Investors Purchase Large Volume of Call Options on DigitalBridge Group (NYSE:DBRG)

DigitalBridge Group, Inc. (NYSE:DBRG) was the target of unusually large options trading on Thursday. Stock investors bought 8,130 call options on the stock. This is an increase of approximately 571% compared to the average daily volume of 1,211 call options.

Hedge Funds Weigh In On DigitalBridge Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its stake in DigitalBridge Group by 7.4% in the 4th quarter. Russell Investments Group Ltd. now owns 103,445 shares of the company’s stock worth $1,814,000 after purchasing an additional 7,116 shares during the period. Victory Capital Management Inc. boosted its stake in DigitalBridge Group by 24.5% in the 4th quarter. Victory Capital Management Inc. now owns 21,789 shares of the company’s stock worth $382,000 after purchasing an additional 4,291 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in DigitalBridge Group by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,523,972 shares of the company’s stock worth $26,730,000 after purchasing an additional 8,455 shares during the period. Teacher Retirement System of Texas boosted its stake in DigitalBridge Group by 7.2% in the 4th quarter. Teacher Retirement System of Texas now owns 13,399 shares of the company’s stock worth $235,000 after purchasing an additional 905 shares during the period. Finally, AGF Management Ltd. acquired a new position in DigitalBridge Group in the 4th quarter worth $641,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

DigitalBridge Group Stock Performance

Shares of DigitalBridge Group stock opened at $14.11 on Friday. The firm has a fifty day moving average of $13.03 and a two-hundred day moving average of $14.84. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 1.78 and a beta of 1.96. DigitalBridge Group has a 52 week low of $11.07 and a 52 week high of $20.99.

DigitalBridge Group (NYSE:DBRG) last issued its earnings results on Wednesday, August 7th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $390.34 million for the quarter, compared to the consensus estimate of $97.05 million. DigitalBridge Group had a net margin of 35.10% and a return on equity of 4.49%. As a group, research analysts forecast that DigitalBridge Group will post 0.2 EPS for the current fiscal year.

DigitalBridge Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend is Monday, September 30th. DigitalBridge Group’s dividend payout ratio (DPR) is 2.58%.

Wall Street Analyst Weigh In

Several research firms have weighed in on DBRG. Royal Bank of Canada restated an “outperform” rating and set a $19.00 target price on shares of DigitalBridge Group in a report on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft lowered their price target on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. B. Riley lowered their price target on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods lowered their price target on DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating on the stock in a research report on Tuesday, June 18th. Finally, Wells Fargo & Company decreased their target price on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $19.22.

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.