Polar Asset Management Partners Inc. Buys Shares of 50,000 DigitalBridge Group, Inc. $DBRG

Polar Asset Management Partners Inc. acquired a new stake in DigitalBridge Group, Inc. (NYSE:DBRG) during the 1st quarter, Holdings Channel.com reports. The firm acquired 50,000 shares of the company’s stock, valued at approximately $771,000.

Several other hedge funds have also recently bought and sold shares of DBRG. Parallel Advisors LLC grew its position in DigitalBridge Group by 70.4% in the 1st quarter. Parallel Advisors LLC now owns 1,891 shares of the company’s stock valued at $29,000 after acquiring an additional 781 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of DigitalBridge Group by 3.0% in the fourth quarter. Handelsbanken Fonder AB now owns 37,500 shares of the company’s stock valued at $575,000 after purchasing an additional 1,100 shares during the period. Cetera Investment Advisers grew its holdings in shares of DigitalBridge Group by 4.4% in the fourth quarter. Cetera Investment Advisers now owns 28,921 shares of the company’s stock valued at $444,000 after purchasing an additional 1,214 shares in the last quarter. Cerity Partners LLC increased its stake in DigitalBridge Group by 2.5% during the 4th quarter. Cerity Partners LLC now owns 53,055 shares of the company’s stock worth $814,000 after buying an additional 1,274 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in DigitalBridge Group by 12.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company’s stock worth $122,000 after buying an additional 1,309 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

DigitalBridge Group Stock Performance

Shares of DBRG opened at $15.88 on Tuesday. DigitalBridge Group, Inc. has a 1 year low of $8.94 and a 1 year high of $15.92. The stock has a market capitalization of $2.90 billion, a PE ratio of 32.40 and a beta of 1.46. The stock has a 50-day simple moving average of $15.74 and a 200-day simple moving average of $15.56.

Analyst Upgrades and Downgrades

DBRG has been the subject of several recent research reports. Truist Financial began coverage on shares of DigitalBridge Group in a research report on Tuesday, March 31st. They issued a “buy” rating and a $16.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DigitalBridge Group in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, DigitalBridge Group currently has a consensus rating of “Hold” and an average target price of $16.00.

About DigitalBridge Group

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.