DigitalBridge Group, Inc. (NYSE:DBRG) Shares Sold by Avenir Corp

Avenir Corp cut its stake in DigitalBridge Group, Inc. (NYSE:DBRG) by 1.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,263,226 shares of the company’s stock after selling 32,340 shares during the quarter. DigitalBridge Group makes up 5.4% of Avenir Corp’s portfolio, making the stock its 8th biggest holding. Avenir Corp owned 1.88% of DigitalBridge Group worth $62,882,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in DigitalBridge Group in the fourth quarter valued at approximately $31,651,000. Dimensional Fund Advisors LP boosted its holdings in DigitalBridge Group by 260.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,302,941 shares of the company’s stock worth $22,854,000 after purchasing an additional 941,662 shares in the last quarter. Lazard Asset Management LLC bought a new stake in DigitalBridge Group in the first quarter worth $9,661,000. Azora Capital LP increased its position in DigitalBridge Group by 127.4% during the fourth quarter. Azora Capital LP now owns 662,775 shares of the company’s stock worth $11,625,000 after buying an additional 371,357 shares during the last quarter. Finally, Raymond James & Associates raised its holdings in DigitalBridge Group by 311.5% during the fourth quarter. Raymond James & Associates now owns 469,647 shares of the company’s stock valued at $8,238,000 after buying an additional 355,524 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

DigitalBridge Group Stock Down 0.3 %

DigitalBridge Group stock traded down $0.04 during mid-day trading on Tuesday, reaching $14.12. The company had a trading volume of 692,747 shares, compared to its average volume of 2,152,845. The company has a 50 day moving average of $13.39 and a 200-day moving average of $16.36. DigitalBridge Group, Inc. has a 52 week low of $12.12 and a 52 week high of $20.99. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 1.42 and a beta of 2.00.

DigitalBridge Group (NYSE:DBRG) last released its earnings results on Tuesday, April 30th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.03). DigitalBridge Group had a net margin of 26.64% and a return on equity of 3.14%. The company had revenue of $74.39 million during the quarter, compared to the consensus estimate of $100.76 million. On average, analysts predict that DigitalBridge Group, Inc. will post 0.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on DBRG shares. Keefe, Bruyette & Woods lowered their price objective on DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating on the stock in a report on Tuesday, June 18th. Truist Financial lowered their price target on DigitalBridge Group from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. B. Riley reduced their price objective on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $19.00 target price on shares of DigitalBridge Group in a research note on Wednesday, July 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $17.00 target price (down previously from $21.00) on shares of DigitalBridge Group in a research report on Tuesday, June 18th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $20.54.

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.