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 decrease in short interest during the month of December. As of December 15th, there was short interest totalling 35,900 shares, a decrease of 6.8% from the November 30th total of 38,500 shares. Currently, 1.4% of the company’s stock are sold short. Based on an average daily volume of 14,300 shares, the short-interest ratio is presently 2.5 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Diamond Hill Investment Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th.

Insider Buying and Selling at Diamond Hill Investment Group

In other news, Director Richard Scott Cooley bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average cost of $152.25 per share, with a total value of $152,250.00. Following the completion of the purchase, the director now owns 9,387 shares of the company’s stock, valued at $1,429,170.75. This represents a 11.92 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Pierre Nicole Renee St. sold 300 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $167.00, for a total transaction of $50,100.00. Following the sale, the director now directly owns 4,187 shares in the company, valued at $699,229. This trade represents a 6.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,600 shares of company stock worth $2,136,080 over the last ninety days. 4.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DHIL. Frazier Financial Advisors LLC bought a new stake in shares of Diamond Hill Investment Group during the third quarter worth approximately $76,000. Western Pacific Wealth Management LP acquired a new position in Diamond Hill Investment Group in the 3rd quarter valued at $81,000. Allspring Global Investments Holdings LLC increased its position in 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 during the period. FMR LLC lifted its holdings in shares of Diamond Hill Investment Group by 268.4% during the third quarter. FMR LLC now owns 1,223 shares of the asset manager’s stock worth $198,000 after buying an additional 891 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new stake in shares of Diamond Hill Investment Group in the third quarter valued at about $217,000. Institutional investors and hedge funds own 65.50% of the company’s stock.

Diamond Hill Investment Group Trading Up 0.5 %

DHIL opened at $155.10 on Thursday. The stock’s fifty day simple moving average is $161.11 and its 200 day simple moving average is $155.86. Diamond Hill Investment Group has a 1-year low of $135.44 and a 1-year high of $173.25. The stock has a market cap of $422.34 million, a PE ratio of 8.78 and a beta of 1.02.

Diamond Hill Investment Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date was Friday, November 22nd. Diamond Hill Investment Group’s dividend payout ratio is presently 33.98%.

Diamond Hill Investment Group Company Profile

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.