Digital Ltd Quint Purchases 2,451,346 Shares of Lee Enterprises (NYSE:LEE) Stock

Lee Enterprises, Incorporated (NYSE:LEE) major shareholder Digital Ltd Quint bought 2,451,346 shares of Lee Enterprises stock in a transaction on Thursday, February 5th. The stock was purchased at an average price of $3.25 per share, for a total transaction of $7,966,874.50. Following the completion of the acquisition, the insider owned 3,214,346 shares in the company, valued at $10,446,624.50. This represents a 321.28% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Lee Enterprises Stock Performance

Shares of LEE opened at $6.63 on Friday. Lee Enterprises, Incorporated has a 1 year low of $3.34 and a 1 year high of $11.69. The company’s 50 day simple moving average is $4.78 and its 200 day simple moving average is $4.62. The company has a market capitalization of $41.52 million, a price-to-earnings ratio of -0.91 and a beta of 0.55. The company has a debt-to-equity ratio of 69.34, a quick ratio of 0.72 and a current ratio of 0.78.

Institutional Trading of Lee Enterprises

A number of institutional investors have recently modified their holdings of the company. Murphy Pohlad Asset Management LLC purchased a new stake in Lee Enterprises during the third quarter worth approximately $66,000. Teton Advisors LLC grew its position in Lee Enterprises by 13.3% in the fourth quarter. Teton Advisors LLC now owns 17,000 shares of the company’s stock valued at $81,000 after acquiring an additional 2,000 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Lee Enterprises during the second quarter worth $86,000. DRW Securities LLC acquired a new stake in Lee Enterprises during the 4th quarter valued at $99,000. Finally, Royal Bank of Canada increased its stake 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. Hedge funds and other institutional investors own 39.20% of the company’s stock.

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.