Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 100,600 shares, an increase of 7.1% from the July 31st total of 93,900 shares. Currently, 3.2% of the company’s stock are sold short. Based on an average daily volume of 20,200 shares, the short-interest ratio is currently 5.0 days.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in DHIL. Wealthcare Advisory Partners LLC purchased a new stake in Diamond Hill Investment Group in the first quarter valued at $28,000. HM Payson & Co. acquired a new position in shares of Diamond Hill Investment Group during the 2nd quarter worth about $28,000. Bank of Montreal Can acquired a new position in shares of Diamond Hill Investment Group during the 2nd quarter worth about $39,000. Quantamental Technologies LLC raised its holdings in Diamond Hill Investment Group by 198.1% in the 2nd quarter. Quantamental Technologies LLC now owns 307 shares of the asset manager’s stock valued at $44,000 after acquiring an additional 204 shares during the last quarter. Finally, US Bancorp DE acquired a new stake in Diamond Hill Investment Group in the 2nd quarter valued at about $49,000. 56.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ DHIL traded down $0.83 during mid-day trading on Monday, hitting $136.77. The stock had a trading volume of 330 shares, compared to its average volume of 19,379. The company has a 50 day moving average of $134.46 and a two-hundred day moving average of $139.60. Diamond Hill Investment Group has a twelve month low of $124.57 and a twelve month high of $179.51. The firm has a market cap of $466.57 million, a PE ratio of 11.05 and a beta of 0.59.
Separately, BidaskClub raised Diamond Hill Investment Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 28th.
About Diamond Hill Investment Group
Diamond Hill Investment Group, Inc, together with its subsidiaries, provides investment advisory and fund administration services in the United States. It sponsors, distributes, and offers investment advisory and related services to a range of clients, such as corporations, mutual funds, retirement plans, public pension funds, endowments, foundations, financial institutions, and high net worth individuals.
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