DigitalBridge Group (NYSE:DBRG) Sets New 52-Week Low - Time to Sell?

DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report) shares hit a new 52-week low during mid-day 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 research analysts recently issued reports on the company. Wells Fargo & Company cut their price target on DigitalBridge Group from $18.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, November 4th. Raymond James reduced their target price on DigitalBridge Group from $19.00 to $16.00 and set a "strong-buy" rating on the stock in a report on Tuesday, November 5th. Keefe, Bruyette & Woods lowered DigitalBridge Group from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $17.75 to $14.00 in a report on Wednesday, November 6th. JPMorgan Chase & Co. cut their price target 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. Finally, JMP Securities initiated coverage on DigitalBridge Group in a research report on Monday, January 27th. They set an "outperform" rating and a $16.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $16.67.

DigitalBridge Group Stock Performance

The firm's 50 day moving average price is $11.13 and its two-hundred day moving average price is $12.69. The company has a market cap of $1.77 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 2.95 and a beta of 1.91.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DBRG. Freestone Grove Partners LP purchased a new stake in DigitalBridge Group during the fourth quarter worth about $251,000. Comerica Bank increased its stake in shares of DigitalBridge Group by 157.8% during the 4th quarter. Comerica Bank now owns 352,803 shares of the company's stock worth $3,980,000 after purchasing an additional 215,940 shares during the last quarter. Northern Trust Corp raised its holdings in shares of DigitalBridge Group by 1.8% in the 4th quarter. Northern Trust Corp now owns 1,522,539 shares of the company's stock worth $17,174,000 after purchasing an additional 26,930 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in DigitalBridge Group in the fourth quarter valued at approximately $487,000. Finally, Nebula Research & Development LLC bought a new position in DigitalBridge Group during the fourth quarter valued at $190,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

About DigitalBridge Group

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.