DallasNews (NASDAQ:DALN) Trading Down 0.7% – Here’s What Happened

DallasNews Co. (NASDAQ:DALN)’s share price traded down 0.7% during mid-day trading on Friday . The company traded as low as $6.93 and last traded at $7.10. 48,099 shares changed hands during trading, a decline of 5% from the average session volume of 50,683 shares. The stock had previously closed at $7.15.

DallasNews Trading Down 0.7 %

The firm’s 50-day simple moving average is $5.84 and its 200 day simple moving average is $4.76. The stock has a market cap of $38.00 million, a P/E ratio of -6.34 and a beta of 0.53.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in DallasNews stock. Cambiar Investors LLC raised its position in shares of DallasNews Co. (NASDAQ:DALN) by 52.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,084 shares of the company’s stock after purchasing an additional 16,167 shares during the quarter. Cambiar Investors LLC owned about 0.88% of DallasNews worth $197,000 as of its most recent SEC filing. Institutional investors own 27.19% of the company’s stock.

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.