DigitalBridge Group (NYSE:DBRG) Shares Down 5% After Analyst Downgrade

DigitalBridge Group, Inc. (NYSE:DBRG) shares traded down 5% during mid-day trading on Monday after Wells Fargo & Company lowered their price target on the stock from $18.00 to $16.00. Wells Fargo & Company currently has an overweight rating on the stock. DigitalBridge Group traded as low as $12.69 and last traded at $12.74. 1,649,231 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 2,312,324 shares. The stock had previously closed at $13.41.

A number of other equities analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Truist Financial reduced their price target on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. JPMorgan Chase & Co. upped their price objective on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Raymond James reduced their target price on DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating on the stock in a research report on Thursday, August 8th. Finally, B. Riley lowered their price target on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $18.97.

Institutional Investors Weigh In On DigitalBridge Group

Large investors have recently added to or reduced their stakes in the business. nVerses Capital LLC grew its stake in DigitalBridge Group by 633.3% during the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock worth $30,000 after purchasing an additional 1,900 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of DigitalBridge Group during the third quarter worth about $35,000. Blue Trust Inc. grew its position in shares of DigitalBridge Group by 179.2% during the third quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock worth $51,000 after buying an additional 2,408 shares in the last quarter. Headlands Technologies LLC increased its stake in shares of DigitalBridge Group by 33,627.3% during the second quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock worth $102,000 after buying an additional 7,398 shares during the period. Finally, Xponance Inc. purchased a new position in DigitalBridge Group in the second quarter worth approximately $138,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

DigitalBridge Group Trading Down 6.3 %

The firm’s fifty day simple moving average is $14.32 and its 200 day simple moving average is $13.92. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 2.76 and a beta of 1.94.

DigitalBridge Group (NYSE:DBRG) last issued its earnings results on Wednesday, August 7th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). DigitalBridge Group had a return on equity of 4.49% and a net margin of 35.10%. The firm had revenue of $390.34 million for the quarter, compared to analyst estimates of $97.05 million. As a group, sell-side analysts expect that DigitalBridge Group, Inc. will post 0.16 EPS for the current year.

DigitalBridge Group Company Profile

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.