Short Interest in Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) Declines By 6.8%

Diamond Hill Investment Group, Inc. (NASDAQ:DHIL - Get Free Report) was the target of a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 35,900 shares, a drop of 6.8% from the November 30th total of 38,500 shares. Based on an average daily volume of 14,300 shares, the short-interest ratio is presently 2.5 days. Currently, 1.4% of the company's shares are sold short.

Insiders Place Their Bets

In other news, Director James F. Laird, Jr. sold 5,000 shares of Diamond Hill Investment Group stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $168.53, for a total transaction of $842,650.00. Following the completion of the sale, the director now owns 20,000 shares of the company's stock, valued at approximately $3,370,600. The trade was a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Pierre Nicole Renee St. sold 300 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $167.00, for a total value of $50,100.00. Following the completion of the transaction, the director now directly owns 4,187 shares in the company, valued at approximately $699,229. This trade represents a 6.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,600 shares of company stock valued at $2,136,080 over the last 90 days. Insiders own 4.80% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Frazier Financial Advisors LLC purchased a new position in Diamond Hill Investment Group during the 3rd quarter worth $76,000. Western Pacific Wealth Management LP acquired a new position in shares of Diamond Hill Investment Group during the third quarter valued at about $81,000. Allspring Global Investments Holdings LLC raised its position in shares of Diamond Hill Investment Group by 76.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 741 shares of the asset manager's stock valued at $104,000 after purchasing an additional 320 shares during the last quarter. FMR LLC grew its position in Diamond Hill Investment Group by 268.4% during the 3rd quarter. FMR LLC now owns 1,223 shares of the asset manager's stock worth $198,000 after purchasing an additional 891 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in Diamond Hill Investment Group during the 2nd quarter valued at approximately $214,000. 65.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Diamond Hill Investment Group from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, November 6th.

Diamond Hill Investment Group Price Performance

NASDAQ DHIL traded up $0.78 during trading on Tuesday, reaching $155.10. 9,393 shares of the company's stock traded hands, compared to its average volume of 17,155. The company's 50 day simple moving average is $161.06 and its two-hundred day simple moving average is $155.87. Diamond Hill Investment Group has a 12-month low of $135.44 and a 12-month high of $173.25. The firm has a market cap of $422.34 million, a price-to-earnings ratio of 8.78 and a beta of 1.02.

Diamond Hill Investment Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $6.00 annualized dividend and a yield of 3.87%. Diamond Hill Investment Group's dividend payout ratio (DPR) is presently 33.98%.

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.