DigitalBridge Group (NYSE:DBRG) Raised to “Hold” at Wall Street Zen

DigitalBridge Group (NYSE:DBRG) was upgraded by stock analysts at Wall Street Zen to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings downgraded DigitalBridge Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, August 31st. One research 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $16.00.

DigitalBridge Group Price Performance

NYSE:DBRG opened at $15.93 on Friday. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 10.34 and a beta of 1.47. DigitalBridge Group has a 1 year low of $8.94 and a 1 year high of $15.98. The business has a 50 day simple moving average of $15.86 and a 200-day simple moving average of $15.66.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in DigitalBridge Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 17,351,817 shares of the company’s stock valued at $266,177,000 after buying an additional 116,360 shares during the period. Pentwater Capital Management LP purchased a new position in shares of DigitalBridge Group during the fourth quarter worth approximately $176,410,000. Kryger Capital LLC bought a new stake in shares of DigitalBridge Group during the first quarter valued at approximately $102,736,000. KRYGER CAPITAL Ltd bought a new stake in shares of DigitalBridge Group during the fourth quarter valued at approximately $75,234,000. Finally, New South Capital Management Inc. boosted its holdings 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 valued at $70,131,000 after purchasing an additional 794,434 shares during the period. Hedge funds and other institutional investors 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.