LB Partners LLC Acquires Shares of 250,000 DigitalBridge Group, Inc. (NYSE:DBRG)

LB Partners LLC acquired a new stake in DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 250,000 shares of the company's stock, valued at approximately $2,820,000. DigitalBridge Group comprises approximately 2.1% of LB Partners LLC's investment portfolio, making the stock its 13th largest position. LB Partners LLC owned approximately 0.14% of DigitalBridge Group at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its position in shares of DigitalBridge Group by 4.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 94,155 shares of the company's stock worth $1,290,000 after purchasing an additional 4,005 shares in the last quarter. Algert Global LLC purchased a new stake in DigitalBridge Group during the 2nd quarter worth approximately $225,000. Truist Financial Corp acquired a new position in shares of DigitalBridge Group during the 2nd quarter worth approximately $476,000. Cetera Investment Advisers lifted its holdings in DigitalBridge Group by 3.5% in the second quarter. Cetera Investment Advisers now owns 81,447 shares of the company's stock valued at $1,116,000 after acquiring an additional 2,747 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in DigitalBridge Group in the second quarter valued at approximately $2,724,000. 92.69% of the stock is owned by institutional investors.

DigitalBridge Group Stock Performance

NYSE:DBRG traded up $0.08 during trading hours on Wednesday, hitting $10.84. 1,343,034 shares of the company's stock traded hands, compared to its average volume of 2,269,962. The firm has a market cap of $1.89 billion, a P/E ratio of 14.84, a P/E/G ratio of 2.97 and a beta of 1.91. DigitalBridge Group, Inc. has a twelve month low of $10.24 and a twelve month high of $20.99. The stock's fifty day moving average price is $11.53 and its two-hundred day moving average price is $12.89.

Analyst Ratings Changes

DBRG has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price target 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. Keefe, Bruyette & Woods lowered DigitalBridge Group from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $17.75 to $14.00 in a report on Wednesday, November 6th. Wells Fargo & Company decreased their price objective on shares of DigitalBridge Group from $18.00 to $16.00 and set an "overweight" rating for the company in a research note on Monday, November 4th. JMP Securities assumed coverage on shares of DigitalBridge Group in a research note on Monday, January 27th. They set an "outperform" rating and a $16.00 target price for the company. Finally, B. Riley reduced their price objective on shares of DigitalBridge Group from $24.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. One investment 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, the company currently has an average rating of "Buy" and a consensus price target of $16.67.

DigitalBridge Group 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.