DigitalBridge Group (NYSE:DBRG) Reaches New 52-Week Low – Here’s Why

DigitalBridge Group, Inc. (NYSE:DBRG) hit a new 52-week low during trading on Wednesday . The company traded as low as $10.24 and last traded at $10.39, with a volume of 1314357 shares trading hands. The stock had previously closed at $10.46.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Citizens Jmp upgraded shares of DigitalBridge Group to a “strong-buy” rating in a research report on Monday. B. Riley dropped their price target on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. JMP Securities started coverage on DigitalBridge Group in a research report on Monday. They issued an “outperform” rating and a $16.00 price objective on the stock. Keefe, Bruyette & Woods downgraded shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and cut their target price for the company from $17.75 to $14.00 in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. lowered their price target on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $16.67.

DigitalBridge Group Trading Down 0.1 %

The firm has a market capitalization of $1.82 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 3.10 and a beta of 1.91. The firm has a 50-day moving average of $11.68 and a two-hundred day moving average of $13.01.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in DigitalBridge Group by 24.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,364,524 shares of the company’s stock valued at $19,281,000 after purchasing an additional 271,853 shares during the last quarter. Geode Capital Management LLC increased its position in shares of DigitalBridge Group by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,167,413 shares of the company’s stock worth $58,895,000 after purchasing an additional 317,776 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of DigitalBridge Group by 101.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 314,557 shares of the company’s stock valued at $4,445,000 after purchasing an additional 158,790 shares in the last quarter. Horizon Kinetics Asset Management LLC bought a new position in shares of DigitalBridge Group during the third quarter worth about $6,538,000. Finally, Rockefeller Capital Management L.P. grew its stake in DigitalBridge Group by 482.6% in the third quarter. Rockefeller Capital Management L.P. now owns 144,772 shares of the company’s stock worth $2,046,000 after purchasing an additional 119,922 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

About DigitalBridge Group

DigitalBridge is an infrastructure investment firm specializing in digital infrastructure assets. They provide services to institutional investors. They primarily invest in data centers, cell towers, fiber networks, small cells, and edge infrastructure. DigitalBridge Group, Inc was founded in 1991 and is headquartered in Boca Raton, Florida with additional offices in Los Angles, California, and New York New York.