DigitalBridge Group (NYSE:DBRG) Sets New 52-Week High – What’s Next?

DigitalBridge Group, Inc. (NYSE:DBRG)’s share price reached a new 52-week high on Monday . The company traded as high as $15.92 and last traded at $15.90, with a volume of 1808 shares. The stock had previously closed at $15.90.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DBRG. Weiss Ratings restated a “hold (c)” rating on shares of DigitalBridge Group in a research report on Friday, May 29th. Truist Financial initiated coverage on DigitalBridge Group in a research report on Tuesday, March 31st. They issued a “buy” rating and a $16.00 price target for the company. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, DigitalBridge Group presently has an average rating of “Hold” and an average price target of $16.00.

DigitalBridge Group Stock Performance

The company has a market cap of $2.89 billion, a P/E ratio of 32.34 and a beta of 1.46. The business’s fifty day moving average is $15.74 and its two-hundred day moving average is $15.56.

Institutional Trading of DigitalBridge Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC grew its stake in DigitalBridge Group by 305.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,760 shares of the company’s stock worth $27,000 after purchasing an additional 1,326 shares in the last quarter. Parallel Advisors LLC raised its position in DigitalBridge Group by 70.4% during the 1st quarter. Parallel Advisors LLC now owns 1,891 shares of the company’s stock valued at $29,000 after purchasing an additional 781 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in DigitalBridge Group during the 4th quarter valued at $31,000. Beaird Harris Wealth Management LLC bought a new stake in DigitalBridge Group during the 4th quarter valued at $31,000. Finally, Quarry LP lifted its holdings in shares of DigitalBridge Group by 1,467.2% in the 4th quarter. Quarry LP now owns 2,053 shares of the company’s stock worth $31,000 after buying an additional 1,922 shares during the period. Institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Company Profile

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.