ABC Arbitrage SA Invests $6.72 Million in DigitalBridge Group, Inc. $DBRG

ABC Arbitrage SA acquired a new position in DigitalBridge Group, Inc. (NYSE:DBRG) during the 4th quarter, Holdings Channel reports. The fund acquired 438,191 shares of the company’s stock, valued at approximately $6,722,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in DigitalBridge Group in the 4th quarter valued at approximately $43,000. Tema Etfs LLC purchased a new stake in DigitalBridge Group in the fourth quarter valued at approximately $50,000. State of Alaska Department of Revenue acquired a new position in DigitalBridge Group during the third quarter worth approximately $84,000. Captrust Financial Advisors purchased a new position in DigitalBridge Group during the second quarter worth approximately $109,000. Finally, NEOS Investment Management LLC purchased a new position in DigitalBridge Group during the third quarter worth approximately $117,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

DigitalBridge Group Price Performance

DBRG opened at $15.65 on Tuesday. DigitalBridge Group, Inc. has a 12-month low of $8.94 and a 12-month high of $15.66. The stock has a market capitalization of $2.85 billion, a PE ratio of 31.93 and a beta of 1.49. The firm’s fifty day moving average price is $15.49 and its 200 day moving average price is $14.19.

DigitalBridge Group Dividend Announcement

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 paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, June 30th. DigitalBridge Group’s dividend payout ratio is 8.16%.

Analyst Ratings Changes

A number of research firms have recently commented on DBRG. Truist Financial began coverage on DigitalBridge Group in a report on Tuesday, March 31st. They set a “buy” rating and a $16.00 price objective for the company. Raymond James Financial downgraded shares of DigitalBridge Group from a “strong-buy” rating to an “underperform” rating in a research report on Tuesday, January 27th. Finally, Weiss Ratings upgraded shares of DigitalBridge Group from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, March 2nd. 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. According to data from MarketBeat.com, DigitalBridge Group currently has a consensus rating of “Hold” and a consensus price target of $16.00.

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.