Short Interest in DallasNews Co. (NASDAQ:DALN) Drops By 10.9%

DallasNews Co. (NASDAQ:DALN) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 114,200 shares, a decline 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. Approximately 2.6% of the shares of the stock are sold short.

Insider Buying and Selling

In related news, major shareholder Robert W. Decherd acquired 25,000 shares of DallasNews stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average cost of $6.00 per share, for a total transaction of $150,000.00. Following the completion of the transaction, the insider now directly owns 515,533 shares of the company’s stock, valued at $3,093,198. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 12.90% of the company’s stock.

Institutional Trading of DallasNews

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Worth Asset Management LLC grew its stake in shares of DallasNews by 26.6% during the 1st quarter. Worth Asset Management LLC now owns 18,231 shares of the company’s stock valued at $70,000 after buying an additional 3,836 shares during the period. Renaissance Technologies LLC grew its position in DallasNews by 2.5% during the second quarter. Renaissance Technologies LLC now owns 196,739 shares of the company’s stock valued at $706,000 after acquiring an additional 4,800 shares during the period. Finally, Cambiar Investors LLC grew its position in DallasNews by 184.9% during the second quarter. Cambiar Investors LLC now owns 30,917 shares of the company’s stock valued at $111,000 after acquiring an additional 20,066 shares during the period. Hedge funds and other institutional investors own 27.19% of the company’s stock.

DallasNews Stock Down 1.1 %

Shares of DALN traded down $0.05 on Tuesday, hitting $4.34. 4,439 shares of the stock traded hands, compared to its average volume of 41,228. The firm has a market capitalization of $23.23 million, a P/E ratio of -4.06 and a beta of 0.69. DallasNews has a 1 year low of $2.98 and a 1 year high of $4.90. The stock’s 50 day moving average is $4.02 and its two-hundred day moving average is $3.86.

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

DallasNews Company Profile

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.