DigitalBridge Group Inc [NYSE: DBRG] gained 2.85% on the last trading session, reaching $18.79 price per share at the time. The company report on February 20, 2024 at 6:59 AM that DigitalBridge Reports Fourth Quarter & Full Year 2023 Financial Results.
DigitalBridge Group, Inc. (NYSE: DBRG), a leading global alternative asset manager dedicated to investing in digital infrastructure, today announced financial results for the fourth quarter and full year ending December 31, 2023.
“We had a strong finish to 2023 with the best quarter in investment management fees and fee-related earnings since we assumed leadership at DigitalBridge. Following the successful deconsolidation of our Operating segment in the fourth quarter, today we are a simple, profitable, and fast-growing alternative asset manager, well-positioned to continue scaling our platform in 2024 to meet the AI-led demand for digital infrastructure,” said Marc Ganzi, Chief Executive Officer, DigitalBridge.
If compared to the average trading volume of 1.94M shares, DBRG reached a trading volume of 3433936 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about DigitalBridge Group Inc [DBRG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DBRG shares is $22.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DBRG stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
B. Riley Securities have made an estimate for DigitalBridge Group Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 06, 2023. While these analysts kept the previous recommendation, JP Morgan raised their target price from $19 to $25. The new note on the price target was released on September 28, 2023, representing the official price target for DigitalBridge Group Inc stock. Previously, the target price had yet another raise from $12.50 to $17.50, while Keefe Bruyette kept a Outperform rating on DBRG stock.
The Average True Range (ATR) for DigitalBridge Group Inc is set at 0.85, with the Price to Sales ratio for DBRG stock in the period of the last 12 months amounting to 2.04. The Price to Book ratio for the last quarter was 3.02, with the Price to Cash per share for the same quarter was set at 2.14.
Trading performance analysis for DBRG stock
DigitalBridge Group Inc [DBRG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.57. With this latest performance, DBRG shares dropped by -5.81% in over the last four-week period, additionally plugging by 20.53% over the last 6 months – not to mention a rise of 38.26% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DBRG stock in for the last two-week period is set at 47.16, with the RSI for the last a single of trading hit 44.19, and the three-weeks RSI is set at 49.39 for DigitalBridge Group Inc [DBRG]. The present Moving Average for the last 50 days of trading for this stock 18.51, while it was recorded at 19.24 for the last single week of trading, and 16.21 for the last 200 days.
DigitalBridge Group Inc [DBRG]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, DigitalBridge Group Inc posted -1.34/share EPS, while the average EPS was predicted by analysts to be reported at -0.12/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -1,016.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for DBRG.
An analysis of Institutional ownership at DigitalBridge Group Inc [DBRG]
The top three institutional holders of DBRG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in DBRG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in DBRG stock with ownership which is approximately 5.8325%.
