Blue Grotto Capital LLC Makes New Investment in DigitalBridge Group, Inc. $DBRG

Blue Grotto Capital LLC purchased a new position in DigitalBridge Group, Inc. (NYSE:DBRG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,000,000 shares of the company’s stock, valued at approximately $30,680,000. DigitalBridge Group accounts for 3.2% of Blue Grotto Capital LLC’s investment portfolio, making the stock its 17th biggest position.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of DigitalBridge Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 17,351,817 shares of the company’s stock worth $266,177,000 after purchasing an additional 116,360 shares during the period. Portolan Capital Management LLC boosted its position in shares of DigitalBridge Group by 77.4% in the third quarter. Portolan Capital Management LLC now owns 5,468,226 shares of the company’s stock worth $63,978,000 after purchasing an additional 2,386,066 shares during the period. New South Capital Management Inc. boosted its position in shares of DigitalBridge Group by 21.0% in the fourth quarter. New South Capital Management Inc. now owns 4,571,797 shares of the company’s stock worth $70,131,000 after purchasing an additional 794,434 shares during the period. Geode Capital Management LLC boosted its position in shares of DigitalBridge Group by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 4,082,778 shares of the company’s stock worth $62,640,000 after purchasing an additional 104,773 shares during the period. Finally, Invesco Ltd. boosted its position in shares of DigitalBridge Group by 5.5% in the third quarter. Invesco Ltd. now owns 4,049,310 shares of the company’s stock worth $47,377,000 after purchasing an additional 212,361 shares during the period. 92.69% of the stock is currently owned by institutional investors.

DigitalBridge Group Stock Performance

DBRG stock opened at $15.72 on Tuesday. DigitalBridge Group, Inc. has a one year low of $8.94 and a one year high of $15.76. The company’s fifty day moving average price is $15.63 and its 200-day moving average price is $15.02. The company has a market capitalization of $2.87 billion, a PE ratio of 32.07 and a beta of 1.48.

DigitalBridge Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, June 30th. DigitalBridge Group’s payout ratio is 8.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of DigitalBridge Group in a research report on Friday, May 29th. Truist Financial assumed coverage on shares of DigitalBridge Group in a research report on Tuesday, March 31st. They issued a “buy” rating and a $16.00 price target for the company. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, DigitalBridge Group has a consensus rating of “Hold” and a consensus target price of $16.00.

DigitalBridge Group Profile

DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.