Diamond Hill Investment Group (NASDAQ:DHIL) Receives Hold (C) Rating from Weiss Ratings

Key Points

• Weiss Ratings has restated its "hold (c)" rating for Diamond Hill Investment Group (NASDAQ:DHIL), while Wall Street Zen has upgraded it from "hold" to a "buy" rating.
• Diamond Hill's stock saw a slight increase of 0.5% during trading, reaching $140.54, with significant trading volume compared to its average.
• Recent insider trades show a decrease in ownership as directors sold shares, with 4.60% of the company's stock held by corporate insiders.

Diamond Hill Investment Group (NASDAQ:DHIL - Get Free Report)'s stock had its "hold (c)" rating restated by research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen raised shares of Diamond Hill Investment Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Diamond Hill Investment Group has a consensus rating of "Hold".

Diamond Hill Investment Group Stock Up 0.5%

Shares of DHIL stock traded up $0.71 during trading on Wednesday, reaching $140.54. The company's stock had a trading volume of 41,505 shares, compared to its average volume of 32,372. The business has a fifty day moving average price of $142.48 and a 200-day moving average price of $141.74. The company has a market cap of $383.67 million, a price-to-earnings ratio of 7.99 and a beta of 0.81. Diamond Hill Investment Group has a one year low of $122.32 and a one year high of $173.25.

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

Insider Buying and Selling at Diamond Hill Investment Group

In other Diamond Hill Investment Group news, Director L'quentus Thomas sold 250 shares of the company's stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $141.10, for a total transaction of $35,275.00. Following the sale, the director directly owned 2,534 shares of the company's stock, valued at approximately $357,547.40. This represents a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Paula R. Meyer sold 350 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $141.80, for a total transaction of $49,630.00. Following the completion of the transaction, the director directly owned 3,763 shares in the company, valued at $533,593.40. The trade was a 8.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.60% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DHIL. GAMMA Investing LLC grew its stake in Diamond Hill Investment Group by 26,184.0% in the 1st quarter. GAMMA Investing LLC now owns 6,571 shares of the asset manager's stock valued at $939,000 after buying an additional 6,546 shares during the last quarter. Rhumbline Advisers grew its stake in Diamond Hill Investment Group by 4.6% in the 1st quarter. Rhumbline Advisers now owns 4,154 shares of the asset manager's stock valued at $593,000 after buying an additional 181 shares during the last quarter. Abundance Wealth Counselors grew its stake in Diamond Hill Investment Group by 6.8% in the 1st quarter. Abundance Wealth Counselors now owns 4,888 shares of the asset manager's stock valued at $698,000 after buying an additional 310 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new position in Diamond Hill Investment Group in the 1st quarter valued at about $3,387,000. Finally, Alps Advisors Inc. grew its stake in Diamond Hill Investment Group by 7.8% in the 1st quarter. Alps Advisors Inc. now owns 31,916 shares of the asset manager's stock valued at $4,559,000 after buying an additional 2,318 shares during the last quarter. Institutional investors and hedge funds own 65.50% of the company's stock.

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.

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