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

Diamond Hill Investment Group, Inc. (NASDAQ:DHILGet Free Report) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 34,000 shares, a growth of 6.6% from the April 30th total of 31,900 shares. Currently, 1.3% of the company’s stock are sold short. Based on an average daily trading volume, of 17,100 shares, the days-to-cover ratio is currently 2.0 days.

Diamond Hill Investment Group Stock Performance

Shares of NASDAQ:DHIL opened at $150.01 on Tuesday. The company has a market cap of $415.53 million, a P/E ratio of 10.16 and a beta of 0.99. The stock’s 50-day moving average is $152.02 and its 200-day moving average is $156.49. Diamond Hill Investment Group has a 52-week low of $144.35 and a 52-week high of $188.28.

Diamond Hill Investment Group (NASDAQ:DHILGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The asset manager reported $3.00 earnings per share (EPS) for the quarter. The company had revenue of $36.30 million for the quarter. Diamond Hill Investment Group had a return on equity of 18.75% and a net margin of 30.60%.

Diamond Hill Investment Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend is Monday, June 3rd. Diamond Hill Investment Group’s dividend payout ratio is currently 40.65%.

Insiders Place Their Bets

In other Diamond Hill Investment Group news, Director James F. Laird, Jr. sold 2,500 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $158.40, for a total transaction of $396,000.00. Following the transaction, the director now directly owns 28,000 shares of the company’s stock, valued at $4,435,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Diamond Hill Investment Group

Several hedge funds and other institutional investors have recently made changes to their positions in DHIL. Tower Research Capital LLC TRC lifted its stake in shares of 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 buying an additional 76 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Diamond Hill Investment Group in the fourth quarter valued at about $70,000. Sunbelt Securities Inc. lifted its stake in shares of Diamond Hill Investment Group by 1,000.0% in the third quarter. Sunbelt Securities Inc. now owns 550 shares of the asset manager’s stock valued at $93,000 after buying an additional 500 shares during the period. Carolinas Wealth Consulting LLC bought a new stake in shares of Diamond Hill Investment Group in the fourth quarter valued at about $99,000. Finally, Quantbot Technologies LP bought a new stake in shares of Diamond Hill Investment Group in the third quarter valued at about $111,000. 65.50% of the stock is owned by institutional investors and hedge funds.

About Diamond Hill Investment Group

(Get Free Report)

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.

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