Diamond Hill Investment Group (NASDAQ:DHIL) Downgraded by StockNews.com to "Buy"

Diamond Hill Investment Group (NASDAQ:DHIL - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a report issued on Friday.

Diamond Hill Investment Group Stock Performance

Shares of NASDAQ:DHIL traded down $0.14 during midday trading on Friday, reaching $147.45. The company had a trading volume of 24,162 shares, compared to its average volume of 16,774. The company has a fifty day simple moving average of $149.54 and a two-hundred day simple moving average of $155.98. The firm has a market cap of $410.94 million, a price-to-earnings ratio of 8.35 and a beta of 1.02. Diamond Hill Investment Group has a 1-year low of $135.44 and a 1-year high of $173.25.

Diamond Hill Investment Group (NASDAQ:DHIL - Get Free Report) last announced its earnings results on Wednesday, February 26th. The asset manager reported $3.66 EPS for the quarter. Diamond Hill Investment Group had a net margin of 33.88% and a return on equity of 20.00%. The company had revenue of $39.12 million during the quarter.

Insider Transactions at Diamond Hill Investment Group

In related news, Director Richard Scott Cooley purchased 1,000 shares of Diamond Hill Investment Group stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of $152.25 per share, with a total value of $152,250.00. Following the completion of the transaction, the director now directly owns 9,387 shares of the company's stock, valued at $1,429,170.75. This trade represents a 11.92 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.50% of the stock is currently owned by insiders.

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Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DHIL. R Squared Ltd acquired a new stake in shares of Diamond Hill Investment Group during the 4th quarter valued at $54,000. Tower Research Capital LLC TRC raised its holdings in shares of Diamond Hill Investment Group by 300.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 425 shares of the asset manager's stock worth $66,000 after acquiring an additional 319 shares in the last quarter. Frazier Financial Advisors LLC acquired a new stake in Diamond Hill Investment Group during the third quarter valued at $76,000. Western Pacific Wealth Management LP purchased a new position in Diamond Hill Investment Group in the third quarter valued at about $81,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Diamond Hill Investment Group in the 4th quarter worth about $109,000. 65.50% of the stock is owned by hedge funds and other institutional investors.

Diamond Hill Investment Group Company Profile

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.