Daily Journal (NASDAQ:DJCO) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Daily Journal Co. (NASDAQ:DJCO) saw strong trading volume on Friday . 4,553 shares changed hands during 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.

Analyst Upgrades and Downgrades

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

Daily Journal Stock Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 8.58 and a quick ratio of 8.58. The company has a market capitalization of $779.71 million, a P/E ratio of 17.33 and a beta of 0.94. The business has a 50-day moving average of $534.55 and a 200-day moving average of $469.92.

Institutional Trading of Daily Journal

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AltraVue Capital LLC boosted its position in shares of Daily Journal by 195.8% during the second quarter. AltraVue Capital LLC now owns 34,826 shares of the company’s stock valued at $13,738,000 after buying an additional 23,052 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Daily Journal by 133.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,622 shares of the company’s stock worth $4,226,000 after buying an additional 4,924 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Daily Journal by 172.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,337 shares of the company’s stock worth $655,000 after acquiring an additional 847 shares during the last quarter. AQR Capital Management LLC purchased a new position in Daily Journal during the 2nd quarter valued at $519,000. Finally, Renaissance Technologies LLC grew its position in Daily Journal by 39.8% in the 2nd quarter. Renaissance Technologies LLC now owns 5,311 shares of the company’s stock valued at $2,095,000 after acquiring an additional 1,511 shares during the last quarter. 51.23% of the stock is owned by hedge funds and other institutional investors.

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.