The Vanguard Group, Inc. recently announced the acquisition of new stake in DigitalBridge Group Inc (NYSE:DBRG). The institutional investor has increased its shareholding in the Real Estate company by 0.37% to 23.04 million shares with purchase of 84402.0 shares. This fresh investment now brings its stake to 14.12% valued currently at $397.7 million. In addition, SSgA Funds Management, Inc. raised its holdings by 11983.0 to 3.9 million shares. And Geode Capital Management LLC has lifted its position by 2.80% or 93114.0 shares – to 3.41 million shares.
With over 4.43 million DigitalBridge Group Inc (DBRG) shares trading Tuesday and a closing price of $18.13 on the day, the dollar volume was approximately $80.28 million. The shares have shown a positive half year performance of 15.26% and its price on 01/09/24 gained nearly 1.40%. Currently, there are 163.41M common shares owned by the public and among those 161.65M shares have been available to trade.
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Insiders at the company have transacted a total of 25 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 13 of these insider trades were purchases, accounting for 506,111 shares. Insider sales of the common stock occurred on 12 occasions, with total insider shares sold totaling 159,456 shares.
The top 3 mutual fund holders in DigitalBridge Group Inc are Vanguard Real Estate Index Fund, American Funds Small Cap World Fu, and Vanguard Total Stock Market ETF. Vanguard Real Estate Index Fund owns 6.67 million shares of the company’s stock, all valued at over $115.17 million. The company sold 47345.0 shares recently to bring their total holdings to about 4.09% of the shares outstanding. American Funds Small Cap World Fu sold -2.45 million shares to see its total holdings shrink to 6.52 million shares valued at over $112.6 million and representing 4.00% of the shares outstanding. Vanguard Total Stock Market ETF bought 7931.0 shares to bring its total holdings to over 5.08 million shares at a value of $87.7 million. Vanguard Total Stock Market ETF now owns shares totaling to 3.11% of the shares outstanding.
Shares of DigitalBridge Group Inc (NYSE: DBRG) opened at $17.57, down -$0.31 from a prior closing price of $17.88. However, the script later moved the day high at 18.13, up 1.40%. The company’s stock has a 5-day price change of 1.57% and 11.84% over the past three months. DBRG shares are trading 3.36% year to date (YTD), with the 12-month market performance up to 67.41% higher. It has a 12-month low price of $9.99 and touched a high of $18.43 over the same period. DBRG has an average intraday trading volume of 1.72 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.06%, 8.86%, and 20.66% respectively.
Institutional ownership of DigitalBridge Group Inc (NYSE: DBRG) shares accounts for 91.20% of the company’s 163.41M shares outstanding. Mutual fund holders own 39.06%, while other institutional holders and individual stakeholders account for 52.24% and 0.98% respectively.
It has a market capitalization of $2.96B and a beta (3y monthly) value of 1.94. The earnings-per-share (ttm) stands at -$0.12. The company has a debt-to-equity ratio at 1.91. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.23% over the week and 3.89% over the month.
Analysts forecast that DigitalBridge Group Inc (DBRG) will achieve an EPS of -$0.23 for the current quarter, $0.02 for the next quarter and -$1.04 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.82 while analysts give the company a high EPS estimate of $0.16. Comparatively, EPS for the current quarter was -$0.12 a year ago. Earnings per share for the fiscal year are expected to increase by 92.24%, and -85.22% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate DigitalBridge Group Inc (DBRG) as a “Strong Buy” at a consensus score of 1.00. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 0 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the DBRG, a number of firms have released research notes about the stock. B. Riley Securities stated their Buy rating for the stock in a research note on December 06, 2023, with the firm’s price target at $27.
