Daily Journal (NASDAQ:DJCO) Shares Gap Down – Here’s Why

Daily Journal Co. (NASDAQ:DJCO)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $576.19, but opened at $563.54. Daily Journal shares last traded at $556.12, with a volume of 1,167 shares.

Daily Journal Stock Performance

The company’s 50-day moving average is $551.26 and its two-hundred day moving average is $482.56. The company has a quick ratio of 8.58, a current ratio of 8.58 and a debt-to-equity ratio of 0.11. The company has a market cap of $768.50 million, a P/E ratio of 17.12 and a beta of 0.94.

Institutional Investors Weigh In On Daily Journal

Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in Daily Journal by 7.0% during the second quarter. Bank of New York Mellon Corp now owns 4,924 shares of the company’s stock valued at $1,942,000 after purchasing an additional 324 shares during the period. American Century Companies Inc. lifted its position in shares of Daily Journal by 18.4% during the 2nd quarter. American Century Companies Inc. now owns 1,705 shares of the company’s stock valued at $673,000 after buying an additional 265 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Daily Journal by 22.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 29,040 shares of the company’s stock worth $11,455,000 after acquiring an additional 5,413 shares during the period. Renaissance Technologies LLC increased its holdings in Daily Journal by 39.8% in the 2nd quarter. Renaissance Technologies LLC now owns 5,311 shares of the company’s stock worth $2,095,000 after acquiring an additional 1,511 shares during the last quarter. Finally, AltraVue Capital LLC raised its stake in Daily Journal by 195.8% in the 2nd quarter. AltraVue Capital LLC now owns 34,826 shares of the company’s stock valued at $13,738,000 after acquiring an additional 23,052 shares during the period. Hedge funds and other institutional investors own 51.23% of the company’s stock.

About Daily Journal

Daily Journal Corporation operates in publishing of newspapers and websites covering in California, Arizona, Utah, and Australia. It operates in two segments, Traditional Business and Journal Technologies. The company publishes 10 newspapers of general circulation, including Los Angeles Daily Journal, San Francisco Daily Journal, Daily Commerce, The Daily Recorder, The Inter-City Express, San Jose Post-Record, Orange County Reporter, Business Journal, The Daily Transcript, and The Record Reporter.