Daily Journal (NASDAQ:DJCO) Sees Large Volume Increase – Here’s What Happened

Shares of Daily Journal Co. (NASDAQ:DJCO) saw unusually-strong trading volume on Friday . Approximately 4,553 shares traded hands during mid-day trading, a decline of 59% from the previous session’s volume of 11,205 shares.The stock last traded at $571.60 and had previously closed at $572.90.

Analyst Ratings Changes

Separately, StockNews.com raised Daily Journal from a “sell” rating to a “hold” rating in a report on Friday, August 23rd.

Daily Journal Stock Down 1.4 %

The company has a 50-day moving average of $534.55 and a two-hundred day moving average of $469.92. The company has a debt-to-equity ratio of 0.11, a current ratio of 8.58 and a quick ratio of 8.58. The company has a market capitalization of $779.71 million, a PE ratio of 17.33 and a beta of 0.94.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AltraVue Capital LLC grew its stake in Daily Journal by 195.8% during the second quarter. AltraVue Capital LLC now owns 34,826 shares of the company’s stock valued at $13,738,000 after acquiring an additional 23,052 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Daily Journal by 133.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,622 shares of the company’s stock valued at $4,226,000 after purchasing an additional 4,924 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Daily Journal by 172.9% in the third quarter. BNP Paribas Financial Markets now owns 1,337 shares of the company’s stock worth $655,000 after purchasing an additional 847 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of Daily Journal in the second quarter worth about $519,000. Finally, Renaissance Technologies LLC lifted its position in shares of Daily Journal by 39.8% in the second quarter. Renaissance Technologies LLC now owns 5,311 shares of the company’s stock worth $2,095,000 after buying an additional 1,511 shares in the last quarter. 51.23% of the stock is currently owned by institutional investors.

Daily Journal Company Profile

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, Business Journal, The Daily Transcript, and The Record Reporter.