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

Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) was the recipient of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 25,600 shares, a decline of 9.9% from the August 31st total of 28,400 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily volume of 21,000 shares, the days-to-cover ratio is presently 1.2 days.

Diamond Hill Investment Group Trading Down 0.6 %

DHIL stock traded down $0.95 on Friday, hitting $158.51. The company’s stock had a trading volume of 8,688 shares, compared to its average volume of 18,050. The stock has a market cap of $439.55 million, a price-to-earnings ratio of 10.74 and a beta of 0.99. The firm has a 50 day moving average of $155.89 and a two-hundred day moving average of $151.82. Diamond Hill Investment Group has a 1 year low of $135.44 and a 1 year high of $173.98.

Diamond Hill Investment Group (NASDAQ:DHIL) last announced its earnings results on Wednesday, July 31st. The asset manager reported $2.88 earnings per share for the quarter. The business had revenue of $36.66 million during the quarter. Diamond Hill Investment Group had a net margin of 28.97% and a return on equity of 19.58%.

Diamond Hill Investment Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were paid a $1.50 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $6.00 annualized dividend and a dividend yield of 3.79%. Diamond Hill Investment Group’s dividend payout ratio (DPR) is currently 40.65%.

Insider Buying and Selling

In other Diamond Hill Investment Group news, Director L’quentus Thomas sold 250 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $161.64, for a total transaction of $40,410.00. Following the sale, the director now owns 1,858 shares of the company’s stock, valued at $300,327.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director L’quentus Thomas sold 250 shares of Diamond Hill Investment Group stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $161.64, for a total transaction of $40,410.00. Following the sale, the director now owns 1,858 shares in the company, valued at $300,327.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James F. Laird, Jr. sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $150.20, for a total value of $450,600.00. Following the transaction, the director now owns 25,000 shares in the company, valued at approximately $3,755,000. The disclosure for this sale can be found here. 3.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Diamond Hill Investment Group

Several large investors have recently modified their holdings of DHIL. Rhumbline Advisers increased its stake in Diamond Hill Investment Group by 1.7% in the 2nd quarter. Rhumbline Advisers now owns 4,099 shares of the asset manager’s stock valued at $577,000 after buying an additional 69 shares during the period. Inspire Investing LLC raised its holdings in Diamond Hill Investment Group by 6.6% during the second quarter. Inspire Investing LLC now owns 2,510 shares of the asset manager’s stock worth $353,000 after purchasing an additional 156 shares in the last quarter. Dean Capital Management raised its holdings in Diamond Hill Investment Group by 2.3% during the fourth quarter. Dean Capital Management now owns 9,616 shares of the asset manager’s stock worth $1,592,000 after purchasing an additional 212 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in Diamond Hill Investment Group by 1.7% in the second quarter. Los Angeles Capital Management LLC now owns 16,321 shares of the asset manager’s stock valued at $2,297,000 after purchasing an additional 280 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Diamond Hill Investment Group by 76.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 741 shares of the asset manager’s stock worth $104,000 after buying an additional 320 shares in the last quarter. Hedge funds and other institutional investors own 65.50% of the company’s stock.

About Diamond Hill Investment Group

Diamond Hill Investment Group, Inc, through its subsidiary, Diamond Hill Capital Management, Inc, provides investment advisory and fund administration services in the United States. It offers investment advisory and related services to clients through pooled vehicles, such as private fund; separately managed accounts; collective investment trusts; and other pooled vehicles, including sub-advised funds and model delivery programs.