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

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

Diamond Hill Investment Group Price Performance

Shares of Diamond Hill Investment Group stock traded down $1.38 during trading hours on Tuesday, hitting $160.23. The company’s stock had a trading volume of 8,096 shares, compared to its average volume of 17,999. The company has a market capitalization of $444.32 million, a PE ratio of 10.95 and a beta of 0.99. The stock has a 50 day moving average of $156.04 and a 200 day moving average of $151.88. Diamond Hill Investment Group has a 12 month low of $135.44 and a 12 month high of $173.98.

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

Diamond Hill Investment Group Announces Dividend

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

Insider Transactions at Diamond Hill Investment Group

In other Diamond Hill Investment Group news, Director James F. Laird, Jr. sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $150.20, for a total value of $450,600.00. Following the completion of the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at $3,755,000. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director L’quentus Thomas sold 250 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $161.64, for a total transaction of $40,410.00. Following the transaction, the director now 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 hyperlink. Also, Director James F. Laird, Jr. sold 3,000 shares of Diamond Hill Investment Group stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $150.20, for a total value of $450,600.00. Following the sale, the director now directly owns 25,000 shares of the company’s stock, valued at $3,755,000. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DHIL. Algert Global LLC boosted its position in Diamond Hill Investment Group by 64.2% during the 2nd quarter. Algert Global LLC now owns 2,313 shares of the asset manager’s stock worth $326,000 after acquiring an additional 904 shares during the last quarter. Millennium Management LLC increased its position in shares of Diamond Hill Investment Group by 39.3% in the second quarter. Millennium Management LLC now owns 32,022 shares of the asset manager’s stock valued at $4,507,000 after acquiring an additional 9,027 shares during the last quarter. AQR Capital Management LLC grew its stake in Diamond Hill Investment Group by 18.3% in the second quarter. AQR Capital Management LLC now owns 30,826 shares of the asset manager’s stock valued at $4,339,000 after purchasing an additional 4,779 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Diamond Hill Investment Group by 4.9% in the second quarter. Marshall Wace LLP now owns 6,966 shares of the asset manager’s stock valued at $980,000 after buying an additional 328 shares in the last quarter. Finally, Gabelli Funds LLC raised its position in Diamond Hill Investment Group by 18.7% during the second quarter. Gabelli Funds LLC now owns 9,889 shares of the asset manager’s stock worth $1,392,000 after acquiring an additional 1,556 shares in the last quarter. 65.50% of the stock is 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.