Diamond Hill Investment Group (NASDAQ:DHIL) Rating Increased to Strong-Buy at StockNews.com

Diamond Hill Investment Group (NASDAQ:DHIL) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Wednesday.

Diamond Hill Investment Group Stock Up 7.0 %

Shares of Diamond Hill Investment Group stock traded up $10.93 during trading on Wednesday, reaching $167.00. 36,952 shares of the company were exchanged, compared to its average volume of 17,204. Diamond Hill Investment Group has a twelve month low of $135.44 and a twelve month high of $173.98. The business has a 50-day moving average price of $156.58 and a 200-day moving average price of $152.95. The firm has a market capitalization of $459.42 million, a price-to-earnings ratio of 9.46 and a beta of 1.00.

Insider Buying and Selling at Diamond Hill Investment Group

In other news, Director James F. Laird, Jr. sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $150.20, for a total value of $450,600.00. Following the transaction, the director now owns 25,000 shares of the company’s stock, valued at approximately $3,755,000. This represents a 0.00 % decrease 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 link. In related news, Director L’quentus Thomas sold 250 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $161.64, for a total transaction of $40,410.00. Following the completion of the transaction, the director now directly owns 1,858 shares of the company’s stock, valued at $300,327.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James F. Laird, Jr. sold 3,000 shares of Diamond Hill Investment Group stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $150.20, for a total value of $450,600.00. Following the completion of the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $3,755,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Diamond Hill Investment Group

A number of hedge funds have recently added to or reduced their stakes in DHIL. Western Pacific Wealth Management LP bought a new position in shares of Diamond Hill Investment Group in the third quarter worth $81,000. Allspring Global Investments Holdings LLC grew its stake in shares of Diamond Hill Investment Group by 76.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 741 shares of the asset manager’s stock valued at $104,000 after buying an additional 320 shares during the last quarter. EntryPoint Capital LLC grew its stake in shares of Diamond Hill Investment Group by 256.8% during the first quarter. EntryPoint Capital LLC now owns 1,281 shares of the asset manager’s stock valued at $197,000 after buying an additional 922 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Diamond Hill Investment Group during the second quarter worth about $214,000. Finally, HM Payson & Co. boosted its holdings in shares of Diamond Hill Investment Group by 286.9% during the first quarter. HM Payson & Co. now owns 1,416 shares of the asset manager’s stock worth $218,000 after purchasing an additional 1,050 shares during the period. Institutional investors and hedge funds 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.