William Blair Investment Management LLC Makes New $2.49 Million Investment in DigitalBridge Group, Inc. (NYSE:DBRG)

William Blair Investment Management LLC purchased a new stake in shares of DigitalBridge Group, Inc. (NYSE:DBRG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 181,960 shares of the company’s stock, valued at approximately $2,493,000. William Blair Investment Management LLC owned about 0.10% of DigitalBridge Group at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Victory Capital Management Inc. raised its holdings in shares of DigitalBridge Group by 4.1% during the second quarter. Victory Capital Management Inc. now owns 22,165 shares of the company’s stock valued at $304,000 after buying an additional 870 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of DigitalBridge Group by 1.9% during the second quarter. Arizona State Retirement System now owns 45,735 shares of the company’s stock valued at $627,000 after buying an additional 872 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of DigitalBridge Group by 7.2% during the fourth quarter. Teacher Retirement System of Texas now owns 13,399 shares of the company’s stock valued at $235,000 after buying an additional 905 shares during the last quarter. nVerses Capital LLC raised its holdings in shares of DigitalBridge Group by 633.3% during the second quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock valued at $30,000 after buying an additional 1,900 shares during the last quarter. Finally, Harvest Investment Services LLC raised its holdings in shares of DigitalBridge Group by 8.3% during the fourth quarter. Harvest Investment Services LLC now owns 27,084 shares of the company’s stock valued at $475,000 after buying an additional 2,084 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Stock Performance

DigitalBridge Group stock opened at $14.47 on Tuesday. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 9.34, a price-to-earnings-growth ratio of 1.78 and a beta of 1.96. DigitalBridge Group, Inc. has a 1 year low of $11.07 and a 1 year high of $20.99. The firm’s 50 day moving average price is $13.06 and its two-hundred day moving average price is $14.77.

DigitalBridge Group (NYSE:DBRG) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). DigitalBridge Group had a return on equity of 4.49% and a net margin of 35.10%. The business had revenue of $390.34 million during the quarter, compared to analyst estimates of $97.05 million. As a group, equities analysts predict that DigitalBridge Group, Inc. will post 0.2 EPS for the current fiscal year.

DigitalBridge Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.28%. The ex-dividend date is Monday, September 30th. DigitalBridge Group’s payout ratio is 2.58%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. B. Riley cut their price target on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Raymond James dropped their target price on DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company dropped their target price on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft dropped their target price on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, Keefe, Bruyette & Woods dropped their target price on DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating on the stock in a report on Tuesday, June 18th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, DigitalBridge Group currently has an average rating of “Buy” and a consensus price target of $19.22.

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.