California State Teachers Retirement System Buys 960,119 Shares of Daily Journal Corp. (S.C.) $DJCO

Key Points

• California State Teachers Retirement System dramatically increased its Daily Journal position by acquiring 960,119 shares, bringing its total to 961,303 shares, or approximately 69.66% of the company. Other institutional investors also initiated stakes, while institutions collectively own 51.23% of the stock.
• DJCO shares opened at $677.05, near their 12-month high of $680.46, with a market capitalization of approximately $934 million. The stock’s 50-day and 200-day moving averages were $600.43 and $547.42, respectively.
• Daily Journal reported a quarterly loss of $7.90 per share on $26.98 million in revenue, alongside negative net margin and return on equity. Analyst sentiment remains cautious, with the stock carrying an average “Hold” rating and one firm downgrading it to “Sell.”

California State Teachers Retirement System increased its position in shares of Daily Journal Corp. (S.C.) (NASDAQ:DJCO - Free Report) by 81,091.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 961,303 shares of the company's stock after acquiring an additional 960,119 shares during the period. California State Teachers Retirement System owned about 69.66% of Daily Journal Corp. (S.C.) worth $577,926,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. bought a new stake in shares of Daily Journal Corp. (S.C.) during the 1st quarter valued at about $4,169,000. BlackRock Inc. acquired a new stake in Daily Journal Corp. (S.C.) during the second quarter worth approximately $63,501,000. Everett Harris & Co. CA bought a new stake in Daily Journal Corp. (S.C.) in the second quarter worth approximately $1,262,000. Corient Private Wealth LP bought a new stake in Daily Journal Corp. (S.C.) in the second quarter worth approximately $2,597,000. Finally, Bank of New York Mellon Corp acquired a new position in Daily Journal Corp. (S.C.) in the second quarter valued at approximately $2,815,000. Institutional investors and hedge funds own 51.23% of the company's stock.

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

Shares of DJCO opened at $677.05 on Tuesday. The company has a current ratio of 11.65, a quick ratio of 11.65 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $934.33 million, a price-to-earnings ratio of -82.37 and a beta of 0.85. The stock has a 50 day moving average of $600.43 and a 200 day moving average of $547.42. Daily Journal Corp. has a 12 month low of $348.63 and a 12 month high of $680.46.

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DJCO. Wall Street Zen cut Daily Journal Corp. (S.C.) from a "hold" rating to a "sell" rating in a report on Saturday. Weiss Ratings downgraded shares of Daily Journal Corp. (S.C.) from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, August 14th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Daily Journal Corp. (S.C.) presently has an average rating of "Hold".

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

Daily Journal Corp. (S.C.) is a diversified information-services company that operates through newspaper publishing and software businesses. Its publications focus primarily on legal, business, and public-sector news and information, with operations historically centered in California and Arizona.

The company publishes the Los Angeles Daily Journal and the San Francisco Daily Journal, which provide legal and business news, court coverage, public notices, and related information services.

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