Lee Enterprises (NYSE:LEE) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Lee Enterprises, Incorporated (NYSE:LEE)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.79 and traded as high as $5.15. Lee Enterprises shares last traded at $5.08, with a volume of 42,552 shares changing hands.

Lee Enterprises Trading Up 6.9%

The company has a market cap of $31.81 million, a P/E ratio of -0.70 and a beta of 0.53. The business has a fifty day moving average price of $4.17 and a 200-day moving average price of $4.79. The company has a quick ratio of 0.72, a current ratio of 0.78 and a debt-to-equity ratio of 69.34.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LEE. Royal Bank of Canada increased its position in Lee Enterprises by 15,715.8% during the 1st quarter. Royal Bank of Canada now owns 29,101 shares of the company’s stock worth $302,000 after buying an additional 28,917 shares during the period. Wittenberg Investment Management Inc. grew its stake in shares of Lee Enterprises by 20.1% in the second quarter. Wittenberg Investment Management Inc. now owns 85,043 shares of the company’s stock valued at $544,000 after acquiring an additional 14,262 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in shares of Lee Enterprises by 4.9% in the second quarter. Gamco Investors INC. ET AL now owns 493,816 shares of the company’s stock valued at $3,160,000 after acquiring an additional 23,269 shares in the last quarter. Gabelli Funds LLC increased its position in Lee Enterprises by 2.2% during the second quarter. Gabelli Funds LLC now owns 202,482 shares of the company’s stock worth $1,296,000 after acquiring an additional 4,389 shares during the period. Finally, Jane Street Group LLC bought a new position in Lee Enterprises during the second quarter worth about $86,000. 39.20% of the stock is owned by institutional investors and hedge funds.

Lee Enterprises Company Profile

Lee Enterprises, Inc is a publicly traded media company based in Davenport, Iowa, with a heritage dating back to 1890 when Alfred W. Lee acquired the Davenport Times-Democrat. Over the decades, the company has grown through acquisitions and organic expansion to become one of the largest regional news publishers in the United States. Lee Enterprises’ shares trade on the New York Stock Exchange under the ticker symbol LEE.

The company’s principal activities center on the production and distribution of local journalism across print and digital channels.