Quinn Opportunity Partners LLC Purchases New Stake in DigitalBridge Group, Inc. (NYSE:DBRG)

Quinn Opportunity Partners LLC purchased a new stake in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 49,166 shares of the company's stock, valued at approximately $555,000.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of DigitalBridge Group by 12.0% during the 3rd quarter. State Street Corp now owns 4,427,379 shares of the company's stock worth $62,603,000 after acquiring an additional 474,101 shares in the last quarter. Barclays PLC lifted its stake in DigitalBridge Group by 364.3% during the third quarter. Barclays PLC now owns 268,326 shares of the company's stock valued at $3,792,000 after buying an additional 210,533 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of DigitalBridge Group by 8.3% in the third quarter. Geode Capital Management LLC now owns 4,167,413 shares of the company's stock worth $58,895,000 after buying an additional 317,776 shares during the period. Sanctuary Advisors LLC increased its position in shares of DigitalBridge Group by 10.3% in the third quarter. Sanctuary Advisors LLC now owns 219,342 shares of the company's stock worth $3,099,000 after acquiring an additional 20,486 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of DigitalBridge Group by 22.8% during the third quarter. Tidal Investments LLC now owns 99,995 shares of the company's stock valued at $1,413,000 after acquiring an additional 18,536 shares during the period. Institutional investors own 92.69% of the company's stock.

DigitalBridge Group Stock Performance

Shares of DBRG stock traded up $0.23 during mid-day trading on Thursday, reaching $8.00. The company's stock had a trading volume of 486,023 shares, compared to its average volume of 2,545,131. DigitalBridge Group, Inc. has a 1-year low of $6.41 and a 1-year high of $18.00. The company has a market cap of $1.39 billion, a P/E ratio of 266.73, a PEG ratio of 3.46 and a beta of 1.68. The firm's 50-day moving average is $9.48 and its two-hundred day moving average is $11.59.

DigitalBridge Group (NYSE:DBRG - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate 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%. Sell-side analysts anticipate that DigitalBridge Group, Inc. will post 0.17 EPS for the current year.

DigitalBridge Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Monday, March 31st. DigitalBridge Group's dividend payout ratio is currently 133.33%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wells Fargo & Company boosted their target price on shares of DigitalBridge Group from $15.00 to $16.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. JPMorgan Chase & Co. reduced their price target on DigitalBridge Group from $20.00 to $18.00 and set an "overweight" rating for the company in a report on Tuesday, January 21st. JMP Securities began coverage on DigitalBridge Group in a report on Monday, January 27th. They issued an "outperform" rating and a $16.00 price objective on the stock. Citizens Jmp upgraded shares of DigitalBridge Group to a "strong-buy" rating in a report on Monday, January 27th. Finally, B. Riley lowered their target price on shares of DigitalBridge Group from $24.00 to $20.00 and set a "buy" rating on the stock 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $16.39.

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.