Daily Journal Co. (NASDAQ:DJCO) Sees Large Increase in Short Interest

Daily Journal Co. (NASDAQ:DJCO) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 53,600 shares, an increase of 5.5% from the September 30th total of 50,800 shares. Approximately 4.3% of the shares of the stock are short sold. Based on an average daily volume of 15,500 shares, the days-to-cover ratio is presently 3.5 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DJCO. Lazard Asset Management LLC lifted its position in Daily Journal by 115.2% during the 1st quarter. Lazard Asset Management LLC now owns 581 shares of the company’s stock worth $210,000 after buying an additional 311 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in Daily Journal during the 2nd quarter worth about $210,000. SG Americas Securities LLC acquired a new position in Daily Journal during the 3rd quarter worth about $245,000. BNP Paribas Financial Markets lifted its position in Daily Journal by 34.9% during the 1st quarter. BNP Paribas Financial Markets now owns 680 shares of the company’s stock worth $246,000 after buying an additional 176 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in 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 buying an additional 64 shares in the last quarter. Institutional investors and hedge funds own 51.23% of the company’s stock.

Daily Journal Stock Down 0.8 %

DJCO opened at $498.08 on Thursday. The firm’s 50-day simple moving average is $483.44 and its 200-day simple moving average is $425.55. The company has a debt-to-equity ratio of 0.11, a quick ratio of 8.58 and a current ratio of 8.58. Daily Journal has a twelve month low of $286.63 and a twelve month high of $512.49. The firm has a market cap of $685.86 million, a price-to-earnings ratio of 30.88 and a beta of 0.91.

Daily Journal (NASDAQ:DJCO) last issued its quarterly earnings results on Wednesday, August 14th. The company reported $0.79 earnings per share (EPS) for the quarter. The business had revenue of $17.49 million for the quarter. Daily Journal had a net margin of 62.70% and a return on equity of 15.90%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Daily Journal from a “sell” rating to a “hold” rating in a report on Friday, August 23rd.

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.