Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report issued on Tuesday, July 25th.
Diamond Hill Investment Group (DHIL) traded up 0.05% on Tuesday, hitting $196.66. 4,525 shares of the stock traded hands. Diamond Hill Investment Group has a 52 week low of $170.00 and a 52 week high of $217.68. The stock has a market cap of $640.52 million, a price-to-earnings ratio of 12.87 and a beta of 0.93. The firm’s 50 day moving average is $199.77 and its 200 day moving average is $198.87.
Diamond Hill Investment Group (NASDAQ:DHIL) last posted its earnings results on Wednesday, July 26th. The asset manager reported $3.66 earnings per share (EPS) for the quarter. The company had revenue of $35.54 million during the quarter. Diamond Hill Investment Group had a net margin of 36.52% and a return on equity of 34.36%. Equities analysts anticipate that Diamond Hill Investment Group will post $3.28 earnings per share for the current year.
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In other news, Director Roderick H. Dillon, Jr. sold 7,859 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $205.03, for a total transaction of $1,611,330.77. Following the completion of the sale, the director now owns 105,521 shares in the company, valued at approximately $21,634,970.63. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James F. Laird, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $206.88, for a total transaction of $206,880.00. Following the sale, the director now owns 40,062 shares of the company’s stock, valued at approximately $8,288,026.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,704 shares of company stock valued at $3,220,180. 7.30% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its stake in Diamond Hill Investment Group by 0.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 11,778 shares of the asset manager’s stock worth $2,349,000 after buying an additional 57 shares in the last quarter. Tdam USA Inc. boosted its stake in Diamond Hill Investment Group by 30.6% in the second quarter. Tdam USA Inc. now owns 5,117 shares of the asset manager’s stock worth $1,020,000 after buying an additional 1,198 shares in the last quarter. Rational Advisors LLC acquired a new stake in shares of Diamond Hill Investment Group during the second quarter valued at $279,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Diamond Hill Investment Group during the second quarter valued at $446,000. Institutional investors own 60.15% of the company’s stock.
About Diamond Hill Investment Group
Diamond Hill Investment Group, Inc provides investment advisory and fund administration services. The Company’s subsidiaries include Diamond Hill Capital Management, Inc (DHCM), Beacon Hill Fund Services, Inc (BHFS) and BHIL Distributors, Inc (BHIL). The Company’s primary objective is to fulfill its fiduciary duty to clients.
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