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.

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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.