DigitalBridge Group (NYSE:DBRG) Issues Earnings Results

DigitalBridge Group (NYSE:DBRG) issued its earnings results on Tuesday. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05, FiscalAI reports. The company had revenue of $88.06 million for the quarter, compared to analysts’ expectations of $102.90 million.

DigitalBridge Group Stock Up 0.3%

DBRG stock traded up $0.05 during trading on Tuesday, hitting $15.88. 4,598,258 shares of the company’s stock traded hands, compared to its average volume of 3,491,009. The firm has a market capitalization of $2.90 billion, a P/E ratio of 32.41 and a beta of 1.47. The business has a fifty day simple moving average of $15.76 and a two-hundred day simple moving average of $15.57. DigitalBridge Group has a 1 year low of $8.94 and a 1 year high of $15.92.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of DigitalBridge Group in a report on Friday, May 29th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $16.00.

Institutional Trading of DigitalBridge Group

A number of hedge funds have recently bought and sold shares of the stock. Pentwater Capital Management LP purchased a new stake in shares of DigitalBridge Group during the 4th quarter worth $176,410,000. KRYGER CAPITAL Ltd purchased a new position in DigitalBridge Group in the fourth quarter valued at about $75,234,000. New South Capital Management Inc. raised its holdings in DigitalBridge Group by 21.0% in the fourth quarter. New South Capital Management Inc. now owns 4,571,797 shares of the company’s stock worth $70,131,000 after purchasing an additional 794,434 shares in the last quarter. Geode Capital Management LLC raised its holdings in DigitalBridge Group by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 4,082,778 shares of the company’s stock worth $62,640,000 after purchasing an additional 104,773 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of DigitalBridge Group by 5.5% during the third quarter. Invesco Ltd. now owns 4,049,310 shares of the company’s stock valued at $47,377,000 after buying an additional 212,361 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Company Profile

DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.