New York State Common Retirement Fund Grows Position in DigitalBridge Group, Inc. $DBRG

New York State Common Retirement Fund grew its stake in DigitalBridge Group, Inc. (NYSE:DBRG) by 13.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 649,033 shares of the company’s stock after buying an additional 76,251 shares during the period. New York State Common Retirement Fund’s holdings in DigitalBridge Group were worth $7,594,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. State of Alaska Department of Revenue purchased a new position in DigitalBridge Group in the 3rd quarter worth $84,000. Captrust Financial Advisors acquired a new stake in shares of DigitalBridge Group during the second quarter worth about $109,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in DigitalBridge Group during the 2nd quarter valued at approximately $113,000. Russell Investments Group Ltd. increased its stake in shares of DigitalBridge Group by 239.4% in the second quarter. Russell Investments Group Ltd. now owns 11,373 shares of the company’s stock worth $118,000 after acquiring an additional 8,022 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of DigitalBridge Group by 12.5% during the second quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company’s stock worth $122,000 after purchasing an additional 1,309 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on DBRG shares. TD Cowen lowered shares of DigitalBridge Group from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a report on Tuesday, December 30th. Raymond James Financial downgraded DigitalBridge Group from a “strong-buy” rating to an “underperform” rating in a research note on Tuesday, January 27th. Zacks Research raised DigitalBridge Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of DigitalBridge Group in a research note on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods boosted their target price on shares of DigitalBridge Group from $13.50 to $16.00 and gave the company a “market perform” rating in a research note on Tuesday, December 30th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $16.00.

DigitalBridge Group Price Performance

DigitalBridge Group stock opened at $15.47 on Thursday. The stock has a market capitalization of $2.83 billion, a PE ratio of 257.88 and a beta of 1.70. The business has a 50 day simple moving average of $14.22 and a 200-day simple moving average of $12.34. DigitalBridge Group, Inc. has a 12 month low of $6.41 and a 12 month high of $15.55.

DigitalBridge Group Profile

DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.