Crescent Park Management L.P. Decreases Holdings in DigitalBridge Group, Inc. $DBRG

Crescent Park Management L.P. lowered its position in DigitalBridge Group, Inc. (NYSE:DBRG) by 6.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 564,858 shares of the company’s stock after selling 36,523 shares during the period. DigitalBridge Group makes up about 2.7% of Crescent Park Management L.P.’s investment portfolio, making the stock its 13th biggest position. Crescent Park Management L.P. owned approximately 0.31% of DigitalBridge Group worth $6,609,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DBRG. Norges Bank purchased a new position in shares of DigitalBridge Group in the second quarter valued at $1,868,000. Azora Capital LP acquired a new stake in DigitalBridge Group in the 2nd quarter valued at about $23,579,000. Gateway Wealth Partners LLC purchased a new position in DigitalBridge Group during the 3rd quarter valued at about $5,483,000. Sarasin & Partners LLP acquired a new position in DigitalBridge Group during the third quarter worth about $1,886,000. Finally, Aberdeen Group plc acquired a new position in DigitalBridge Group during the third quarter worth about $3,220,000. 92.69% of the stock is owned by institutional investors and hedge funds.

DigitalBridge Group Stock Up 0.1%

DBRG stock opened at $15.46 on Tuesday. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 34.36 and a beta of 1.70. DigitalBridge Group, Inc. has a 52-week low of $6.41 and a 52-week high of $15.55. The stock’s fifty day simple moving average is $15.24 and its 200-day simple moving average is $12.93.

DigitalBridge Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.01 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $0.04 annualized dividend and a yield of 0.3%. DigitalBridge Group’s payout ratio is 8.89%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DBRG. Keefe, Bruyette & Woods increased their price target on shares of DigitalBridge Group from $13.50 to $16.00 and gave the company a “market perform” rating in a research report on Tuesday, December 30th. Raymond James Financial cut DigitalBridge Group from a “strong-buy” rating to an “underperform” rating in a report on Tuesday, January 27th. TD Cowen cut DigitalBridge Group from a “buy” rating to a “hold” rating and set a $16.00 price target for the company. in a report on Tuesday, December 30th. Royal Bank Of Canada downgraded DigitalBridge Group from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $23.00 to $16.00 in a research report on Tuesday, December 30th. Finally, Zacks Research upgraded DigitalBridge Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 5th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target 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.