Diamond Hill Investment Group, Inc.’s Trend Down, Especially After Today’s Gap Down

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The stock of Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) gapped down by $0.56 today and has $191.91 target or 5.00% below today’s $202.01 share price. The 7 months technical chart setup indicates high risk for the $721.30M company. The gap down was reported on Dec, 12 by Barchart.com. If the $191.91 price target is reached, the company will be worth $36.07M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 4.57% or $9.68 on December 11, hitting $202.01. About 11,842 shares traded hands. Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) has risen 9.02% since May 11, 2015 and is uptrending. It has outperformed by 13.44% the S&P500.

According to Zacks Investment Research, “Diamond Hill Investment Group, Inc. is an independent investment management firm. It provides investment management services to institutions and individuals through mutual funds, separate accounts, and limited partnerships. The Company also offers fund administration and statutory underwriting services, including portfolio and regulatory compliance, treasury and financial oversight, statutory underwriting, and oversight of back-office service providers, such as the custodian, fund accountant, and transfer agent, as well as general business management of the mutual fund complex. Diamond Hill Investment Group, Inc. is headquartered in Columbus, Ohio.” Get a free copy of the Zacks research report on Diamond Hill Investment Group, Inc. (DHIL).

The institutional sentiment decreased to 0.77 in Q3 2015. Its down 0.86, from 1.63 in 2015Q2. The ratio dived, as 7 funds sold all Diamond Hill Investment Group, Inc. shares owned while 32 reduced positions. 7 funds bought stakes while 23 increased positions. They now own 6.27 million shares or 243.14% more from 1.83 million shares in 2015Q2.

Grandeur Peak Global Advisors Llc holds 1.98% of its portfolio in Diamond Hill Investment Group, Inc. for 47,700 shares. Broad Run Investment Management Llc owns 164,972 shares or 1.74% of their US portfolio. Moreover, Motley Fool Asset Management Llc has 1.06% invested in the company for 29,023 shares. The California-based Falcon Point Capital Llc has invested 0.88% in the stock. Akre Capital Management Llc, a Virginia-based fund reported 145,500 shares.

Since May 12, 2015, the stock had 0 buys, and 6 insider sales for $7.80 million net activity. Dillon Roderick H Jr sold 3,515 shares worth $704,090. Laird James F Jr sold 3,530 shares worth $724,956.

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