DigitalBridge Group (NYSE:DBRG) Stock Price Down 5% After Analyst Downgrade

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) fell 5% during trading on Monday after Wells Fargo & Company lowered their price target on the stock from $18.00 to $16.00. Wells Fargo & Company currently has an overweight rating on the stock. DigitalBridge Group traded as low as $12.69 and last traded at $12.74. 1,649,231 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 2,312,324 shares. The stock had previously closed at $13.41.

DBRG has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft decreased their target price on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Raymond James dropped their target price on shares of DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating on the stock in a research note on Thursday, August 8th. B. Riley decreased their price objective on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. JPMorgan Chase & Co. upped their price target on shares of DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Finally, Truist Financial cut their target price on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, DigitalBridge Group currently has a consensus rating of “Buy” and an average price target of $18.97.

Institutional Investors Weigh In On DigitalBridge Group

Several institutional investors and hedge funds have recently made changes to their positions in DBRG. nVerses Capital LLC grew its position in DigitalBridge Group by 633.3% during the 2nd 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. Central Pacific Bank Trust Division purchased a new stake in shares of DigitalBridge Group in the third quarter valued at approximately $35,000. Blue Trust Inc. raised its stake in shares of DigitalBridge Group by 179.2% during the 3rd quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock worth $51,000 after buying an additional 2,408 shares during the period. Headlands Technologies LLC lifted its position in shares of DigitalBridge Group by 33,627.3% during the 2nd quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock valued at $102,000 after buying an additional 7,398 shares in the last quarter. Finally, Xponance Inc. acquired a new stake in DigitalBridge Group in the 2nd quarter valued at $138,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

DigitalBridge Group Trading Down 6.3 %

The firm’s fifty day moving average is $14.32 and its 200 day moving average is $13.92. The company has a market cap of $2.19 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 2.76 and a beta of 1.94.

DigitalBridge Group (NYSE:DBRG) last released its 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). DigitalBridge Group had a return on equity of 4.49% and a net margin of 35.10%. The company had revenue of $390.34 million for the quarter, compared to analysts’ expectations of $97.05 million. As a group, sell-side analysts anticipate that DigitalBridge Group, Inc. will post 0.16 EPS for the current fiscal year.

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.