DallasNews Co. (NASDAQ:DALN) Sees Large Decline in Short Interest

DallasNews Co. (NASDAQ:DALN) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 114,200 shares, a drop of 10.9% from the August 15th total of 128,200 shares. Based on an average daily volume of 51,800 shares, the short-interest ratio is presently 2.2 days. Currently, 2.6% of the shares of the company are sold short.

Insider Activity at DallasNews

In other DallasNews news, major shareholder Robert W. Decherd bought 25,000 shares of DallasNews stock in a transaction on Tuesday, September 10th. The stock was bought at an average price of $6.00 per share, with a total value of $150,000.00. Following the completion of the acquisition, the insider now owns 515,533 shares in the company, valued at $3,093,198. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DALN. Worth Asset Management LLC boosted its position in shares of DallasNews by 26.6% in the 1st quarter. Worth Asset Management LLC now owns 18,231 shares of the company’s stock worth $70,000 after buying an additional 3,836 shares in the last quarter. Cambiar Investors LLC raised its position in DallasNews by 184.9% during the second quarter. Cambiar Investors LLC now owns 30,917 shares of the company’s stock worth $111,000 after acquiring an additional 20,066 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of DallasNews by 2.5% in the second quarter. Renaissance Technologies LLC now owns 196,739 shares of the company’s stock valued at $706,000 after purchasing an additional 4,800 shares in the last quarter. Hedge funds and other institutional investors own 27.19% of the company’s stock.

DallasNews Price Performance

DallasNews stock traded down $0.04 during mid-day trading on Wednesday, reaching $4.30. The company had a trading volume of 3,976 shares, compared to its average volume of 41,021. The stock’s 50-day simple moving average is $4.04 and its 200-day simple moving average is $3.86. The company has a market capitalization of $23.01 million, a P/E ratio of -4.02 and a beta of 0.69. DallasNews has a 1 year low of $2.98 and a 1 year high of $4.90.

DallasNews (NASDAQ:DALN) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.27 earnings per share for the quarter. The firm had revenue of $32.06 million during the quarter. DallasNews had a negative return on equity of 110.67% and a negative net margin of 2.68%.

About DallasNews

DallasNews Corporation, together with its subsidiaries, publishes and sells newspapers in Texas. The company operates The Dallas Morning News, a newspaper; dallasnews.com a digital platform; The News, a metropolitan newspaper; and Al Dia, an online Spanish-language newspapers. It also offers digital advertising and marketing services, such as strategic marketing services, consulting, branding, paid media strategy and management, creative services, search optimization, direct mail, and sale of promotional materials, as well as provides multi-channel marketing solutions through subscription sales of the company's cloud-based software.