Lee Enterprises Inc. (NYSE:LEE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “LEE ENTERPRISES, INC. is a premier publisher of local news, information and advertising in primarily midsize markets, with 50 daily newspapers and a joint interest in four others, rapidly growing online sites and more than 300 weekly newspapers and specialty publications in 23 states. Lee’s newspapers have circulation of 1.6 million daily and 1.9 million Sunday, reaching more than four million readers daily. Lee’s online sites attract 12 million unique visitors monthly, and Lee’s weekly publications have distribution of more than 4.5 million households. Lee’s other newspaper markets include St. Louis, Mo.; Lincoln, Neb.; Madison, Wis.; Davenport, Iowa; Billings, Mont.; Bloomington, Ill.; and Tucson, Ariz. “

Shares of Lee Enterprises (NYSE:LEE) opened at 3.61 on Wednesday. The stock has a market cap of $201.33 million, a P/E ratio of 4.40 and a beta of 1.93. The firm’s 50-day moving average is $3.22 and its 200 day moving average is $2.29. Lee Enterprises has a 52-week low of $1.15 and a 52-week high of $3.92.

Several hedge funds have recently modified their holdings of the company. Spark Investment Management LLC boosted its stake in shares of Lee Enterprises by 10.8% in the second quarter. Spark Investment Management LLC now owns 52,400 shares of the company’s stock worth $100,000 after buying an additional 5,100 shares during the last quarter. Alambic Investment Management L.P. boosted its stake in shares of Lee Enterprises by 17.5% in the second quarter. Alambic Investment Management L.P. now owns 108,641 shares of the company’s stock worth $208,000 after buying an additional 16,189 shares during the last quarter. Phoenix Investment Adviser LLC purchased a new stake in shares of Lee Enterprises during the second quarter worth about $229,000. Acadian Asset Management LLC boosted its stake in shares of Lee Enterprises by 15.7% in the second quarter. Acadian Asset Management LLC now owns 295,345 shares of the company’s stock worth $563,000 after buying an additional 40,117 shares during the last quarter. Finally, North Star Investment Management Corp. boosted its stake in shares of Lee Enterprises by 65.3% in the second quarter. North Star Investment Management Corp. now owns 663,000 shares of the company’s stock worth $1,266,000 after buying an additional 262,000 shares during the last quarter. Institutional investors and hedge funds own 31.41% of the company’s stock.

Lee Enterprises Company Profile

Lee Enterprises, Incorporated is a provider of local news and information, and a platform for advertising. The Company’s products include approximately 50 daily and approximately 38 Sunday newspapers with print and digital subscribers. The Company offers approximately 300 weekly newspapers, and classified and niche publications.

5 Day Chart for NYSE:LEE

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