DigitalBridge Group (NYSE:DBRG) Shares Gap Down - Time to Sell?

DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $15.69, but opened at $13.58. DigitalBridge Group shares last traded at $12.72, with a volume of 829,037 shares.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DBRG. B. Riley dropped their price target on DigitalBridge Group from $27.00 to $24.00 and set a "buy" rating on the stock in a research report on Tuesday, July 9th. JPMorgan Chase & Co. upped their target price on DigitalBridge Group from $22.00 to $23.00 and gave the company an "overweight" rating in a report on Tuesday, October 1st. Truist Financial decreased their price objective on shares of DigitalBridge Group from $19.00 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, August 21st. Raymond James reduced their price target on shares of DigitalBridge Group from $22.00 to $19.00 and set a "strong-buy" rating for the company in a research report on Thursday, August 8th. Finally, Wells Fargo & Company decreased their price objective on shares of DigitalBridge Group from $20.00 to $18.00 and set an "overweight" rating for the company in a report on Tuesday, August 6th. Seven analysts have rated the stock with a buy rating and one has issued 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 $19.22.

DigitalBridge Group Stock Down 14.5 %

The company has a 50-day simple moving average of $14.31 and a two-hundred day simple moving average of $14.04. The firm has a market cap of $2.33 billion, a PE ratio of 6.01, a PEG ratio of 2.84 and a beta of 1.95.

DigitalBridge Group (NYSE:DBRG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). The business had revenue of $390.34 million for the quarter, compared to the consensus estimate of $97.05 million. DigitalBridge Group had a net margin of 35.10% and a return on equity of 4.49%. As a group, equities analysts predict that DigitalBridge Group, Inc. will post 0.16 earnings per share for the current year.

DigitalBridge Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.30%. DigitalBridge Group's dividend payout ratio (DPR) is presently 1.88%.

Institutional Investors Weigh In On DigitalBridge Group

Several hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB bought a new position in DigitalBridge Group in the 1st quarter worth $3,214,000. Jennison Associates LLC purchased a new position in DigitalBridge Group during the first quarter valued at approximately $650,000. Quantbot Technologies LP lifted its position in shares of DigitalBridge Group by 78.4% during the first quarter. Quantbot Technologies LP now owns 139,398 shares of the company's stock valued at $2,686,000 after buying an additional 61,258 shares during the last quarter. Swiss National Bank increased its position in DigitalBridge Group by 0.7% during the 1st quarter. Swiss National Bank now owns 322,325 shares of the company's stock valued at $6,211,000 after buying an additional 2,100 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of DigitalBridge Group by 77.9% during the first quarter. Sei Investments Co. now owns 302,856 shares of the company's stock worth $5,836,000 after buying an additional 132,638 shares during the period. 92.69% of the stock is currently owned by 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.