Redwood Investment Management LLC Trims Holdings in DigitalBridge Group, Inc. (NYSE:DBRG)

Redwood Investment Management LLC trimmed its position in DigitalBridge Group, Inc. (NYSE:DBRG) by 7.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,085 shares of the company’s stock after selling 2,783 shares during the period. Redwood Investment Management LLC’s holdings in DigitalBridge Group were worth $638,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DBRG. Vanguard Group Inc. lifted its holdings in shares of DigitalBridge Group by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 23,274,328 shares of the company’s stock worth $448,496,000 after acquiring an additional 256,016 shares during the period. Frontier Capital Management Co. LLC lifted its holdings in shares of DigitalBridge Group by 10.4% during the 4th quarter. Frontier Capital Management Co. LLC now owns 3,550,341 shares of the company’s stock worth $62,273,000 after acquiring an additional 334,381 shares during the period. Wellington Management Group LLP lifted its holdings in shares of DigitalBridge Group by 5.3% during the 4th quarter. Wellington Management Group LLP now owns 2,872,338 shares of the company’s stock worth $50,381,000 after acquiring an additional 144,945 shares during the period. Norges Bank acquired a new stake in DigitalBridge Group during the 4th quarter worth approximately $31,651,000. Finally, Senator Investment Group LP increased its position in DigitalBridge Group by 14.3% during the 1st quarter. Senator Investment Group LP now owns 1,752,003 shares of the company’s stock worth $33,761,000 after purchasing an additional 218,941 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on DBRG. B. Riley dropped their target price on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Truist Financial dropped their target price on shares of DigitalBridge Group from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Keefe, Bruyette & Woods dropped their target price on shares of DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating for the company in a research report on Tuesday, June 18th. JPMorgan Chase & Co. dropped their target price on shares of DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $17.00 price objective (down previously from $21.00) on shares of DigitalBridge Group in a research report on Tuesday, June 18th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, DigitalBridge Group has an average rating of “Buy” and an average price target of $20.54.

DigitalBridge Group Trading Down 1.1 %

NYSE:DBRG traded down $0.16 during trading hours on Thursday, hitting $13.97. The stock had a trading volume of 154,732 shares, compared to its average volume of 2,136,820. The company has a market cap of $2.43 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 1.40 and a beta of 2.00. The business has a 50 day simple moving average of $13.41 and a two-hundred day simple moving average of $16.34. DigitalBridge Group, Inc. has a 1-year low of $12.12 and a 1-year high of $20.99.

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

About DigitalBridge Group

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.