Lee Enterprises (NYSE:LEE) Shares Pass Above 200-Day Moving Average – What’s Next?

Lee Enterprises, Incorporated (NYSE:LEE) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.95 and traded as high as $8.18. Lee Enterprises shares last traded at $8.15, with a volume of 70,962 shares changing hands.

Lee Enterprises Stock Performance

The company has a market cap of $181.17 million, a PE ratio of -1.12 and a beta of 0.34. 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 simple moving average is $9.25 and its 200 day simple moving average is $7.95.

Insider Buying and Selling

In other Lee Enterprises news, Director David Henry Hoffmann bought 6,925 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was acquired at an average cost of $10.86 per share, with a total value of $75,205.50. Following the purchase, the director owned 11,517,242 shares in the company, valued at approximately $125,077,248.12. This represents a 0.06% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Herbert W. Moloney III sold 24,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $9.82, for a total value of $235,680.00. Following the completion of the sale, the director directly owned 23,037 shares of the company’s stock, valued at $226,223.34. This represents a 51.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders acquired a total of 94,225 shares of company stock worth $898,978 in the last ninety days. 54.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LEE. Gamco Investors INC. ET AL boosted its position in shares of Lee Enterprises by 23.8% during 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 in 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 purchasing an additional 19,700 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Lee Enterprises in the 1st quarter valued at about $430,000. Royal Bank of Canada lifted its stake in shares of 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. Finally, DRW Securities LLC acquired a new stake in shares of Lee Enterprises in the fourth quarter valued at about $99,000. 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.