Lee Enterprises (NYSE:LEE) Shares Pass Above 200-Day Moving Average – Time to Sell?

Shares of Lee Enterprises, Incorporated (NYSE:LEE) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.62 and traded as high as $5.65. Lee Enterprises shares last traded at $5.49, with a volume of 44,036 shares changing hands.

Lee Enterprises Stock Performance

The business’s 50-day simple moving average is $4.49 and its two-hundred day simple moving average is $4.62. The company has a quick ratio of 0.72, a current ratio of 0.78 and a debt-to-equity ratio of 69.34. The firm has a market cap of $34.38 million, a price-to-earnings ratio of -0.75 and a beta of 0.53.

Hedge Funds Weigh In On Lee Enterprises

A number of hedge funds have recently bought and sold shares of LEE. Royal Bank of Canada grew its holdings in Lee Enterprises by 15,715.8% in the first quarter. Royal Bank of Canada now owns 29,101 shares of the company’s stock valued at $302,000 after purchasing an additional 28,917 shares during the period. Gamco Investors INC. ET AL lifted its position in shares of Lee Enterprises by 4.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 493,816 shares of the company’s stock valued at $3,160,000 after buying an additional 23,269 shares in the last quarter. Teton Advisors LLC acquired a new stake in Lee Enterprises in the 3rd quarter valued at $82,000. Wittenberg Investment Management Inc. grew its stake in Lee Enterprises by 20.1% in the 2nd 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 during the period. Finally, Jane Street Group LLC purchased a new stake in Lee Enterprises in the 2nd quarter worth $86,000. Hedge funds and other institutional investors own 39.20% of the company’s stock.

About Lee Enterprises

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.