DigitalBridge Group (NYSE:DBRG) Sees Strong Trading Volume – Time to Buy?

DigitalBridge Group, Inc. (NYSE:DBRG) saw strong trading volume on Thursday . Approximately 2,879,328 shares traded hands during mid-day trading, a decline of 19% from the previous session’s volume of 3,539,319 shares.The stock last traded at $15.7750 and had previously closed at $15.75.

Analysts Set New Price Targets

Several research firms have recently issued reports on DBRG. Truist Financial started coverage on DigitalBridge Group in a research note on Tuesday, March 31st. They set a “buy” rating and a $16.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DigitalBridge Group in a research note on Friday, May 29th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $16.00.

DigitalBridge Group Price Performance

The stock’s 50 day moving average is $15.70 and its 200-day moving average is $15.46. The company has a market capitalization of $2.87 billion, a P/E ratio of 32.15 and a beta of 1.46.

DigitalBridge Group Announces Dividend

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

Institutional Trading of DigitalBridge Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Carmignac Gestion purchased a new stake in shares of DigitalBridge Group in the 1st quarter worth approximately $5,696,000. Parallel Advisors LLC raised its stake in DigitalBridge Group by 70.4% during the first quarter. Parallel Advisors LLC now owns 1,891 shares of the company’s stock valued at $29,000 after buying an additional 781 shares during the last quarter. Optiver Holding B.V. boosted its holdings in DigitalBridge Group by 503.7% in the first quarter. Optiver Holding B.V. now owns 11,711 shares of the company’s stock worth $181,000 after acquiring an additional 9,771 shares in the last quarter. Bank of America Corp DE boosted its holdings in DigitalBridge Group by 29.4% in the first quarter. Bank of America Corp DE now owns 2,574,508 shares of the company’s stock worth $39,699,000 after acquiring an additional 584,205 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of DigitalBridge Group by 992.3% in the first quarter. Janus Henderson Group PLC now owns 812,377 shares of the company’s stock worth $12,539,000 after acquiring an additional 738,005 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

About DigitalBridge Group

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.