Daily Journal (NASDAQ:DJCO) Sees Strong Trading Volume – Still a Buy?

Daily Journal Co. (NASDAQ:DJCO) saw strong trading volume on Friday . 4,553 shares were traded during mid-day trading, a decline of 59% from the previous session’s volume of 11,205 shares.The stock last traded at $571.60 and had previously closed at $572.90.

Wall Street Analyst Weigh In

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

Daily Journal Price Performance

The firm has a market capitalization of $786.61 million, a PE ratio of 17.57 and a beta of 0.94. The company has a current ratio of 8.58, a quick ratio of 8.58 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average price of $532.68 and a two-hundred day moving average price of $468.11.

Institutional Investors Weigh In On Daily Journal

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DJCO. FMR LLC grew its position in shares of Daily Journal by 23.9% during the third quarter. FMR LLC now owns 202 shares of the company’s stock worth $99,000 after acquiring an additional 39 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake 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 purchasing an additional 64 shares during the period. American Century Companies Inc. boosted its stake in Daily Journal by 18.4% during the 2nd quarter. American Century Companies Inc. now owns 1,705 shares of the company’s stock worth $673,000 after purchasing an additional 265 shares during the period. Bank of New York Mellon Corp grew its position in Daily Journal by 7.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,924 shares of the company’s stock worth $1,942,000 after purchasing an additional 324 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Daily Journal in the third quarter valued at $245,000. Hedge funds and other institutional investors own 51.23% of the company’s stock.

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.