Diamond Hill Investment Group (NASDAQ:DHIL) Downgraded to Hold Rating by Wall Street Zen

Diamond Hill Investment Group (NASDAQ:DHIL) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Diamond Hill Investment Group in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Diamond Hill Investment Group presently has an average rating of “Hold”.

Diamond Hill Investment Group Stock Up 0.2%

DHIL stock opened at $131.60 on Friday. The company has a market cap of $355.98 million, a P/E ratio of 7.49 and a beta of 0.84. Diamond Hill Investment Group has a twelve month low of $122.32 and a twelve month high of $173.25. The business has a fifty day moving average of $138.38 and a 200-day moving average of $141.51.

Diamond Hill Investment Group (NASDAQ:DHIL) last posted its quarterly earnings results on Thursday, October 30th. The asset manager reported $3.24 earnings per share (EPS) for the quarter. The business had revenue of $37.40 million for the quarter. Diamond Hill Investment Group had a return on equity of 21.38% and a net margin of 31.71%.

Insider Transactions at Diamond Hill Investment Group

In related news, Director Paula R. Meyer sold 350 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $141.80, for a total value of $49,630.00. Following the sale, the director directly owned 3,763 shares in the company, valued at $533,593.40. This trade represents a 8.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director L’quentus Thomas sold 250 shares of Diamond Hill Investment Group stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $141.10, for a total transaction of $35,275.00. Following the transaction, the director directly owned 2,534 shares in the company, valued at $357,547.40. The trade was a 8.98% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Diamond Hill Investment Group

Several large investors have recently bought and sold shares of the company. Concurrent Investment Advisors LLC boosted its position in shares of Diamond Hill Investment Group by 172.5% during the third quarter. Concurrent Investment Advisors LLC now owns 67,613 shares of the asset manager’s stock worth $9,466,000 after purchasing an additional 42,800 shares in the last quarter. Millennium Management LLC raised its stake in Diamond Hill Investment Group by 69.4% during the 1st quarter. Millennium Management LLC now owns 48,739 shares of the asset manager’s stock worth $6,962,000 after buying an additional 19,962 shares during the period. American Century Companies Inc. raised its stake in Diamond Hill Investment Group by 23.5% during the 1st quarter. American Century Companies Inc. now owns 51,297 shares of the asset manager’s stock worth $7,327,000 after buying an additional 9,770 shares during the period. AQR Capital Management LLC lifted its holdings in Diamond Hill Investment Group by 29.6% during the first quarter. AQR Capital Management LLC now owns 37,990 shares of the asset manager’s stock worth $5,426,000 after acquiring an additional 8,675 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Diamond Hill Investment Group in the first quarter valued at about $1,219,000. Institutional investors own 65.50% of the company’s stock.

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.