Diamond Hill Investment Group, Inc. (NASDAQ:DHIL – Get Rating) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 66,600 shares, an increase of 27.6% from the October 15th total of 52,200 shares. Based on an average daily trading volume, of 10,900 shares, the short-interest ratio is currently 6.1 days. Approximately 2.3% of the company’s stock are sold short.
Diamond Hill Investment Group Price Performance
Shares of DHIL traded down $2.03 during mid-day trading on Friday, reaching $178.95. 8,203 shares of the company’s stock traded hands, compared to its average volume of 8,526. The stock has a market cap of $540.43 million, a P/E ratio of 12.93 and a beta of 0.99. The stock’s 50-day moving average is $172.20 and its two-hundred day moving average is $175.57. Diamond Hill Investment Group has a 12 month low of $160.00 and a 12 month high of $234.84.
Diamond Hill Investment Group Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Friday, November 25th will be issued a dividend of $5.50 per share. The ex-dividend date is Wednesday, November 23rd. This represents a $22.00 dividend on an annualized basis and a yield of 12.29%. This is a positive change from Diamond Hill Investment Group’s previous quarterly dividend of $1.50. Diamond Hill Investment Group’s dividend payout ratio is currently 43.35%.
Analysts Set New Price Targets
Separately, StockNews.com began coverage on Diamond Hill Investment Group in a research report on Wednesday, October 12th. They set a “buy” rating on the stock.
Hedge Funds Weigh In On Diamond Hill Investment Group
A number of large investors have recently made changes to their positions in DHIL. Gabelli Funds LLC boosted its stake in shares of Diamond Hill Investment Group by 40.9% during the 3rd quarter. Gabelli Funds LLC now owns 3,859 shares of the asset manager’s stock worth $637,000 after acquiring an additional 1,120 shares in the last quarter. UBS Group AG increased its holdings in shares of Diamond Hill Investment Group by 25.4% during the 3rd quarter. UBS Group AG now owns 301 shares of the asset manager’s stock worth $50,000 after buying an additional 61 shares during the last quarter. JBF Capital Inc. increased its holdings in Diamond Hill Investment Group by 180.2% in the 3rd quarter. JBF Capital Inc. now owns 14,009 shares of the asset manager’s stock valued at $2,311,000 after purchasing an additional 9,009 shares during the last quarter. Dean Investment Associates LLC increased its holdings in Diamond Hill Investment Group by 10.2% in the 3rd quarter. Dean Investment Associates LLC now owns 19,271 shares of the asset manager’s stock valued at $3,180,000 after purchasing an additional 1,786 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Diamond Hill Investment Group by 354.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 641 shares of the asset manager’s stock valued at $108,000 after buying an additional 500 shares during the period. 63.88% of the stock is owned by institutional investors and hedge funds.
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 sponsors, distributes, and offers investment advisory and related services to its clients through pooled investment vehicles, including the Diamond Hill Funds, separately managed accounts, and model delivery programs.
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