DigitalBridge Group (NYSE:DBRG) Shares Gap Down – Time to Sell?

DigitalBridge Group, Inc. (NYSE:DBRG)’s share price gapped down prior to trading on Friday . The stock had previously closed at $15.69, but opened at $13.58. DigitalBridge Group shares last traded at $12.72, with a volume of 829,037 shares.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company lowered their price target on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. B. Riley cut their price target on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. JPMorgan Chase & Co. raised their price objective on shares of DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Finally, Truist Financial cut their price objective on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, DigitalBridge Group presently has an average rating of “Buy” and an average target price of $19.22.

DigitalBridge Group Trading Down 15.9 %

The stock has a market cap of $2.30 billion, a P/E ratio of 6.01, a price-to-earnings-growth ratio of 2.84 and a beta of 1.95. The business’s fifty day simple moving average is $14.31 and its 200 day simple moving average is $14.04.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). DigitalBridge Group had a return on equity of 4.49% and a net margin of 35.10%. The firm had revenue of $390.34 million during the quarter, compared to analyst estimates of $97.05 million. On average, analysts predict that DigitalBridge Group, Inc. will post 0.16 earnings per share for the current fiscal year.

DigitalBridge Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date was Monday, September 30th. DigitalBridge Group’s dividend payout ratio (DPR) is presently 1.88%.

Institutional Investors Weigh In On DigitalBridge Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC raised its position in DigitalBridge Group by 633.3% during the second quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock worth $30,000 after acquiring an additional 1,900 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of DigitalBridge Group during the 3rd quarter worth $35,000. Blue Trust Inc. grew its stake in shares of DigitalBridge Group by 179.2% during the third quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock worth $51,000 after buying an additional 2,408 shares during the last quarter. Headlands Technologies LLC increased its stake in shares of 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 buying an additional 7,398 shares during the period. Finally, Xponance Inc. bought a new stake in shares of DigitalBridge Group during the 2nd quarter valued at about $138,000. 92.69% of the stock is currently 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.