DigitalBridge Group, Inc. (NYSE:DBRG) Sees Large Decline in Short Interest

DigitalBridge Group, Inc. (NYSE:DBRG) saw a large drop in short interest during the month of July. As of July 15th, there was short interest totalling 14,090,000 shares, a drop of 7.8% from the June 30th total of 15,280,000 shares. Approximately 8.2% of the shares of the company are short sold. Based on an average daily trading volume, of 2,360,000 shares, the days-to-cover ratio is presently 6.0 days.

DigitalBridge Group Trading Down 2.1 %

DBRG traded down $0.29 on Thursday, hitting $13.84. The company had a trading volume of 1,373,736 shares, compared to its average volume of 2,145,216. The firm has a market cap of $2.40 billion, a P/E ratio of 8.92, a PEG ratio of 1.40 and a beta of 2.00. DigitalBridge Group has a 1 year low of $12.12 and a 1 year high of $20.99. The company’s fifty day moving average price is $13.41 and its 200 day moving average price is $16.34.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). The company had revenue of $74.39 million during the quarter, compared to analysts’ expectations of $100.76 million. DigitalBridge Group had a net margin of 26.64% and a return on equity of 3.14%. On average, analysts predict that DigitalBridge Group will post 0.28 earnings per share for the current year.

Institutional Trading of DigitalBridge Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC increased its stake in DigitalBridge Group by 633.3% during the second quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock worth $30,000 after purchasing an additional 1,900 shares during the period. Banque Cantonale Vaudoise purchased a new stake in DigitalBridge Group during the second quarter worth about $280,000. Commonwealth Equity Services LLC increased its stake in DigitalBridge Group by 28.1% during the second quarter. Commonwealth Equity Services LLC now owns 20,760 shares of the company’s stock worth $284,000 after purchasing an additional 4,560 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in DigitalBridge Group by 47.5% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,092,671 shares of the company’s stock worth $14,969,000 after purchasing an additional 351,965 shares during the period. Finally, Peregrine Capital Management LLC increased its stake in DigitalBridge Group by 22.6% during the second quarter. Peregrine Capital Management LLC now owns 493,074 shares of the company’s stock worth $6,755,000 after purchasing an additional 90,875 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on DBRG shares. JPMorgan Chase & Co. reduced their price target on shares of DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Keefe, Bruyette & Woods dropped their price objective on shares of DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating on the stock in a research note on Tuesday, June 18th. B. Riley dropped their price objective on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Truist Financial dropped their price objective on shares of DigitalBridge Group from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $19.00 price objective on shares of DigitalBridge Group in a research note on Wednesday, July 3rd. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, DigitalBridge Group currently has a consensus rating of “Buy” and an average target price of $20.54.

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.