Daily Journal Co. (NASDAQ:DJCO) Short Interest Down 5.8% in October

Daily Journal Co. (NASDAQ:DJCO) was the target of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 6,500 shares, a decline of 5.8% from the October 15th total of 6,900 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average daily volume of 2,200 shares, the days-to-cover ratio is currently 3.0 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC increased its holdings in shares of Daily Journal by 10.4% during the 1st quarter. SG Americas Securities LLC now owns 533 shares of the company’s stock valued at $152,000 after acquiring an additional 50 shares during the last quarter. Royal Bank of Canada grew its holdings in Daily Journal by 5.2% in the 3rd quarter. Royal Bank of Canada now owns 1,019 shares of the company’s stock valued at $263,000 after buying an additional 50 shares during the last quarter. UBS Group AG grew its holdings in Daily Journal by 13.4% in the 1st quarter. UBS Group AG now owns 449 shares of the company’s stock valued at $128,000 after buying an additional 53 shares during the last quarter. Bank of America Corp DE grew its holdings in Daily Journal by 0.8% in the 1st quarter. Bank of America Corp DE now owns 7,256 shares of the company’s stock valued at $2,068,000 after buying an additional 58 shares during the last quarter. Finally, FMR LLC grew its holdings in Daily Journal by 81.8% in the 3rd quarter. FMR LLC now owns 140 shares of the company’s stock valued at $41,000 after buying an additional 63 shares during the last quarter. Institutional investors and hedge funds own 46.91% of the company’s stock.

Daily Journal Stock Performance

DJCO traded up $2.10 during trading on Friday, reaching $326.10. 6,722 shares of the company were exchanged, compared to its average volume of 2,297. The company has a current ratio of 9.24, a quick ratio of 9.24 and a debt-to-equity ratio of 0.40. Daily Journal has a 52 week low of $250.00 and a 52 week high of $327.80. The firm has a 50 day moving average of $297.29 and a 200 day moving average of $292.18. The stock has a market cap of $450.02 million, a P/E ratio of -26.69 and a beta of 0.80.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Daily Journal in a research report on Thursday, October 5th. They set a “hold” rating on the stock.

About Daily Journal

Daily Journal Corporation operates in publishing of newspapers and websites covering in California, Arizona, Utah, and Australia. It operates in two segments, Traditional Business and Journal Technologies. The company publishes 10 newspapers of general circulation, including Los Angeles Daily Journal, San Francisco Daily Journal, Daily Commerce, The Daily Recorder, The Inter-City Express, San Jose Post-Record, Orange County Reporter, The Daily Transcript, Business Journal, and The Record Reporter.