Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) Sees Significant Decline in Short Interest

Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totalling 29,000 shares, a decline of 6.8% from the July 15th total of 31,100 shares. Approximately 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 21,800 shares, the days-to-cover ratio is currently 1.3 days.

Insider Buying and Selling

In related news, Director James F. Laird, Jr. sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $150.20, for a total value of $450,600.00. Following the sale, the director now owns 25,000 shares of the company’s stock, valued at $3,755,000. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Diamond Hill Investment Group news, Director Richard Scott Cooley purchased 500 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was bought at an average cost of $150.00 per share, with a total value of $75,000.00. Following the acquisition, the director now directly owns 8,387 shares of the company’s stock, valued at $1,258,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James F. Laird, Jr. sold 3,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $150.20, for a total value of $450,600.00. Following the completion of the transaction, the director now owns 25,000 shares in the company, valued at approximately $3,755,000. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 1,150 shares of company stock worth $165,541. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DHIL. Tower Research Capital LLC TRC lifted its position in Diamond Hill Investment Group by 91.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 159 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 76 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Diamond Hill Investment Group in the 4th quarter valued at about $70,000. Carolinas Wealth Consulting LLC acquired a new stake in shares of Diamond Hill Investment Group in the 4th quarter valued at about $99,000. Quest Partners LLC acquired a new stake in shares of Diamond Hill Investment Group in the 4th quarter valued at about $170,000. Finally, EntryPoint Capital LLC grew its stake in Diamond Hill Investment Group by 256.8% during the 1st quarter. EntryPoint Capital LLC now owns 1,281 shares of the asset manager’s stock worth $197,000 after buying an additional 922 shares during the last quarter. 65.50% of the stock is owned by hedge funds and other institutional investors.

Diamond Hill Investment Group Stock Up 1.6 %

Shares of DHIL opened at $156.00 on Monday. The company has a market capitalization of $432.59 million, a price-to-earnings ratio of 10.57 and a beta of 1.00. Diamond Hill Investment Group has a 52-week low of $135.44 and a 52-week high of $175.54. The stock has a 50 day moving average price of $148.66 and a 200 day moving average price of $150.96.

Diamond Hill Investment Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be given a dividend of $1.50 per share. The ex-dividend date is Thursday, August 29th. This represents a $6.00 annualized dividend and a dividend yield of 3.85%. Diamond Hill Investment Group’s dividend payout ratio is presently 40.65%.

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.