Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) Sees Significant Decrease in Short Interest

Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 96,900 shares, a decline of 7.4% from the August 30th total of 104,700 shares. Based on an average daily volume of 19,700 shares, the days-to-cover ratio is currently 4.9 days. Currently, 3.1% of the shares of the company are sold short.

DHIL stock traded down $0.92 during midday trading on Thursday, reaching $134.64. 120 shares of the company’s stock traded hands, compared to its average volume of 19,021. The company has a 50-day moving average price of $135.03 and a two-hundred day moving average price of $139.05. Diamond Hill Investment Group has a 52 week low of $124.57 and a 52 week high of $179.51. The firm has a market capitalization of $465.76 million, a PE ratio of 11.05 and a beta of 0.57.

Diamond Hill Investment Group (NASDAQ:DHIL) last issued its earnings results on Wednesday, July 31st. The asset manager reported $2.87 earnings per share (EPS) for the quarter. Diamond Hill Investment Group had a net margin of 36.33% and a return on equity of 20.34%. The business had revenue of $33.55 million for the quarter.

A number of research firms recently commented on DHIL. ValuEngine raised shares of Diamond Hill Investment Group from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. BidaskClub raised shares of Diamond Hill Investment Group from a “sell” rating to a “hold” rating in a report on Friday, October 4th.

A number of hedge funds have recently modified their holdings of DHIL. Nuveen Asset Management LLC bought a new stake in Diamond Hill Investment Group during the 2nd quarter valued at $2,611,000. Balter Liquid Alternatives LLC raised its holdings in Diamond Hill Investment Group by 209.2% during the 2nd quarter. Balter Liquid Alternatives LLC now owns 17,757 shares of the asset manager’s stock valued at $2,517,000 after acquiring an additional 12,015 shares during the period. Aperio Group LLC raised its holdings in Diamond Hill Investment Group by 95.5% during the 2nd quarter. Aperio Group LLC now owns 16,055 shares of the asset manager’s stock valued at $2,275,000 after acquiring an additional 7,842 shares during the period. Renaissance Technologies LLC raised its holdings in Diamond Hill Investment Group by 6.4% during the 2nd quarter. Renaissance Technologies LLC now owns 129,486 shares of the asset manager’s stock valued at $18,351,000 after acquiring an additional 7,753 shares during the period. Finally, FMR LLC raised its holdings in Diamond Hill Investment Group by 17.5% during the 1st quarter. FMR LLC now owns 40,201 shares of the asset manager’s stock valued at $5,629,000 after acquiring an additional 5,998 shares during the period. 56.46% of the stock is currently owned by institutional investors and hedge funds.

About Diamond Hill Investment Group

Diamond Hill Investment Group, Inc, together with its subsidiaries, provides investment advisory and fund administration services in the United States. It sponsors, distributes, and offers investment advisory and related services to a range of clients, such as corporations, mutual funds, retirement plans, public pension funds, endowments, foundations, financial institutions, and high net worth individuals.

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