DigitalBridge Group, Inc. (NYSE:DBRG – Get Rating) was the target of a large growth in short interest in the month of December. As of December 30th, there was short interest totalling 8,690,000 shares, a growth of 21.0% from the December 15th total of 7,180,000 shares. Based on an average daily volume of 1,820,000 shares, the days-to-cover ratio is currently 4.8 days. Currently, 5.5% of the company's shares are sold short.
DigitalBridge Group Stock Up 2.8 %
NYSE DBRG traded up $0.32 on Friday, reaching $11.94. The company had a trading volume of 1,238,997 shares, compared to its average volume of 1,173,562. The firm has a market capitalization of $1.91 billion, a PE ratio of -4.54 and a beta of 1.89. DigitalBridge Group has a 1 year low of $10.39 and a 1 year high of $32.12. The firm has a 50-day moving average of $12.61 and a 200-day moving average of $15.42. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.57 and a quick ratio of 0.57.
Get DigitalBridge Group alerts:DigitalBridge Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Saturday, December 31st were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Thursday, December 29th. DigitalBridge Group's dividend payout ratio is presently -1.52%.
Hedge Funds Weigh In On DigitalBridge Group
Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of DigitalBridge Group by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 74,983,124 shares of the company's stock valued at $539,879,000 after purchasing an additional 1,666,885 shares in the last quarter. State Street Corp raised its position in shares of DigitalBridge Group by 18.6% in the 1st quarter. State Street Corp now owns 20,337,683 shares of the company's stock valued at $146,431,000 after purchasing an additional 3,184,920 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of DigitalBridge Group by 28.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 18,874,133 shares of the company's stock valued at $92,106,000 after purchasing an additional 4,176,103 shares in the last quarter. Akre Capital Management LLC raised its position in shares of DigitalBridge Group by 56.0% in the 2nd quarter. Akre Capital Management LLC now owns 16,390,191 shares of the company's stock valued at $79,984,000 after purchasing an additional 5,885,391 shares in the last quarter. Finally, Avenir Corp raised its position in shares of DigitalBridge Group by 51.0% during the 2nd quarter. Avenir Corp now owns 10,826,314 shares of the company's stock valued at $52,832,000 after acquiring an additional 3,655,214 shares in the last quarter. Hedge funds and other institutional investors own 88.52% of the company's stock.Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on DBRG. Cowen decreased their target price on DigitalBridge Group from $33.00 to $27.00 in a report on Monday, November 7th. Raymond James decreased their target price on DigitalBridge Group from $38.00 to $34.00 and set a "strong-buy" rating for the company in a report on Monday, November 7th. Finally, Cowen decreased their price target on DigitalBridge Group from $33.00 to $27.00 in a report on Monday, November 7th.
DigitalBridge Group Company Profile
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DigitalBridge Group, Inc is a digital infrastructure company that engages in investing in digital ecosystem including cell towers, data centers, fiber, small cells, and edge infrastructure. It operates through the Digital Investment Management (Digital IM) and Corporate and Other segments. The Digital IM segment represents a digital infrastructure investment platform, managing capital on behalf of a diverse base of global investors.
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