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

Daily Journal Co. (NASDAQ:DJCO) saw a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 27,200 shares, an increase of 6.3% from the July 15th total of 25,600 shares. Currently, 2.2% of the company’s shares are short sold. Based on an average daily trading volume, of 11,500 shares, the days-to-cover ratio is currently 2.4 days.

Daily Journal Stock Up 0.9 %

DJCO stock traded up $4.18 during trading hours on Friday, reaching $448.71. 4,160 shares of the stock were exchanged, compared to its average volume of 9,959. The firm’s 50-day moving average is $412.54 and its 200-day moving average is $377.04. Daily Journal has a 12 month low of $286.05 and a 12 month high of $474.01. The company has a market cap of $617.87 million, a price-to-earnings ratio of 27.82 and a beta of 0.95. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.97 and a quick ratio of 8.97.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Daily Journal from a “hold” rating to a “sell” rating in a research note on Thursday.

Institutional Investors Weigh In On Daily Journal

Several hedge funds have recently bought and sold shares of DJCO. Pacific Global Investment Management Co. acquired a new position in Daily Journal in the fourth quarter valued at about $208,000. Lazard Asset Management LLC lifted its stake in Daily Journal by 115.2% during the first quarter. Lazard Asset Management LLC now owns 581 shares of the company’s stock worth $210,000 after purchasing an additional 311 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Daily Journal in the 2nd quarter valued at $210,000. BNP Paribas Financial Markets increased its stake in shares of Daily Journal by 34.9% in the 1st quarter. BNP Paribas Financial Markets now owns 680 shares of the company’s stock valued at $246,000 after purchasing an additional 176 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings 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 buying an additional 64 shares in the last quarter. 51.23% of the stock is currently owned by institutional investors and hedge funds.

Daily Journal Company Profile

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.