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

Shares of Daily Journal Co. (NASDAQ:DJCO) saw unusually-strong trading volume on Monday . Approximately 38,453 shares changed hands during trading, an increase of 240% from the previous session’s volume of 11,320 shares.The stock last traded at $567.05 and had previously closed at $558.10.

Daily Journal Stock Up 1.1 %

The stock’s fifty day simple moving average is $551.26 and its two-hundred day simple moving average is $484.11. 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 $777.00 million, a price-to-earnings ratio of 17.31 and a beta of 0.94.

Institutional Trading of Daily Journal

A number of institutional investors and hedge funds have recently made changes to their positions in DJCO. JPMorgan Chase & Co. boosted its position in Daily Journal by 341.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,966 shares of the company’s stock valued at $1,454,000 after purchasing an additional 2,294 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Daily Journal during the third quarter valued at $309,000. Wilmington Savings Fund Society FSB bought a new position in shares of Daily Journal during the third quarter worth about $3,137,000. Barclays PLC increased its holdings in shares of Daily Journal by 343.1% in the 3rd quarter. Barclays PLC now owns 2,233 shares of the company’s stock worth $1,094,000 after acquiring an additional 1,729 shares during the period. Finally, State Street Corp lifted its position in Daily Journal by 18.3% in the 3rd quarter. State Street Corp now owns 32,968 shares of the company’s stock valued at $16,158,000 after purchasing an additional 5,092 shares during 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.