StockNews.com Downgrades Diamond Hill Investment Group (NASDAQ:DHIL) to Buy

Diamond Hill Investment Group (NASDAQ:DHIL) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Friday.

Diamond Hill Investment Group Price Performance

Shares of Diamond Hill Investment Group stock opened at $146.14 on Friday. Diamond Hill Investment Group has a 12 month low of $135.44 and a 12 month high of $173.25. The stock has a market capitalization of $397.94 million, a price-to-earnings ratio of 8.28 and a beta of 1.02. The business has a 50-day moving average of $149.61 and a 200 day moving average of $156.00.

Diamond Hill Investment Group (NASDAQ:DHIL) last announced its quarterly earnings data on Wednesday, February 26th. The asset manager reported $3.66 EPS for the quarter. Diamond Hill Investment Group had a return on equity of 20.00% and a net margin of 33.88%. The business had revenue of $39.12 million during the quarter.

Insider Transactions at Diamond Hill Investment Group

In other Diamond Hill Investment Group 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 purchased at an average price of $152.25 per share, for a total transaction of $152,250.00. Following the completion of the purchase, the director now directly owns 9,387 shares in the company, valued at $1,429,170.75. This trade represents a 11.92 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Diamond Hill Investment Group

Institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd purchased a new stake in Diamond Hill Investment Group during the fourth quarter worth approximately $54,000. Tower Research Capital LLC TRC lifted its stake in Diamond Hill Investment Group by 300.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 425 shares of the asset manager’s stock worth $66,000 after purchasing an additional 319 shares during the last quarter. Frazier Financial Advisors LLC purchased a new stake in Diamond Hill Investment Group during the third quarter worth approximately $76,000. Western Pacific Wealth Management LP purchased a new stake in Diamond Hill Investment Group during the third quarter worth approximately $81,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Diamond Hill Investment Group during the fourth quarter worth approximately $109,000. Hedge funds and other institutional investors own 65.50% of the company’s stock.

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.