DigitalBridge Group (NYSE:DBRG) Sets New 52-Week High – Here’s What Happened

DigitalBridge Group, Inc. (NYSE:DBRG)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $15.92 and last traded at $15.90, with a volume of 1808 shares changing hands. The stock had previously closed at $15.90.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Truist Financial started coverage on DigitalBridge Group in a research report on Tuesday, March 31st. They set a “buy” rating and a $16.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DigitalBridge Group in a research report on Friday, May 29th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $16.00.

DigitalBridge Group Stock Performance

The business has a fifty day moving average of $15.74 and a two-hundred day moving average of $15.55. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 32.45 and a beta of 1.46.

Hedge Funds Weigh In On DigitalBridge Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in DBRG. Steward Partners Investment Advisory LLC raised its position in shares of DigitalBridge Group by 305.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,760 shares of the company’s stock worth $27,000 after acquiring an additional 1,326 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of DigitalBridge Group by 70.4% in the 1st 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 period. Beaird Harris Wealth Management LLC acquired a new position in DigitalBridge Group during the 4th quarter worth approximately $31,000. Atlantic Union Bankshares Corp bought a new position in DigitalBridge Group in the fourth quarter worth approximately $31,000. Finally, Quarry LP increased its stake in DigitalBridge Group by 1,467.2% during the 4th quarter. Quarry LP now owns 2,053 shares of the company’s stock valued at $31,000 after purchasing an additional 1,922 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

DigitalBridge Group Company 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.