DigitalBridge Group, Inc. (NYSE:DBRG – Get Rating)’s stock price traded down 5.2% during mid-day trading on Tuesday after B. Riley lowered their price target on the stock from $40.00 to $37.00. B. Riley currently has a buy rating on the stock. DigitalBridge Group traded as low as $15.33 and last traded at $15.42. 22,977 shares were traded during mid-day trading, a decline of 99% from the average session volume of 2,105,912 shares. The stock had previously closed at $16.27.
Separately, Cowen lowered their price objective on DigitalBridge Group to $34.00 in a research report on Tuesday, August 9th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.20.
Insiders Place Their Bets
In related news, CFO Jacky Wu acquired 9,157 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was acquired at an average price of $5.46 per share, with a total value of $49,997.22. Following the acquisition, the chief financial officer now directly owns 1,107,533 shares in the company, valued at approximately $6,047,130.18. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.66% of the stock is currently owned by insiders.
Hedge Funds Weigh In On DigitalBridge Group
DigitalBridge Group Trading Down 6.3 %
The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of -7.94 and a beta of 1.79. The company has a fifty day moving average price of $19.68 and a two-hundred day moving average price of $23.01. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.49.
DigitalBridge Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date is Thursday, September 29th.
About DigitalBridge Group
DigitalBridge (NYSE: DBRG) is an infrastructure investment firm. It specializes in investing and operating businesses across the digital ecosystem including cell towers, data centers, fiber, small cells, edge infrastructure, digital infrastructure and real estate. DigitalBridge Group, Inc was founded in 2009 and is headquartered in Boca Raton, Florida with additional offices in Los Angeles, California; New York, New York; Boston, Massachusetts; Denver, Colorado; London, United Kingdom; Senningerberg, Luxembourg and Singapore.
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