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

DigitalBridge Group, Inc. (NYSE:DBRG) was the recipient of unusually large options trading on Tuesday. Traders acquired 5,185 call options on the company. This is an increase of approximately 69% compared to the average daily volume of 3,074 call options.

DigitalBridge Group Trading Down 0.4%

Shares of NYSE:DBRG opened at $10.68 on Wednesday. DigitalBridge Group has a twelve month low of $6.41 and a twelve month high of $17.33. The company has a market cap of $1.88 billion, a PE ratio of 355.83, a price-to-earnings-growth ratio of 3.46 and a beta of 1.72. The company’s 50 day moving average is $9.31 and its 200 day moving average is $10.36.

DigitalBridge Group Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.37%. DigitalBridge Group’s dividend payout ratio (DPR) is presently 13.33%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wall Street Zen cut DigitalBridge Group from a “hold” rating to a “sell” rating in a research note on Friday, June 6th. Truist Financial upped their price objective on shares of DigitalBridge Group from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, June 3rd. JMP Securities reiterated 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 target price 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. Finally, Keefe, Bruyette & Woods cut their price target on shares of 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 equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, DigitalBridge Group has a consensus rating of “Moderate Buy” and an average price target of $16.28.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Horizon Kinetics Asset Management LLC grew its position in DigitalBridge Group by 868.9% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 4,483,340 shares of the company’s stock worth $50,572,000 after purchasing an additional 4,020,627 shares during the period. Lazard Asset Management LLC grew its holdings in DigitalBridge Group by 384.5% during the fourth quarter. Lazard Asset Management LLC now owns 3,346,966 shares of the company’s stock worth $37,753,000 after acquiring an additional 2,656,100 shares during the period. Lind Value II ApS purchased a new position in DigitalBridge Group during the first quarter valued at approximately $17,479,000. Brown Advisory Inc. lifted its holdings in DigitalBridge Group by 78.2% in the fourth quarter. Brown Advisory Inc. now owns 3,658,935 shares of the company’s stock valued at $41,273,000 after acquiring an additional 1,605,391 shares during the period. Finally, Clearline Capital LP boosted its position in DigitalBridge Group by 189.8% in the 1st quarter. Clearline Capital LP now owns 2,286,782 shares of the company’s stock worth $20,169,000 after purchasing an additional 1,497,664 shares in the last quarter. 92.69% of the stock is currently 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.