Lee Enterprises (NYSE:LEE) Upgraded at StockNews.com

StockNews.com upgraded shares of Lee Enterprises (NYSE:LEE) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

Lee Enterprises Price Performance

Shares of LEE opened at $12.25 on Friday. The firm has a market capitalization of $75.22 million, a P/E ratio of -6.09 and a beta of 1.22. Lee Enterprises has a 12-month low of $7.56 and a 12-month high of $15.89. The company has a current ratio of 0.94, a quick ratio of 0.87 and a debt-to-equity ratio of 20.47. The firm has a fifty day moving average price of $12.19 and a 200-day moving average price of $10.42.

Insider Activity at Lee Enterprises

In other news, major shareholder Digital Ltd Quint acquired 46,500 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was purchased at an average cost of $12.92 per share, for a total transaction of $600,780.00. Following the completion of the acquisition, the insider now directly owns 704,000 shares of the company’s stock, valued at approximately $9,095,680. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 85,500 shares of company stock worth $1,176,350 over the last three months. 11.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lee Enterprises

A number of large investors have recently added to or reduced their stakes in LEE. Wittenberg Investment Management Inc. bought a new position in Lee Enterprises in the third quarter worth about $1,210,000. Corsair Capital Management L.P. bought a new position in Lee Enterprises in the fourth quarter worth about $128,000. Gabelli Funds LLC raised its holdings in Lee Enterprises by 25.0% in the fourth quarter. Gabelli Funds LLC now owns 57,500 shares of the company’s stock worth $453,000 after purchasing an additional 11,500 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in Lee Enterprises by 17.8% in the third quarter. Gamco Investors INC. ET AL now owns 73,950 shares of the company’s stock worth $792,000 after purchasing an additional 11,200 shares in the last quarter. Finally, Teton Advisors Inc. raised its holdings in Lee Enterprises by 27.7% in the third quarter. Teton Advisors Inc. now owns 30,000 shares of the company’s stock worth $321,000 after purchasing an additional 6,500 shares in the last quarter. 39.20% of the stock is currently owned by institutional investors.

Lee Enterprises Company Profile

Lee Enterprises, Incorporated provides local news and information, and advertising services in the United States. The company offers digital subscription platforms; daily, weekly, and monthly newspapers and niche publications; and web hosting and content management services. It also provides advertising and marketing services, such as audience extension, search engine optimization, search engine marketing, web and mobile production, social media services, and reputation monitoring and management.