Diamond Hill Investment Group (NASDAQ:DHIL) Upgraded to Buy by BidaskClub

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Diamond Hill Investment Group (NASDAQ:DHIL) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, BidAskClub reports.

Separately, ValuEngine upgraded Diamond Hill Investment Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd.

Shares of NASDAQ:DHIL traded down $1.00 during midday trading on Wednesday, reaching $145.50. 16,600 shares of the company traded hands, compared to its average volume of 16,932. Diamond Hill Investment Group has a 12 month low of $124.57 and a 12 month high of $179.51. The firm has a market capitalization of $491.48 million, a price-to-earnings ratio of 12.78 and a beta of 0.55. The firm’s fifty day moving average price is $136.57 and its two-hundred day moving average price is $138.54.

In related news, CEO Heather E. Brilliant acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average cost of $142.25 per share, for a total transaction of $71,125.00. Following the purchase, the chief executive officer now owns 22,219 shares in the company, valued at approximately $3,160,652.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James F. Laird, Jr. acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average price of $144.40 per share, for a total transaction of $361,000.00. Following the completion of the purchase, the director now owns 27,500 shares in the company, valued at approximately $3,971,000. The disclosure for this purchase can be found here. Insiders own 6.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC increased its stake in Diamond Hill Investment Group by 6.4% in the 2nd quarter. Renaissance Technologies LLC now owns 129,486 shares of the asset manager’s stock worth $18,351,000 after acquiring an additional 7,753 shares during the last quarter. Barr E S & Co. increased its stake in Diamond Hill Investment Group by 6.9% in the 2nd quarter. Barr E S & Co. now owns 89,286 shares of the asset manager’s stock worth $12,654,000 after acquiring an additional 5,744 shares during the last quarter. FMR LLC increased its stake in Diamond Hill Investment Group by 17.5% in the 1st quarter. FMR LLC now owns 40,201 shares of the asset manager’s stock worth $5,629,000 after acquiring an additional 5,998 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Diamond Hill Investment Group by 3.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 26,525 shares of the asset manager’s stock worth $3,759,000 after acquiring an additional 917 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Diamond Hill Investment Group by 2.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 19,051 shares of the asset manager’s stock worth $2,700,000 after acquiring an additional 396 shares during the last quarter. Institutional investors and hedge funds own 55.27% of the company’s stock.

About Diamond Hill Investment Group

Diamond Hill Investment Group, Inc, together with its subsidiaries, provides investment advisory and fund administration services in the United States. It sponsors, distributes, and offers investment advisory and related services to a range of clients, such as corporations, mutual funds, retirement plans, public pension funds, endowments, foundations, financial institutions, and high net worth individuals.

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