Lee Enterprises (NYSE:LEE) Major Shareholder Purchases $7,966,874.50 in Stock

Lee Enterprises, Incorporated (NYSE:LEE) major shareholder Digital Ltd Quint acquired 2,451,346 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was bought at an average price of $3.25 per share, for a total transaction of $7,966,874.50. Following the completion of the acquisition, the insider owned 3,214,346 shares of the company’s stock, valued at approximately $10,446,624.50. The trade was a 321.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Lee Enterprises Stock Up 4.1%

Lee Enterprises stock opened at $6.90 on Friday. The company’s 50-day moving average price is $4.83 and its two-hundred day moving average price is $4.63. The company has a quick ratio of 0.72, a current ratio of 0.78 and a debt-to-equity ratio of 69.34. The stock has a market cap of $43.21 million, a P/E ratio of -0.95 and a beta of 0.55. Lee Enterprises, Incorporated has a twelve month low of $3.34 and a twelve month high of $11.69.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position 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 acquiring an additional 28,917 shares during the period. Wittenberg Investment Management Inc. boosted its holdings in Lee Enterprises by 20.1% in the 2nd quarter. Wittenberg Investment Management Inc. now owns 85,043 shares of the company’s stock valued at $544,000 after purchasing an additional 14,262 shares during the period. Gamco Investors INC. ET AL boosted its holdings in Lee Enterprises by 4.9% in the 2nd quarter. Gamco Investors INC. ET AL now owns 493,816 shares of the company’s stock valued at $3,160,000 after purchasing an additional 23,269 shares during the period. Gabelli Funds LLC grew its position in shares of 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 purchasing an additional 4,389 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Lee Enterprises during the second quarter worth approximately $86,000. Institutional investors 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.