Legion Partners Asset Management LLC Has $47.31 Million Stake in DigitalBridge Group, Inc. (NYSE:DBRG)

Legion Partners Asset Management LLC raised its holdings in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,453,253 shares of the company’s stock after acquiring an additional 111,243 shares during the quarter. DigitalBridge Group comprises approximately 14.6% of Legion Partners Asset Management LLC’s portfolio, making the stock its 2nd biggest holding. Legion Partners Asset Management LLC owned approximately 1.99% of DigitalBridge Group worth $47,310,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its holdings in DigitalBridge Group by 4.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 94,155 shares of the company’s stock worth $1,290,000 after acquiring an additional 4,005 shares during the period. Point72 Asset Management L.P. grew its position in shares of DigitalBridge Group by 125.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,629,197 shares of the company’s stock valued at $22,320,000 after purchasing an additional 906,297 shares in the last quarter. Xponance Inc. purchased a new position in shares of DigitalBridge Group during the 2nd quarter valued at $138,000. Westwood Holdings Group Inc. increased its holdings in shares of DigitalBridge Group by 32.6% in the second quarter. Westwood Holdings Group Inc. now owns 1,405,038 shares of the company’s stock worth $19,249,000 after purchasing an additional 345,255 shares during the period. Finally, Sei Investments Co. raised its position in shares of DigitalBridge Group by 121.1% in the second quarter. Sei Investments Co. now owns 669,601 shares of the company’s stock worth $9,174,000 after buying an additional 366,745 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Trading Up 0.6 %

Shares of NYSE:DBRG opened at $14.19 on Friday. The stock has a market capitalization of $2.47 billion, a P/E ratio of 9.15, a price-to-earnings-growth ratio of 2.59 and a beta of 1.96. The stock’s 50-day moving average price is $13.11 and its 200-day moving average price is $14.59. DigitalBridge Group, Inc. has a 12-month low of $11.07 and a 12-month high of $20.99.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The company had revenue of $390.34 million during the quarter, compared to analysts’ expectations of $97.05 million. DigitalBridge Group had a return on equity of 4.49% and a net margin of 35.10%. As a group, research analysts predict that DigitalBridge Group, Inc. will post 0.16 EPS for the current year.

DigitalBridge Group Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. B. Riley reduced their target price on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Wells Fargo & Company decreased their price objective on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Truist Financial lowered their target price on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft cut their price target on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Finally, Raymond James lowered their price objective on shares of DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating on the stock in a research report on Thursday, August 8th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, DigitalBridge Group has a consensus rating of “Buy” and an average 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.