DigitalBridge (NYSE:DBRG) pared some gains, now up 4.5%, after activist Legion Partners discussed its stake and said it believes the digital infrastructure firm should consider a sale if it can't fix itself and increase its share price.
Legion Chief Investment Officer Chris Kiper supports the current DigitalBridge (DBRG) leadership, though if the shares don't increase within the next year to 18 months, the company should consider selling itself, Kiper said at a Bloomberg Activism Forum on Tuesday.
Kiper believes DigitalBridge (DBRG), formerly known as Colony Capital, could possibly triple in value over the next two years as the firm raises new funds, according to the report.
Legion Partners owned 3.1 million shares of DigitalBridge (DBRG) as of the end of September.