DigitalBridge Group, Inc. (NYSE:DBRG) Short Interest Up 12.1% in August

DigitalBridge Group, Inc. (NYSE:DBRG) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 15,050,000 shares, an increase of 12.1% from the August 15th total of 13,430,000 shares. Based on an average daily volume of 1,870,000 shares, the days-to-cover ratio is currently 8.0 days. Approximately 8.8% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. grew its holdings in DigitalBridge Group by 4.1% during the 2nd quarter. Victory Capital Management Inc. now owns 22,165 shares of the company’s stock valued at $304,000 after buying an additional 870 shares during the last quarter. Arizona State Retirement System raised its stake in DigitalBridge Group by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 45,735 shares of the company’s stock valued at $627,000 after purchasing an additional 872 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of DigitalBridge Group by 7.2% during the 4th quarter. Teacher Retirement System of Texas now owns 13,399 shares of the company’s stock worth $235,000 after purchasing an additional 905 shares during the last quarter. King Luther Capital Management Corp boosted its stake in shares of DigitalBridge Group by 1.3% during the 2nd quarter. King Luther Capital Management Corp now owns 71,038 shares of the company’s stock worth $973,000 after purchasing an additional 942 shares during the last quarter. Finally, nVerses Capital LLC grew its stake in DigitalBridge Group by 633.3% in the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock worth $30,000 after acquiring an additional 1,900 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

DigitalBridge Group Price Performance

NYSE DBRG opened at $14.09 on Wednesday. The business has a 50 day moving average price of $13.07 and a 200 day moving average price of $14.74. The company has a market capitalization of $2.45 billion, a P/E ratio of 9.09, a PEG ratio of 1.78 and a beta of 1.96. DigitalBridge Group has a 1-year low of $11.07 and a 1-year high of $20.99.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). DigitalBridge Group had a net margin of 35.10% and a return on equity of 4.49%. The firm had revenue of $390.34 million during the quarter, compared to analysts’ expectations of $97.05 million. On average, research analysts expect that DigitalBridge Group will post 0.2 earnings per share for the current fiscal year.

DigitalBridge Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Monday, September 30th. DigitalBridge Group’s payout ratio is currently 2.58%.

Analyst Ratings Changes

Several equities analysts have issued reports on DBRG shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Raymond James cut their price target on shares of DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating for the company in a report on Thursday, August 8th. Truist Financial cut their target price on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Wells Fargo & Company reduced their price target on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods dropped their price objective on DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating on the stock in a report on Tuesday, June 18th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $19.22.

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.