Jennison Associates LLC Purchases New Position in DigitalBridge Group, Inc. (NYSE:DBRG)

Jennison Associates LLC purchased a new stake in DigitalBridge Group, Inc. (NYSE:DBRG) in the 4th quarter, HoldingsChannel reports. The firm purchased 44,825 shares of the company’s stock, valued at approximately $506,000.

Several other institutional investors and hedge funds have also recently modified their holdings of DBRG. Potrero Capital Research LLC purchased a new position in shares of DigitalBridge Group in the 3rd quarter valued at about $20,201,000. Massachusetts Financial Services Co. MA increased its stake in DigitalBridge Group by 27.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,640,632 shares of the company’s stock worth $51,442,000 after buying an additional 791,506 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in DigitalBridge Group during the 3rd quarter worth approximately $9,757,000. Clearline Capital LP purchased a new stake in DigitalBridge Group during the 3rd quarter worth approximately $7,468,000. Finally, Azora Capital LP purchased a new stake in DigitalBridge Group during the 3rd quarter worth approximately $7,303,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Stock Performance

DBRG opened at $10.78 on Friday. DigitalBridge Group, Inc. has a one year low of $10.24 and a one year high of $20.99. The stock has a market capitalization of $1.88 billion, a PE ratio of 14.77, a P/E/G ratio of 2.97 and a beta of 1.91. The business’s 50 day moving average price is $11.39 and its 200 day moving average price is $12.84.

Wall Street Analysts Forecast Growth

Several research firms have commented on DBRG. JPMorgan Chase & Co. cut their price objective on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. Truist Financial cut their price objective on DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. B. Riley cut their price objective on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Wells Fargo & Company lowered their target price on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Finally, JMP Securities began coverage on DigitalBridge Group in a report on Monday, January 27th. They set an “outperform” rating and a $16.00 target price on the stock. 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, the company presently has a consensus rating of “Buy” and an average target price of $16.67.

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.