DigitalBridge Group (NYSE:DBRG) Price Target Cut to $19.00

DigitalBridge Group (NYSE:DBRG) had its target price cut by investment analysts at Raymond James from $22.00 to $19.00 in a report released on Thursday, Benzinga reports. The firm currently has a “strong-buy” rating on the stock. Raymond James’ target price would suggest a potential upside of 51.03% from the stock’s previous close.

Several other research analysts have also recently issued reports on DBRG. JPMorgan Chase & Co. lowered their target price on shares of DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Keefe, Bruyette & Woods dropped 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. Royal Bank of Canada reissued an “outperform” rating and issued a $19.00 target price on shares of DigitalBridge Group in a report on Wednesday, July 3rd. Wells Fargo & Company decreased their target price on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, B. Riley cut their price target on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $19.59.

DigitalBridge Group Trading Down 3.4 %

Shares of DBRG stock traded down $0.44 on Thursday, reaching $12.58. 2,847,227 shares of the stock were exchanged, compared to its average volume of 2,153,190. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 8.12, a PEG ratio of 1.38 and a beta of 2.00. The business’s 50 day moving average price is $13.35 and its 200 day moving average price is $16.07. DigitalBridge Group has a twelve month low of $12.12 and a twelve month high of $20.99.

Hedge Funds Weigh In On DigitalBridge Group

Institutional investors have recently bought and sold shares of the company. nVerses Capital LLC increased its position 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 during the period. Quarry LP purchased a new position in DigitalBridge Group in the fourth quarter worth $41,000. Headlands Technologies LLC lifted its holdings in DigitalBridge Group by 33,627.3% in the second quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock valued at $102,000 after acquiring an additional 7,398 shares during the period. Federated Hermes Inc. lifted its holdings in DigitalBridge Group by 944.8% in the second quarter. Federated Hermes Inc. now owns 10,166 shares of the company’s stock valued at $139,000 after acquiring an additional 9,193 shares during the period. Finally, CWM LLC boosted its position in shares of DigitalBridge Group by 59.9% during the 4th quarter. CWM LLC now owns 8,371 shares of the company’s stock worth $147,000 after purchasing an additional 3,135 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

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.