigitalBridge Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.01 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.38%. DigitalBridge Group’s dividend payout ratio (DPR) is presently 13.33%.

DigitalBridge Group Company Profile

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.