DigitalBridge Group (NYSE:DBRG) Cut to “Sell” at Wall Street Zen

DigitalBridge Group (NYSE:DBRG) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday.

Other equities research analysts have also recently issued research reports about the company. JMP Securities restated a “market outperform” rating and set a $16.00 price objective on shares of DigitalBridge Group in a report on Friday, May 16th. Truist Financial boosted their price objective on DigitalBridge Group from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, June 3rd. Finally, Keefe, Bruyette & Woods boosted their price objective on DigitalBridge Group from $10.50 to $11.00 and gave the stock a “market perform” rating in a report on Tuesday, August 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $16.00.

DigitalBridge Group Stock Down 0.1%

Shares of NYSE:DBRG opened at $11.21 on Friday. DigitalBridge Group has a 12-month low of $6.41 and a 12-month high of $17.33. The stock has a market cap of $2.04 billion, a PE ratio of -280.25 and a beta of 1.77. The business has a 50 day moving average of $10.62 and a 200-day moving average of $10.02.

Institutional Trading of DigitalBridge Group

Large investors have recently modified their holdings of the stock. Wells Fargo & Company MN lifted its stake in DigitalBridge Group by 6.0% during the fourth quarter. Wells Fargo & Company MN now owns 536,965 shares of the company’s stock worth $6,057,000 after purchasing an additional 30,206 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in DigitalBridge Group by 273.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 42,188 shares of the company’s stock worth $476,000 after purchasing an additional 30,877 shares during the last quarter. Cerity Partners LLC lifted its stake in DigitalBridge Group by 133.3% during the fourth quarter. Cerity Partners LLC now owns 46,813 shares of the company’s stock worth $548,000 after purchasing an additional 26,745 shares during the last quarter. Renaissance Technologies LLC lifted its stake in DigitalBridge Group by 22.1% during the fourth quarter. Renaissance Technologies LLC now owns 351,776 shares of the company’s stock worth $3,968,000 after purchasing an additional 63,600 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in DigitalBridge Group during the fourth quarter worth $4,087,000. 92.69% of the stock is owned by institutional investors and hedge funds.

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.