Short Interest in Daily Journal Co. (NASDAQ:DJCO) Expands By 9.4%

Daily Journal Co. (NASDAQ:DJCO) was the target of a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 25,600 shares, a growth of 9.4% from the June 30th total of 23,400 shares. Approximately 2.1% of the company’s shares are short sold. Based on an average trading volume of 9,900 shares, the days-to-cover ratio is currently 2.6 days.

Institutional Trading of Daily Journal

Hedge funds and other institutional investors have recently modified their holdings of the business. Legato Capital Management LLC lifted its position in Daily Journal by 199.9% in the second quarter. Legato Capital Management LLC now owns 6,993 shares of the company’s stock valued at $2,759,000 after buying an additional 4,661 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Daily Journal by 7.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,924 shares of the company’s stock worth $1,942,000 after acquiring an additional 324 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Daily Journal by 7.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 896 shares of the company’s stock worth $325,000 after purchasing an additional 64 shares during the period. Lazard Asset Management LLC increased its holdings in Daily Journal by 115.2% in the 1st quarter. Lazard Asset Management LLC now owns 581 shares of the company’s stock valued at $210,000 after purchasing an additional 311 shares during the last quarter. Finally, Swiss National Bank raised its position in Daily Journal by 4.1% in the first quarter. Swiss National Bank now owns 2,542 shares of the company’s stock valued at $919,000 after purchasing an additional 100 shares during the period. 51.23% of the stock is owned by institutional investors and hedge funds.

Daily Journal Trading Up 0.2 %

Shares of NASDAQ DJCO traded up $1.03 during midday trading on Tuesday, reaching $454.50. 700 shares of the stock were exchanged, compared to its average volume of 9,079. The stock has a market capitalization of $627.21 million, a P/E ratio of 28.11 and a beta of 0.95. The company has a debt-to-equity ratio of 0.13, a quick ratio of 8.97 and a current ratio of 8.97. The company has a 50 day simple moving average of $396.82 and a 200 day simple moving average of $366.35. Daily Journal has a twelve month low of $286.05 and a twelve month high of $474.01.

Daily Journal (NASDAQ:DJCO) last issued its quarterly earnings data on Tuesday, May 14th. The company reported $11.19 earnings per share for the quarter. Daily Journal had a return on equity of 16.55% and a net margin of 30.94%. The company had revenue of $16.57 million during the quarter.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Daily Journal from a “sell” rating to a “hold” rating in a research report on Tuesday, May 21st.

About Daily Journal

Daily Journal Corporation operates in publishing of newspapers and websites covering in California, Arizona, Utah, and Australia. It operates in two segments, Traditional Business and Journal Technologies. The company publishes 10 newspapers of general circulation, including Los Angeles Daily Journal, San Francisco Daily Journal, Daily Commerce, The Daily Recorder, The Inter-City Express, San Jose Post-Record, Orange County Reporter, Business Journal, The Daily Transcript, and The Record Reporter.