Short Interest in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) Increases By 26.6%

Key Points

• Short interest in Diamond Hill Investment Group rose by 26.6% in August, reaching 68,600 shares, which constitutes 2.8% of the company's total shares.
• The company announced a quarterly dividend of $1.50 per share, leading to an annualized dividend yield of 4.3%.
• Wall Street analysts upgraded Diamond Hill Investment Group from a "hold" to a "buy" rating, indicating a positive outlook for the firm's growth.

Diamond Hill Investment Group, Inc. (NASDAQ:DHIL - Get Free Report) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 68,600 shares, an increase of 26.6% from the August 15th total of 54,200 shares. Approximately 2.8% of the shares of the company are short sold. Based on an average daily trading volume, of 40,200 shares, the short-interest ratio is currently 1.7 days. Based on an average daily trading volume, of 40,200 shares, the short-interest ratio is currently 1.7 days. Approximately 2.8% of the shares of the company are short sold.

Insider Buying and Selling

In other Diamond Hill Investment Group news, Director Paula R. Meyer sold 350 shares of the company's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $141.80, for a total value of $49,630.00. Following the transaction, the director owned 3,763 shares of the company's stock, valued at approximately $533,593.40. This represents a 8.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Diamond Hill Investment Group by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 171,378 shares of the asset manager's stock worth $24,480,000 after buying an additional 5,832 shares during the period. Royce & Associates LP increased its position in Diamond Hill Investment Group by 1.5% during the 1st quarter. Royce & Associates LP now owns 169,256 shares of the asset manager's stock worth $24,177,000 after purchasing an additional 2,563 shares in the last quarter. Geode Capital Management LLC increased its position in Diamond Hill Investment Group by 4.4% in the 2nd quarter. Geode Capital Management LLC now owns 80,382 shares of the asset manager's stock valued at $11,682,000 after acquiring an additional 3,379 shares during the period. American Century Companies Inc. boosted its stake in Diamond Hill Investment Group by 16.8% during the second quarter. American Century Companies Inc. now owns 59,928 shares of the asset manager's stock worth $8,708,000 after acquiring an additional 8,631 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Diamond Hill Investment Group by 69.4% in the first quarter. Millennium Management LLC now owns 48,739 shares of the asset manager's stock valued at $6,962,000 after buying an additional 19,962 shares in the last quarter. Institutional investors own 65.50% of the company's stock.

Diamond Hill Investment Group Trading Down 1.7%

Diamond Hill Investment Group stock traded down $2.45 on Friday, reaching $140.30. 87,529 shares of the stock were exchanged, compared to its average volume of 27,306. The firm has a fifty day moving average price of $145.28 and a two-hundred day moving average price of $142.19. The stock has a market cap of $383.02 million, a PE ratio of 7.98 and a beta of 0.80. Diamond Hill Investment Group has a twelve month low of $122.32 and a twelve month high of $173.25.

Diamond Hill Investment Group (NASDAQ:DHIL - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The asset manager reported $2.86 earnings per share (EPS) for the quarter. The firm had revenue of $36.03 million during the quarter. Diamond Hill Investment Group had a net margin of 31.71% and a return on equity of 21.38%.

Diamond Hill Investment Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Friday, August 29th. Diamond Hill Investment Group's dividend payout ratio (DPR) is presently 34.13%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Diamond Hill Investment Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd.

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 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.