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DHI Group Inc. (DHX) Drops 16% After Decision to Operate Independently

DHI Group Inc. (NYSE:DHX) on April 12 dropped by 15.96% in heavy trading to close at $3.95, after it decided to operate independently.

The company initiated the search for strategic alternatives process, which began in November 2016, to explore alternative ownership options. DHI Group Inc. (NYSE:DHX) now wishes to continue a tech-focused direction, which includes aligning its financial and operational resources to the global technology recruitment markets.

“Accordingly, we have already been executing on this strategy by prioritizing initiatives and reallocating resources. Importantly, we’ve stepped up innovation in our tech focused businesses; adding skills assessment services like HackerEarth, and deepening engagement with professionals with new Dice Careers App features, to name two,” said Michael Durney, President and Chief Executive Officer of DHI.

DHI Group Inc. (NYSE:DHX) is a leading provider of data, insights and employment connections through our specialized services for professional communities including technology and security clearance, financial services, energy, healthcare and hospitality.

 

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What Does The Smart Money Sentiment Say?

The Smart Money pool deflected slightly from the DHI Group Inc. (NYSE:DHX) shares quarter over quarter. Out of the 742 hedge funds we track at Insider Monkey, we saw only 15 funds who kept their positions on DHX in the fourth quarter of 2016, compared to 17 funds who held shares valued at nearly $29 million in the third quarter of the same year.

At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 39.7% gains over the past 12 months and outperformed the 24.1% gain enjoyed by the S&P 500 ETFs. Our enhanced small-cap hedge fund strategy returned more than 45% over the last 12 months and outperformed SPY by more than 30 percentage points over the last 4.5 years (see details here).

The Bottom Line

Traders fled shares of DHI Group Inc. (NYSE:DHX) following its decision to conclude exploring strategic alternatives and settle to operating independently. Interested in trading? Check out the 20 largest stock exchanges in the world.

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