DigitalBridge Group (NYSE:DBRG) Hits New 52-Week Low – Here’s What Happened

DigitalBridge Group, Inc. (NYSE:DBRG)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $10.20 and last traded at $10.33, with a volume of 199630 shares trading hands. The stock had previously closed at $10.49.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DBRG. B. Riley cut their target price on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lowered their target price on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Raymond James cut their price target on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a report on Tuesday, November 5th. Citizens Jmp upgraded shares of DigitalBridge Group to a “strong-buy” rating in a report on Monday, January 27th. Finally, Wells Fargo & Company dropped their target price on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, DigitalBridge Group has a consensus rating of “Buy” and an average price target of $16.67.

DigitalBridge Group Stock Performance

The stock’s 50 day moving average is $11.29 and its 200 day moving average is $12.77. The company has a market capitalization of $1.80 billion, a PE ratio of 14.17, a PEG ratio of 2.95 and a beta of 1.91.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Pictet Asset Management Holding SA boosted its holdings in DigitalBridge Group by 16.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 25,708 shares of the company’s stock valued at $290,000 after purchasing an additional 3,634 shares during the period. Norges Bank purchased a new stake in shares of DigitalBridge Group in the fourth quarter worth $7,757,000. Homestead Advisers Corp boosted its stake in DigitalBridge Group by 15.8% during the fourth quarter. Homestead Advisers Corp now owns 319,200 shares of the company’s stock valued at $3,601,000 after buying an additional 43,500 shares during the period. Segall Bryant & Hamill LLC grew its position in DigitalBridge Group by 34.3% during the fourth quarter. Segall Bryant & Hamill LLC now owns 1,185,101 shares of the company’s stock worth $13,368,000 after buying an additional 302,590 shares in the last quarter. Finally, Fox Run Management L.L.C. increased its stake in DigitalBridge Group by 193.3% in the 4th quarter. Fox Run Management L.L.C. now owns 56,911 shares of the company’s stock worth $642,000 after acquiring an additional 37,506 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

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.