“We are pleased with the outcome of this transaction, as it helps us concentrate on our core strategy of bringing relevant career opportunities to tech professionals and qualified technology talent to employers.”

– Art Zeile, President and CEO of DHI Group, Inc.

DHI Group Inc. (NYSE: DHX) is a leading online career resource and talent acquisition platform for technology professionals and other select professional communities in the U.S. and internationally. On June 1, the company’s shares experienced a jump of 34.78% up to $3.25 before closing at $3.10. A total of 1,890K shares exchanged hands during the intra-day trade contrast with its average trading volume of 636K. On May 27, I Know First algorithm issued a bullish 7-day forecast for DHX to June. The forecast illustrated a signal of 53.53 and a predictability of 0.16.  In accordance with this bullish forecast, DHX stock returned 67.57% over this time horizon, highlighting the accuracy of I Know First’s prediction.

DHI Group’s rally after being in a downtrend since last June may be the result of announcing the sale of HCareers, its hospitality job board. The transaction closed on May 23 and was about $16.5 million in cash. Consistent with the company’s stated capital allocation strategy, DHI will use the proceeds to reduce the balance on its revolving credit facility, support strategic initiatives and deliver potential capital return to shareholders. This sale, following another sale of its health job site, HealthECareers.com in December, is strictly in accordance with its plan to concentrate on service for technology professionals by divesting four of its non-tech businesses. Up to this month, DHI Group has completed two of its four previously announced divestures. Hopefully it could free the company to reinvest its core tech-focused business and build a more unified organization.

Current I Know First subscribers received this bullish DHX  forecast on May 27, 2018 before the market opening.

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DHI Group, Inc. (NYSE: DHX) was incorporated in Delaware on June 28, 2005 and is a leading provider of data, insights and employment connections through specialized services for technology professionals and other select online communities. The majority of its revenues are generated through the sale of recruitment packages, which allow customers to post jobs on the company’s websites and source candidates through the company’s resume databases and Open Web searches. Today, the company serves multiple markets located throughout North America, Europe, the Middle East and the Asia Pacific region.