Lee Enterprises (NYSE:LEE) Shares Pass 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 Thursday . The stock has a 200-day moving average of $4.74 and traded as high as $5.33. Lee Enterprises shares last traded at $5.01, with a volume of 33,231 shares.

Lee Enterprises Price Performance

The company has a market capitalization of $31.87 million, a P/E ratio of -0.70 and a beta of 0.53. The company has a debt-to-equity ratio of 69.34, a current ratio of 0.78 and a quick ratio of 0.72. The firm’s 50-day moving average is $4.29 and its 200-day moving average is $4.72.

Institutional Investors Weigh In On Lee Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada raised its holdings in Lee Enterprises by 15,715.8% in the 1st quarter. Royal Bank of Canada now owns 29,101 shares of the company’s stock worth $302,000 after purchasing an additional 28,917 shares during the period. Wittenberg Investment Management Inc. increased its position in Lee Enterprises by 20.1% in the second quarter. Wittenberg Investment Management Inc. now owns 85,043 shares of the company’s stock worth $544,000 after buying an additional 14,262 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in shares of Lee Enterprises by 4.9% in the second quarter. Gamco Investors INC. ET AL now owns 493,816 shares of the company’s stock worth $3,160,000 after buying an additional 23,269 shares during the period. Gabelli Funds LLC raised its stake in shares of Lee Enterprises by 2.2% in the second quarter. Gabelli Funds LLC now owns 202,482 shares of the company’s stock worth $1,296,000 after buying an additional 4,389 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of Lee Enterprises during the 2nd quarter valued at about $86,000. 39.20% of the stock is currently owned by hedge funds and other institutional investors.

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.