DigitalBridge Group, Inc. (NYSE:DBRG) Sees Large Decline in Short Interest

DigitalBridge Group, Inc. (NYSE:DBRG) saw a significant decrease in short interest in the month of July. As of July 15th, there was short interest totalling 14,090,000 shares, a decrease of 7.8% from the June 30th total of 15,280,000 shares. Approximately 8.2% of the company’s shares are short sold. Based on an average daily trading volume, of 2,360,000 shares, the days-to-cover ratio is presently 6.0 days.

DigitalBridge Group Stock Down 2.1 %

NYSE:DBRG traded down $0.29 during trading hours on Thursday, reaching $13.84. The company had a trading volume of 1,373,736 shares, compared to its average volume of 2,145,216. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 8.92, a P/E/G ratio of 1.40 and a beta of 2.00. The business’s 50-day simple moving average is $13.41 and its two-hundred day simple moving average is $16.34. DigitalBridge Group has a twelve month low of $12.12 and a twelve month high of $20.99.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The business had revenue of $74.39 million for the quarter, compared to analyst estimates of $100.76 million. DigitalBridge Group had a net margin of 26.64% and a return on equity of 3.14%. As a group, equities analysts predict that DigitalBridge Group will post 0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on DBRG shares. B. Riley decreased their price objective 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. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $17.00 price objective (down from $21.00) on shares of DigitalBridge Group in a research report on Tuesday, June 18th. Truist Financial decreased their price objective 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. JPMorgan Chase & Co. decreased their price objective 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, Royal Bank of Canada reiterated an “outperform” rating and set a $19.00 price objective on shares of DigitalBridge Group in a research report on Wednesday, July 3rd. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, DigitalBridge Group has an average rating of “Buy” and an average price target of $20.54.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DBRG. Norges Bank acquired a new position in shares of DigitalBridge Group during the fourth quarter valued at about $31,651,000. Dimensional Fund Advisors LP lifted its position in shares of DigitalBridge Group by 260.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,302,941 shares of the company’s stock valued at $22,854,000 after purchasing an additional 941,662 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of DigitalBridge Group during the first quarter valued at about $9,661,000. Azora Capital LP lifted its position in shares of DigitalBridge Group by 127.4% during the fourth quarter. Azora Capital LP now owns 662,775 shares of the company’s stock valued at $11,625,000 after purchasing an additional 371,357 shares in the last quarter. Finally, Raymond James & Associates lifted its position in shares of DigitalBridge Group by 311.5% during the fourth quarter. Raymond James & Associates now owns 469,647 shares of the company’s stock valued at $8,238,000 after purchasing an additional 355,524 shares in the last quarter. 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.