Diamond Hill Investment Group (NASDAQ:DHIL) Stock Rating Upgraded by 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 investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

Diamond Hill Investment Group Stock Performance

NASDAQ:DHIL opened at $133.40 on Friday. Diamond Hill Investment Group has a fifty-two week low of $122.32 and a fifty-two week high of $173.25. The stock has a market capitalization of $364.18 million, a P/E ratio of 7.59 and a beta of 0.81. The company's 50-day simple moving average is $145.95 and its 200-day simple moving average is $143.36.

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 net margin of 31.71% and a return on equity of 21.38%. The business had revenue of $36.03 million for the quarter.

Insider Activity at Diamond Hill Investment Group

In related news, Director Richard Scott Cooley acquired 278 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average cost of $134.10 per share, with a total value of $37,279.80. Following the transaction, the director directly owned 13,829 shares of the company's stock, valued at $1,854,468.90. This trade represents a 2.05% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jo Ann Quinif acquired 2,750 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was bought at an average cost of $144.01 per share, with a total value of $396,027.50. Following the completion of the transaction, the insider directly owned 25,763 shares in the company, valued at $3,710,129.63. The trade was a 11.95% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 4.60% of the company's stock.

Hedge Funds Weigh In On Diamond Hill Investment Group

Several hedge funds and other institutional investors have recently modified their holdings of DHIL. Signaturefd LLC raised its position in shares of Diamond Hill Investment Group by 68.5% in the 1st quarter. Signaturefd LLC now owns 273 shares of the asset manager's stock valued at $39,000 after purchasing an additional 111 shares during the last quarter. State of Wyoming purchased a new position in Diamond Hill Investment Group during the 1st quarter worth approximately $54,000. Tower Research Capital LLC TRC raised its position in Diamond Hill Investment Group by 300.9% during the 4th 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 during the last quarter. CWM LLC raised its position in Diamond Hill Investment Group by 969.6% during the 1st quarter. CWM LLC now owns 599 shares of the asset manager's stock worth $86,000 after buying an additional 543 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in Diamond Hill Investment Group by 47.4% during the 2nd quarter. Parallel Advisors LLC now owns 662 shares of the asset manager's stock worth $96,000 after buying an additional 213 shares during the last quarter. 65.50% of the stock is owned by hedge funds and other institutional investors.

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.

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