Bank of New York Mellon Corp Makes New Investment in Daily Journal Corp. (S.C.) $DJCO

Key Points

• Bank of New York Mellon initiated a position in Daily Journal Corp., purchasing 4,682 shares worth approximately $2.8 million and holding about 0.34% of the company.
• Institutional investors own 51.23% of DJCO, with several firms—including Aviva, Rhumbline Advisers, Invesco, Cerity Partners and Deutsche Bank—recently increasing their stakes.
• Analyst sentiment remains cautious, with the stock carrying a consensus “Hold” rating. DJCO reported a quarterly loss of $7.90 per share on $26.98 million in revenue, while its shares opened at $627.87 and remained near their 52-week high.

Bank of New York Mellon Corp purchased a new stake in Daily Journal Corp. (S.C.) (NASDAQ:DJCO - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,682 shares of the company's stock, valued at approximately $2,815,000. Bank of New York Mellon Corp owned approximately 0.34% of Daily Journal Corp. (S.C.) at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aviva PLC increased its position in Daily Journal Corp. (S.C.) by 3.4% during the 4th quarter. Aviva PLC now owns 1,047 shares of the company's stock worth $510,000 after purchasing an additional 34 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Daily Journal Corp. (S.C.) by 1.7% during the second quarter. Rhumbline Advisers now owns 2,097 shares of the company's stock worth $885,000 after buying an additional 35 shares during the last quarter. Invesco Ltd. grew its stake in shares of Daily Journal Corp. (S.C.) by 4.9% during the fourth quarter. Invesco Ltd. now owns 1,010 shares of the company's stock worth $492,000 after buying an additional 47 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Daily Journal Corp. (S.C.) by 1.0% during the fourth quarter. Cerity Partners LLC now owns 4,921 shares of the company's stock worth $2,398,000 after buying an additional 47 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Daily Journal Corp. (S.C.) by 6.7% during the fourth quarter. Deutsche Bank AG now owns 792 shares of the company's stock worth $386,000 after buying an additional 50 shares in the last quarter. 51.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Weiss Ratings downgraded Daily Journal Corp. (S.C.) from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, August 14th. Wall Street Zen upgraded Daily Journal Corp. (S.C.) from a "sell" rating to a "hold" rating in a report on Saturday, August 22nd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Daily Journal Corp. (S.C.) has a consensus rating of "Hold".

Daily Journal Corp. (S.C.) Price Performance

Daily Journal Corp. (S.C.) stock opened at $627.87 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 11.65 and a current ratio of 11.65. Daily Journal Corp. has a 52-week low of $348.63 and a 52-week high of $674.75. The firm has a 50 day moving average price of $593.71 and a two-hundred day moving average price of $541.27. The firm has a market cap of $866.46 million, a price-to-earnings ratio of -76.38 and a beta of 0.85.

Daily Journal Corp. (S.C.) (NASDAQ:DJCO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($7.90) EPS for the quarter. The firm had revenue of $26.98 million during the quarter. Daily Journal Corp. (S.C.) had a negative net margin of 11.63% and a negative return on equity of 3.11%.

Daily Journal Corp. (S.C.) Company Profile

Daily Journal Corporation NASDAQ: DJCO is a diversified media and technology company headquartered in Los Angeles, California. The company operates in two primary segments: legal publishing and software solutions. Its publishing arm produces the Los Angeles Daily Journal and the San Francisco Daily Journal, which provide daily coverage of legal news, court decisions, opinion pieces and public notices to attorneys, judges and legal professionals across California.

In addition to its flagship newspapers, Daily Journal Corp.

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