DallasNews Co. (NASDAQ:DALN – Get Rating) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 81,100 shares, an increase of 12.6% from the August 15th total of 72,000 shares. Based on an average daily volume of 33,700 shares, the days-to-cover ratio is currently 2.4 days. Approximately 1.8% of the shares of the company are sold short.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the business. Beryl Capital Management LLC bought a new position in DallasNews in the 4th quarter worth approximately $8,997,000. North Star Investment Management Corp. increased its position in DallasNews by 1.7% in the 1st quarter. North Star Investment Management Corp. now owns 238,198 shares of the company's stock worth $1,667,000 after buying an additional 4,080 shares during the period. Bank of America Corp DE increased its position in DallasNews by 12.5% in the 1st quarter. Bank of America Corp DE now owns 73,449 shares of the company's stock worth $515,000 after buying an additional 8,157 shares during the period. Gamco Investors INC. ET AL increased its position in shares of DallasNews by 25.0% during the fourth quarter. Gamco Investors INC. ET AL now owns 25,000 shares of the company's stock valued at $180,000 after purchasing an additional 5,000 shares during the period. Finally, Waratah Capital Advisors Ltd. bought a new stake in shares of DallasNews during the fourth quarter valued at approximately $108,000. 38.93% of the stock is owned by institutional investors.
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DallasNews Price Performance
NASDAQ DALN remained flat at $5.01 during trading on Friday. The company's stock had a trading volume of 43,992 shares, compared to its average volume of 96,913. The business's 50 day moving average is $6.79 and its 200 day moving average is $6.70. DallasNews has a 52 week low of $4.98 and a 52 week high of $8.49.
DallasNews Dividend Announcement
The firm also recently declared a None dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be given a $1.50 dividend. The ex-dividend date is Thursday, September 8th. DallasNews's dividend payout ratio is currently -266.67%.
Analysts Set New Price Targets
Separately, TheStreet lowered DallasNews from a "c-" rating to a "d+" rating in a report on Thursday, July 7th.
About DallasNews
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DallasNews Corporation, together with its subsidiaries, operates as a local news and information publishing company in Texas. The company publishes The Dallas Morning News, a newspaper; Briefing, a newspaper; and Al Dia, a Spanish-language newspaper, as well as operates related websites and mobile applications.
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