Diamond Hill Investment Group (DHIL) Lowered to Sell at BidaskClub

BidaskClub downgraded shares of Diamond Hill Investment Group (NASDAQ:DHIL) from a hold rating to a sell rating in a research report report published on Tuesday.

Diamond Hill Investment Group (NASDAQ DHIL) traded up $0.83 during trading hours on Tuesday, hitting $213.46. 7,403 shares of the stock traded hands, compared to its average volume of 7,612. Diamond Hill Investment Group has a one year low of $182.50 and a one year high of $219.90. The company has a market cap of $737.67, a price-to-earnings ratio of 14.20 and a beta of 0.94.

Diamond Hill Investment Group (NASDAQ:DHIL) last posted its quarterly earnings data on Thursday, October 26th. The asset manager reported $3.67 earnings per share for the quarter. Diamond Hill Investment Group had a net margin of 35.08% and a return on equity of 31.76%. The company had revenue of $36.77 million during the quarter.

In other news, Director Roderick H. Dillon, Jr. sold 2,127 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $215.46, for a total transaction of $458,283.42. Following the completion of the transaction, the director now owns 93,213 shares in the company, valued at approximately $20,083,672.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director James F. Laird, Jr. sold 500 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $208.05, for a total transaction of $104,025.00. Following the transaction, the director now owns 34,302 shares of the company’s stock, valued at approximately $7,136,531.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,179 shares of company stock valued at $4,524,228. Insiders own 7.30% of the company’s stock.

Several large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its position in shares of Diamond Hill Investment Group by 1.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,438 shares of the asset manager’s stock valued at $486,000 after purchasing an additional 32 shares in the last quarter. Stifel Financial Corp lifted its stake in Diamond Hill Investment Group by 2.9% during the second quarter. Stifel Financial Corp now owns 1,533 shares of the asset manager’s stock valued at $306,000 after buying an additional 43 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Diamond Hill Investment Group by 0.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 11,778 shares of the asset manager’s stock valued at $2,349,000 after buying an additional 57 shares in the last quarter. Voya Investment Management LLC lifted its stake in Diamond Hill Investment Group by 14.9% during the second quarter. Voya Investment Management LLC now owns 1,564 shares of the asset manager’s stock valued at $312,000 after buying an additional 203 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Diamond Hill Investment Group by 4.8% during the second quarter. Victory Capital Management Inc. now owns 5,462 shares of the asset manager’s stock valued at $1,089,000 after buying an additional 250 shares in the last quarter. Institutional investors own 60.95% of the company’s stock.

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About Diamond Hill Investment Group

Diamond Hill Investment Group, Inc provides investment advisory and fund administration services. The Company’s subsidiaries include Diamond Hill Capital Management, Inc (DHCM), Beacon Hill Fund Services, Inc (BHFS) and BHIL Distributors, Inc (BHIL). The Company’s primary objective is to fulfill its fiduciary duty to clients.

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