Diamond Hill Investment Group (NASDAQ:DHIL) Upgraded to Buy at Wall Street Zen

Key Points

• Diamond Hill Investment Group has received an upgrade from a "hold" rating to a "buy" rating by Wall Street Zen, indicating positive sentiment among analysts.
• The company's recent quarterly earnings reported $2.86 earnings per share with a net margin of 31.71% and revenue of $36.03 million.
• Insider trading activity has increased, with notable purchases made by company directors, implying confidence in the firm's future performance.

Diamond Hill Investment Group (NASDAQ:DHIL - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Diamond Hill Investment Group Stock Down 1.0%

NASDAQ:DHIL traded down $1.48 on Friday, reaching $140.10. The stock had a trading volume of 12,725 shares, compared to its average volume of 25,737. The company has a market capitalization of $382.46 million, a P/E ratio of 7.97 and a beta of 0.81. Diamond Hill Investment Group has a 1-year low of $122.32 and a 1-year high of $173.25. The stock has a fifty day moving average price of $145.98 and a 200-day moving average price of $143.19.

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

Insider Activity

In related news, insider Jo Ann Quinif purchased 2,750 shares of the business's stock in a transaction dated Friday, June 13th. The shares were bought at an average price of $144.01 per share, with a total value of $396,027.50. Following the purchase, the insider directly owned 25,763 shares in the company, valued at $3,710,129.63. This trade represents a 11.95% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 4.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC lifted its holdings in Diamond Hill Investment Group by 68.5% during the first quarter. Signaturefd LLC now owns 273 shares of the asset manager's stock worth $39,000 after acquiring an additional 111 shares in the last quarter. State of Wyoming acquired a new position in shares of Diamond Hill Investment Group in the first quarter valued at approximately $54,000. Tower Research Capital LLC TRC grew its position in Diamond Hill Investment Group by 300.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 425 shares of the asset manager's stock worth $66,000 after buying an additional 319 shares in the last quarter. CWM LLC boosted its holdings in shares of Diamond Hill Investment Group by 969.6% in the 1st quarter. CWM LLC now owns 599 shares of the asset manager's stock valued at $86,000 after purchasing an additional 543 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of Diamond Hill Investment Group by 47.4% in the 2nd quarter. Parallel Advisors LLC now owns 662 shares of the asset manager's stock valued at $96,000 after acquiring an additional 213 shares during the last quarter. Institutional investors own 65.50% of the company's stock.

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.