GABELLI & Co INVESTMENT ADVISERS INC. Purchases 298,200 Shares of DigitalBridge Group, Inc. $DBRG

GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 101.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 592,830 shares of the company’s stock after buying an additional 298,200 shares during the quarter. DigitalBridge Group comprises 1.4% of GABELLI & Co INVESTMENT ADVISERS INC.’s holdings, making the stock its 22nd biggest position. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in DigitalBridge Group were worth $9,141,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of DBRG. Parallel Advisors LLC grew its stake in shares of DigitalBridge Group by 70.4% in the first quarter. Parallel Advisors LLC now owns 1,891 shares of the company’s stock valued at $29,000 after acquiring an additional 781 shares in the last quarter. Handelsbanken Fonder AB raised its stake in DigitalBridge Group by 3.0% in the 4th quarter. Handelsbanken Fonder AB now owns 37,500 shares of the company’s stock worth $575,000 after purchasing an additional 1,100 shares in the last quarter. Cetera Investment Advisers raised its stake in DigitalBridge Group by 4.4% in the 4th quarter. Cetera Investment Advisers now owns 28,921 shares of the company’s stock worth $444,000 after purchasing an additional 1,214 shares in the last quarter. Cerity Partners LLC boosted its holdings in DigitalBridge Group by 2.5% in the 4th quarter. Cerity Partners LLC now owns 53,055 shares of the company’s stock valued at $814,000 after purchasing an additional 1,274 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in DigitalBridge Group by 12.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company’s stock valued at $122,000 after purchasing an additional 1,309 shares during the period. Institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Stock Performance

Shares of NYSE DBRG opened at $15.88 on Friday. The stock has a market capitalization of $2.90 billion, a P/E ratio of 32.42 and a beta of 1.46. The stock’s fifty day moving average is $15.74 and its 200 day moving average is $15.55. DigitalBridge Group, Inc. has a 52 week low of $8.94 and a 52 week high of $15.92.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DigitalBridge Group in a report on Friday, May 29th. Truist Financial assumed coverage on DigitalBridge Group in a research note on Tuesday, March 31st. They issued a “buy” rating and a $16.00 price target for the company. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.00.

About DigitalBridge Group

DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.