DallasNews (NASDAQ:DALN) Trading Down 6.9% – What’s Next?

Shares of DallasNews Co. (NASDAQ:DALN) dropped 6.9% on Thursday . The company traded as low as $4.70 and last traded at $5.12. Approximately 95,215 shares were traded during trading, an increase of 114% from the average daily volume of 44,509 shares. The stock had previously closed at $5.50.

DallasNews Stock Performance

The business has a 50 day moving average of $4.90 and a two-hundred day moving average of $4.25. The firm has a market capitalization of $26.32 million, a price-to-earnings ratio of -4.39 and a beta of 0.65.

Insider Buying and Selling

In related news, major shareholder Robert W. Decherd bought 25,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were bought at an average price of $6.00 per share, for a total transaction of $150,000.00. Following the completion of the acquisition, the insider now directly owns 515,533 shares of the company’s stock, valued at $3,093,198. This trade represents a 5.10 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On DallasNews

A hedge fund recently raised its stake in DallasNews stock. Renaissance Technologies LLC grew its position in DallasNews Co. (NASDAQ:DALN) by 2.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 196,739 shares of the company’s stock after purchasing an additional 4,800 shares during the period. Renaissance Technologies LLC owned about 3.68% of DallasNews worth $706,000 at the end of the most recent reporting period. 27.19% of the stock is owned by hedge funds and other institutional investors.

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.