Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) Sees Significant Drop in Short Interest

Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) was the recipient of a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 25,600 shares, a drop of 9.9% from the August 31st total of 28,400 shares. Based on an average daily volume of 21,000 shares, the short-interest ratio is currently 1.2 days. Approximately 1.0% of the company’s shares are short sold.

Diamond Hill Investment Group Stock Performance

Shares of NASDAQ:DHIL traded down $1.38 during trading on Tuesday, hitting $160.23. The company’s stock had a trading volume of 7,892 shares, compared to its average volume of 17,998. Diamond Hill Investment Group has a fifty-two week low of $135.44 and a fifty-two week high of $173.98. The business has a 50 day moving average price of $156.04 and a two-hundred day moving average price of $151.88. The company has a market capitalization of $444.32 million, a PE ratio of 10.95 and a beta of 0.99.

Diamond Hill Investment Group (NASDAQ:DHIL) last posted its quarterly earnings results on Wednesday, July 31st. The asset manager reported $2.88 earnings per share (EPS) for the quarter. Diamond Hill Investment Group had a return on equity of 19.58% and a net margin of 28.97%. The company had revenue of $36.66 million for the quarter.

Diamond Hill Investment Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend was Thursday, August 29th. Diamond Hill Investment Group’s dividend payout ratio (DPR) is presently 40.65%.

Insider Buying and Selling

In other news, Director L’quentus Thomas sold 250 shares of Diamond Hill Investment Group stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $161.64, for a total value of $40,410.00. Following the completion of the sale, the director now directly owns 1,858 shares of the company’s stock, valued at $300,327.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director L’quentus Thomas sold 250 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $161.64, for a total transaction of $40,410.00. Following the completion of the transaction, the director now directly owns 1,858 shares in the company, valued at approximately $300,327.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James F. Laird, Jr. sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $150.20, for a total transaction of $450,600.00. Following the sale, the director now owns 25,000 shares in the company, valued at $3,755,000. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Diamond Hill Investment Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Carolinas Wealth Consulting LLC purchased a new position in shares of Diamond Hill Investment Group in the 4th quarter valued at about $99,000. Allspring Global Investments Holdings LLC increased its position in shares of Diamond Hill Investment Group by 76.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 741 shares of the asset manager’s stock worth $104,000 after purchasing an additional 320 shares in the last quarter. EntryPoint Capital LLC lifted its stake in Diamond Hill Investment Group by 256.8% in the first quarter. EntryPoint Capital LLC now owns 1,281 shares of the asset manager’s stock valued at $197,000 after buying an additional 922 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Diamond Hill Investment Group in the 2nd quarter valued at $214,000. Finally, HM Payson & Co. boosted its stake in Diamond Hill Investment Group by 286.9% during the 1st quarter. HM Payson & Co. now owns 1,416 shares of the asset manager’s stock worth $218,000 after purchasing an additional 1,050 shares during the period. 65.50% of the stock is currently owned by institutional investors and hedge funds.

About Diamond Hill Investment Group

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.