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Diamond Resorts shares jump after strategic review plans

Diamond Resorts International shares jump 22%, extending from a 15% advance after hours the previous session, after it said it will explore strategic alternatives

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Trying to get out from under the shade

Diamond Resorts International (NYSE:DRII) shares jumped by 22% on Thursday, extending from a 15% advance after hours the previous session, after it said it will explore strategic alternatives.

One of the world's largest timeshare companies, Diamond also said an independent board committee has hired Centerview Partners LLC to advise on the process.

The company, which manages resorts and sells vacation ownership points, said it remained frustrated by what it called the gap between "the intrinsic value" of the business and its market value since its its initial public offering in 2013.

Diamond also reported that its fourth-quarter profit more than doubled to $49.7mln as revenue increased 18% to $273.6mln.

Diamond shares were up 22% at $23.53.

Quick facts: Diamond Resorts International

Price: - -

NYSE:DRII
Market: NYSE
Market Cap: -
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