Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) Short Interest Up 37.0% in November

Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) saw a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 38,500 shares, an increase of 37.0% from the November 15th total of 28,100 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average daily trading volume, of 14,300 shares, the short-interest ratio is currently 2.7 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Diamond Hill Investment Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 6th.

Insider Transactions at Diamond Hill Investment Group

In other news, Director Paula R. Meyer sold 300 shares of Diamond Hill Investment Group stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $169.00, for a total transaction of $50,700.00. Following the transaction, the director now owns 3,187 shares in the company, valued at approximately $538,603. The trade was a 8.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James F. Laird, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $168.53, for a total transaction of $842,650.00. Following the sale, the director now owns 20,000 shares of the company’s stock, valued at approximately $3,370,600. This trade represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,850 shares of company stock worth $2,176,490 in the last three months. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Diamond Hill Investment Group

A number of institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in shares of Diamond Hill Investment Group in the second quarter worth $278,000. Bank of New York Mellon Corp increased its position in shares of Diamond Hill Investment Group by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 25,910 shares of the asset manager’s stock valued at $3,647,000 after purchasing an additional 1,935 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Diamond Hill Investment Group by 76.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 741 shares of the asset manager’s stock worth $104,000 after purchasing an additional 320 shares during the period. Legato Capital Management LLC grew its position in Diamond Hill Investment Group by 12.6% during the second quarter. Legato Capital Management LLC now owns 8,983 shares of the asset manager’s stock valued at $1,264,000 after buying an additional 1,008 shares during the period. Finally, BCGM Wealth Management LLC grew its position in Diamond Hill Investment Group by 2.9% during the second quarter. BCGM Wealth Management LLC now owns 18,638 shares of the asset manager’s stock valued at $2,623,000 after buying an additional 529 shares during the period. 65.50% of the stock is owned by institutional investors.

Diamond Hill Investment Group Stock Performance

DHIL traded down $1.16 on Friday, reaching $159.46. The company had a trading volume of 20,464 shares, compared to its average volume of 17,073. Diamond Hill Investment Group has a 52-week low of $135.44 and a 52-week high of $173.98. The company has a market cap of $433.73 million, a price-to-earnings ratio of 9.03 and a beta of 1.02. The business has a 50 day simple moving average of $161.81 and a 200 day simple moving average of $155.47.

Diamond Hill Investment Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date was Friday, November 22nd. Diamond Hill Investment Group’s payout ratio is 33.98%.

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.