Lee Enterprises (NYSE:LEE) Stock Crosses Above 200 Day Moving Average – Here’s Why

Lee Enterprises, Incorporated (NYSE:LEE)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.85 and traded as high as $11.01. Lee Enterprises shares last traded at $10.67, with a volume of 68,019 shares.

Lee Enterprises Stock Down 1.2%

The company’s 50 day moving average price is $8.78 and its two-hundred day moving average price is $6.85. The company has a current ratio of 0.78, a quick ratio of 0.72 and a debt-to-equity ratio of 69.34. The stock has a market cap of $237.19 million, a P/E ratio of -1.47 and a beta of 0.31.

Insider Activity at Lee Enterprises

In other news, Director Brent Magid sold 26,804 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $9.08, for a total value of $243,380.32. Following the transaction, the director owned 8,760 shares in the company, valued at $79,540.80. This represents a 75.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Henry Hoffmann acquired 27,800 shares of the stock in a transaction dated Friday, March 13th. The stock was acquired at an average price of $9.35 per share, for a total transaction of $259,930.00. Following the purchase, the director directly owned 11,266,449 shares in the company, valued at approximately $105,341,298.15. This trade represents a 0.25% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 124,700 shares of company stock worth $1,141,421 in the last quarter. Company insiders own 54.20% of the company’s stock.

Hedge Funds Weigh In On Lee Enterprises

Institutional investors have recently made changes to their positions in the business. Gamco Investors INC. ET AL lifted its stake in shares of Lee Enterprises by 23.8% in the 4th quarter. Gamco Investors INC. ET AL now owns 601,454 shares of the company’s stock worth $2,881,000 after purchasing an additional 115,779 shares during the period. Gabelli Funds LLC raised its stake in Lee Enterprises by 2.2% during the 2nd 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. Royal Bank of Canada raised 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 acquiring an additional 28,917 shares during the period. DRW Securities LLC bought a new stake in Lee Enterprises during the 4th quarter worth approximately $99,000. Finally, Jane Street Group LLC bought a new stake in Lee Enterprises during the 2nd quarter worth approximately $86,000. 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.