Lee Enterprises (NYSE:LEE) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Lee Enterprises, Incorporated (NYSE:LEE)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.36 and traded as high as $8.84. Lee Enterprises shares last traded at $7.95, with a volume of 208,553 shares.

Lee Enterprises Price Performance

The company has a debt-to-equity ratio of 69.34, a quick ratio of 0.72 and a current ratio of 0.78. The stock’s 50-day moving average is $7.08 and its 200 day moving average is $5.36. The stock has a market capitalization of $176.81 million, a PE ratio of -1.09 and a beta of 0.37.

Insider Buying and Selling at Lee Enterprises

In other news, major shareholder Digital Ltd Quint bought 2,451,346 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were acquired at an average price of $3.25 per share, for a total transaction of $7,966,874.50. Following the completion of the transaction, the insider owned 3,214,346 shares of the company’s stock, valued at approximately $10,446,624.50. This trade represents a 321.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Henry Hoffmann bought 27,800 shares of Lee Enterprises stock in a transaction dated Wednesday, March 11th. The stock was purchased at an average cost of $9.33 per share, with a total value of $259,374.00. Following the completion of the acquisition, the director directly owned 11,210,849 shares in the company, valued at approximately $104,597,221.17. The trade was a 0.25% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 2,646,809 shares of company stock worth $9,694,014 over the last 90 days. Corporate insiders own 54.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LEE. Gamco Investors INC. ET AL lifted its stake in Lee Enterprises by 23.8% in the fourth quarter. Gamco Investors INC. ET AL now owns 601,454 shares of the company’s stock valued at $2,881,000 after buying an additional 115,779 shares during the last quarter. Gabelli Funds LLC increased its holdings in shares of Lee Enterprises by 9.5% in the 4th quarter. Gabelli Funds LLC now owns 226,800 shares of the company’s stock valued at $1,086,000 after acquiring an additional 19,700 shares during the period. Royal Bank of Canada increased its holdings in shares of Lee Enterprises by 15,715.8% in the 1st quarter. Royal Bank of Canada now owns 29,101 shares of the company’s stock valued at $302,000 after acquiring an additional 28,917 shares during the period. DRW Securities LLC purchased a new stake in Lee Enterprises in the 4th quarter valued at $99,000. Finally, Teton Advisors LLC boosted its stake in Lee Enterprises by 13.3% during the 4th quarter. Teton Advisors LLC now owns 17,000 shares of the company’s stock worth $81,000 after purchasing an additional 2,000 shares during the period. Institutional investors and hedge funds 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.