Short Interest in Daily Journal Co. (NASDAQ:DJCO) Expands By 29.2%

Daily Journal Co. (NASDAQ:DJCO) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 37,600 shares, an increase of 29.2% from the August 15th total of 29,100 shares. Based on an average daily volume of 14,500 shares, the days-to-cover ratio is presently 2.6 days. Approximately 3.0% of the shares of the stock are short sold.

Daily Journal Price Performance

DJCO traded up $5.47 during trading on Monday, hitting $486.90. 16,506 shares of the stock traded hands, compared to its average volume of 10,598. The business has a 50 day moving average price of $450.78 and a 200 day moving average price of $398.80. The company has a market cap of $670.46 million, a price-to-earnings ratio of 30.02 and a beta of 0.92. Daily Journal has a twelve month low of $286.05 and a twelve month high of $509.97. The company has a debt-to-equity ratio of 0.11, a current ratio of 8.58 and a quick ratio of 8.58.

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

Institutional Investors Weigh In On Daily Journal

Hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company acquired a new stake in Daily Journal in the second quarter valued at approximately $210,000. Lazard Asset Management LLC boosted its holdings in shares of Daily Journal by 115.2% during the 1st quarter. Lazard Asset Management LLC now owns 581 shares of the company’s stock valued at $210,000 after acquiring an additional 311 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Daily Journal by 34.9% during the 1st quarter. BNP Paribas Financial Markets now owns 680 shares of the company’s stock valued at $246,000 after acquiring an additional 176 shares in the last quarter. Price T Rowe Associates Inc. MD grew 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 acquiring an additional 64 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new position in Daily Journal in the 2nd quarter worth about $519,000. 51.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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.