Victory Capital Management Inc. Raises Stock Holdings in DigitalBridge Group, Inc. (NYSE:DBRG)

Victory Capital Management Inc. boosted its holdings in shares of DigitalBridge Group, Inc. (NYSE:DBRG – Get Rating) by 70.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 76,700 shares of the company’s stock after purchasing an additional 31,573 shares during the quarter. Victory Capital Management Inc.’s holdings in DigitalBridge Group were worth $1,135,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DBRG. Nomura Holdings Inc. purchased a new position in DigitalBridge Group during the second quarter worth approximately $52,000. BDO Wealth Advisors LLC boosted its position in DigitalBridge Group by 26.3% during the fourth quarter. BDO Wealth Advisors LLC now owns 4,800 shares of the company’s stock worth $53,000 after purchasing an additional 1,000 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in DigitalBridge Group during the first quarter worth approximately $57,000. Exchange Traded Concepts LLC boosted its position in DigitalBridge Group by 71.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 5,712 shares of the company’s stock worth $62,000 after purchasing an additional 2,380 shares in the last quarter. Finally, Geneos Wealth Management Inc. purchased a new position in DigitalBridge Group during the first quarter worth approximately $70,000. Hedge funds and other institutional investors own 88.52% of the company’s stock.

DigitalBridge Group Price Performance

NYSE:DBRG opened at $12.84 on Friday. DigitalBridge Group, Inc. has a one year low of $9.99 and a one year high of $23.44. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $2.08 billion, a PE ratio of -6.14 and a beta of 2.02. The stock has a 50 day moving average price of $11.58 and a 200 day moving average price of $12.37.

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DigitalBridge Group (NYSE:DBRG – Get Rating) last posted its quarterly earnings results on Wednesday, May 3rd. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.10). DigitalBridge Group had a negative net margin of 24.01% and a positive return on equity of 0.89%. The company had revenue of $250.16 million during the quarter, compared to analyst estimates of $297.44 million. During the same period in the prior year, the business posted ($0.46) EPS. DigitalBridge Group’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities research analysts expect that DigitalBridge Group, Inc. will post 0.09 EPS for the current fiscal year.

DigitalBridge Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, June 29th. This represents a $0.04 annualized dividend and a yield of 0.31%. DigitalBridge Group’s dividend payout ratio (DPR) is -1.91%.

Analysts Set New Price Targets

DBRG has been the topic of several research reports. B. Riley decreased their target price on DigitalBridge Group from $32.00 to $29.00 and set a “buy” rating on the stock in a research report on Friday, March 24th. Cowen decreased their target price on DigitalBridge Group from $27.00 to $20.00 in a research report on Monday, February 27th. Raymond James decreased their target price on DigitalBridge Group from $34.00 to $25.00 and set a “strong-buy” rating on the stock in a research report on Thursday, March 2nd. JPMorgan Chase & Co. decreased their target price on DigitalBridge Group from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, February 27th. Finally, Wells Fargo & Company decreased their target price on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Monday, February 27th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, DigitalBridge Group currently has an average rating of “Buy” and an average target price of $22.00.

About DigitalBridge Group

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DigitalBridge Group, Inc is a digital infrastructure company that engages in investing in digital ecosystem including cell towers, data centers, fiber, small cells, and edge infrastructure. It operates through the Digital Investment Management (Digital IM) and Corporate and Other segments. The Digital IM segment represents a digital infrastructure investment platform, managing capital on behalf of a diverse base of global investors.