DigitalBridge Group (NYSE:DBRG) Reaches New 1-Year Low – Here’s Why

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) reached a new 52-week low 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.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Keefe, Bruyette & Woods downgraded DigitalBridge Group from an “outperform” rating to a “market perform” rating and cut their price target for the company from $17.75 to $14.00 in a research note on Wednesday, November 6th. Truist Financial dropped their price objective on DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Raymond James dropped their price objective on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 5th. Wells Fargo & Company dropped their price objective on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, B. Riley dropped their price objective on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $16.67.

DigitalBridge Group Stock Up 1.2 %

The firm has a market capitalization of $1.91 billion, a P/E ratio of 15.05, a PEG ratio of 2.83 and a beta of 1.91. The firm has a 50 day moving average of $11.64 and a 200-day moving average of $12.98.

Institutional Investors Weigh In On DigitalBridge Group

Institutional investors have recently made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of 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 buying an additional 271,853 shares during the period. Geode Capital Management LLC raised its position in DigitalBridge Group by 8.3% during the third quarter. Geode Capital Management LLC now owns 4,167,413 shares of the company’s stock valued at $58,895,000 after purchasing an additional 317,776 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in DigitalBridge Group by 101.9% during the third 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 acquired a new position in DigitalBridge Group during the third quarter valued at approximately $6,538,000. Finally, Rockefeller Capital Management L.P. raised its position in DigitalBridge Group by 482.6% during the third quarter. Rockefeller Capital Management L.P. now owns 144,772 shares of the company’s stock valued at $2,046,000 after purchasing an additional 119,922 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

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.