Stock Traders Purchase High Volume of DigitalBridge Group Call Options (NYSE:DBRG)

DigitalBridge Group, Inc. (NYSE:DBRG) was the target of some unusual options trading on Tuesday. Stock traders acquired 5,185 call options on the stock. This represents an increase of approximately 69% compared to the typical volume of 3,074 call options.

DigitalBridge Group Trading Down 0.4%

Shares of DigitalBridge Group stock opened at $10.68 on Wednesday. DigitalBridge Group has a 12 month low of $6.41 and a 12 month high of $17.33. The stock’s fifty day moving average price is $9.31 and its 200-day moving average price is $10.36. The firm has a market cap of $1.88 billion, a P/E ratio of 355.83, a P/E/G ratio of 3.46 and a beta of 1.72.

DigitalBridge Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Monday, June 30th. DigitalBridge Group’s payout ratio is 13.33%.

Wall Street Analyst Weigh In

Several research analysts recently commented on DBRG shares. Truist Financial lifted their price target on DigitalBridge Group from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, June 3rd. JMP Securities reissued a “market outperform” rating and issued a $16.00 target price on shares of DigitalBridge Group in a research note on Friday, May 16th. Wells Fargo & Company lifted their price target on shares of DigitalBridge Group from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Wall Street Zen downgraded shares of DigitalBridge Group from a “hold” rating to a “sell” rating in a research note on Friday, June 6th. Finally, Keefe, Bruyette & Woods cut their target price on DigitalBridge Group from $13.50 to $10.50 and set a “market perform” rating on the stock in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, DigitalBridge Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.28.

Institutional Trading of DigitalBridge Group

Hedge funds have recently bought and sold shares of the stock. Sunbelt Securities Inc. lifted its stake in shares of DigitalBridge Group by 109.9% during the 4th quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company’s stock worth $31,000 after purchasing an additional 1,464 shares during the last quarter. Spire Wealth Management bought a new position in DigitalBridge Group in the fourth quarter worth about $37,000. Point72 Hong Kong Ltd purchased a new stake in shares of DigitalBridge Group during the fourth quarter valued at about $39,000. GAMMA Investing LLC boosted its holdings in shares of DigitalBridge Group by 978.9% in the 1st quarter. GAMMA Investing LLC now owns 4,445 shares of the company’s stock valued at $39,000 after buying an additional 4,033 shares in the last quarter. Finally, Manchester Capital Management LLC grew its position in shares of DigitalBridge Group by 172.1% in the 4th quarter. Manchester Capital Management LLC now owns 4,372 shares of the company’s stock worth $49,000 after buying an additional 2,765 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

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.