DallasNews (NASDAQ:DALN) Stock Price Down 6.9% – Time to Sell?

DallasNews Co. (NASDAQ:DALNGet Free Report)’s stock price dropped 6.9% during trading on Thursday . The company traded as low as $4.70 and last traded at $5.12. Approximately 95,215 shares traded hands during mid-day trading, an increase of 114% from the average daily volume of 44,509 shares. The stock had previously closed at $5.50.

DallasNews Trading Down 6.9 %

The firm’s 50-day moving average price is $4.89 and its 200-day moving average price is $4.25. The stock has a market capitalization of $27.39 million, a PE ratio of -4.57 and a beta of 0.65.

Insider Activity

In related news, major shareholder Robert W. Decherd purchased 25,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was bought 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 in the company, valued at $3,093,198. This represents a 5.10 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On DallasNews

A hedge fund recently raised its stake in DallasNews stock. Renaissance Technologies LLC raised its stake in DallasNews Co. (NASDAQ:DALNFree Report) by 2.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 196,739 shares of the company’s stock after buying an additional 4,800 shares during the period. Renaissance Technologies LLC owned about 3.68% of DallasNews worth $706,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 27.19% of the company’s stock.

About DallasNews

(Get Free Report)

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.

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