DigitalBridge Group (NYSE:DBRG) Price Target Raised to $16.00

DigitalBridge Group (NYSE:DBRG) had its price target hoisted by equities researchers at Wells Fargo & Company from $15.00 to $16.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 31.42% from the stock’s previous close.

DBRG has been the topic of a number of other reports. JMP Securities started coverage on shares of DigitalBridge Group in a research note on Monday, January 27th. They set an “outperform” rating and a $16.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on shares of 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 dropped their price objective on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 5th. Citizens Jmp upgraded shares of DigitalBridge Group to a “strong-buy” rating in a research note on Monday, January 27th. Finally, B. Riley dropped their price objective on shares of DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $16.67.

DigitalBridge Group Stock Performance

Shares of NYSE:DBRG opened at $12.18 on Monday. The firm has a market cap of $2.12 billion, a PE ratio of 405.83, a price-to-earnings-growth ratio of 3.46 and a beta of 1.91. The firm’s 50 day simple moving average is $10.99 and its 200-day simple moving average is $12.63. DigitalBridge Group has a one year low of $10.03 and a one year high of $19.49.

DigitalBridge Group (NYSE:DBRG) last issued its earnings results on Thursday, February 20th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The business had revenue of $101.55 million for the quarter, compared to analyst estimates of $93.01 million. DigitalBridge Group had a net margin of 10.98% and a return on equity of 4.29%. Equities research analysts predict that DigitalBridge Group will post 0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Frontier Capital Management Co. LLC raised its holdings in shares of DigitalBridge Group by 28.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 5,575,225 shares of the company’s stock worth $62,889,000 after buying an additional 1,218,901 shares during the last quarter. Horizon Kinetics Asset Management LLC raised its holdings in shares of DigitalBridge Group by 868.9% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 4,483,340 shares of the company’s stock worth $50,572,000 after buying an additional 4,020,627 shares during the last quarter. State Street Corp raised its holdings in shares of DigitalBridge Group by 12.0% in the third quarter. State Street Corp now owns 4,427,379 shares of the company’s stock worth $62,603,000 after buying an additional 474,101 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of DigitalBridge Group by 8.3% during the third quarter. Geode Capital Management LLC now owns 4,167,413 shares of the company’s stock worth $58,895,000 after purchasing an additional 317,776 shares during the last quarter. Finally, New South Capital Management Inc. raised its holdings in shares of DigitalBridge Group by 2.9% during the fourth quarter. New South Capital Management Inc. now owns 4,055,232 shares of the company’s stock worth $45,743,000 after purchasing an additional 115,029 shares during the last quarter. Hedge funds and other 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.