DigitalBridge Group (NYSE:DBRG) Reaches New 1-Year High – What’s Next?

DigitalBridge Group, Inc. (NYSE:DBRG)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $15.92 and last traded at $15.9150, with a volume of 983355 shares traded. The stock had previously closed at $15.87.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of DigitalBridge Group in a report on Friday, May 29th. One analyst has rated the stock with a Buy rating, seven have issued 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 an average target price of $16.00.

DigitalBridge Group Stock Up 0.4%

The firm’s 50-day moving average price is $15.76 and its 200 day moving average price is $15.58. The company has a market capitalization of $2.91 billion, a P/E ratio of 32.52 and a beta of 1.47.

Hedge Funds Weigh In On DigitalBridge Group

Hedge funds have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC raised its stake in shares of DigitalBridge Group by 305.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,760 shares of the company’s stock worth $27,000 after purchasing an additional 1,326 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of DigitalBridge Group by 70.4% in the first quarter. Parallel Advisors LLC now owns 1,891 shares of the company’s stock valued at $29,000 after purchasing an additional 781 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new position in shares of DigitalBridge Group during the fourth quarter valued at approximately $31,000. Beaird Harris Wealth Management LLC purchased a new position in shares of DigitalBridge Group during the fourth quarter valued at approximately $31,000. Finally, Quarry LP grew its holdings in DigitalBridge Group by 1,467.2% during the fourth quarter. Quarry LP now owns 2,053 shares of the company’s stock worth $31,000 after buying an additional 1,922 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.